TFG Capital AG Unternehmensbeteiligungsgesellschaft / Final Results/Legal Matter
07.04.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Significant changes compared to provisional figures for 2007
- Back taxes due to amendment notice
- Further depreciations on financial assets and securities
- Special representative considers ad-hoc notification of 16 January 2008
incorrect
Marl, 7 April 2008 With an operating income of EUR 6.4 million (previous
year: EUR 7.1 million), TFG Capital AG Unternehmensbeteiligungsgesellschaft
(ISIN: DE0007449506) achieved an operative result (EBIT) of EUR -747,331 in
the financial year 2007(previous year: EUR 4.2 million). This represents a
significant reduction compared to the provisional operating income of EUR
10.8 million and the provisional EBIT of EUR 6.0 million announced at the
end of February 2008.
The tax amendment notice for the year 2000 issued on the basis of the
company audit contains a ruling on the payment of back taxes in the amount
of EUR 6.4 million which had not been included in previous balance sheet
drafts. Reserves of EUR 3.84 million were included in the balance sheet for
this purpose.
Furthermore, TFG Capital AG has only included the revenue from the sale of
Kisters AG in the result for 2008.
The balance sheet item 'Depreciations on financial investments and
securities classified as current assets' increased from EUR 850,421 in the
business year 2006 to EUR 5.4 million.
In 2007, the operating result before taxes was EUR -2.0 million (previous
year: EUR 3.8 million). Both the net loss for the year and the balance
sheet loss stood at EUR 5.3 million, as compared to a profit of EUR 2.1
million and a balance sheet profit of EUR 1.2 million for the financial
year 2006.
The value of the investment portfolio as of 31 December 2007 increased by
almost 2% to 39.5 million compared to the end of the third quarter,
corresponding to a value of EUR 3.32 per share.
'With the additional value adjustments made to the portfolio and the
increased reserves we feel that we have taken the necessary steps towards
consolidating the TFG balance sheet figures. Against this background, we
are setting our sights on the future as the prospects for a positive
business development in 2008 are promising due to the value potential of
our portfolio,' comments Udo Treichel, Member of the Management Board of
TFG Capital AG.
The audited annual balance sheet will be published in full on the company
website of TFG Capital AG on www.tfg.de on Thursday, 10 April 2008.
Special representative considers ad-hoc notification of 16 January 2008
incorrect
The special representative, Dr. Alexander Schröder-Frerkes, informed TFG
Capital AG that he considers the ad-hoc notification of 16 January 2008
incorrect, an opinion he arrived at in view of the headline of the ad-hoc
notification in particular. While not agreeing with the opinion expressed
by Mr. Schröder-Frerkes, the company points out by way of precaution that
the actions for avoidance filed against the resolutions passed by the
General Shareholders Meeting of TFG Capital AG of 26 March 2007 have not
been terminated at this point, as the Regional Court has not yet reached a
decision on termination following the acknowledgement by the Management
Board and the Supervisory Board.
TFG Capital AG
Phone: ++49 (0) 2365-97800
E-mail: investorrelations@tfg.de
DGAP 07.04.2008
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Language: English
Issuer: TFG Capital AG Unternehmensbeteiligungsgesellschaft
Mainstraße 16
45768 Marl
Deutschland
Phone: +49 (0)2365 97 80 - 0
Fax: +49 (0)2365 97 80 - 33
E-mail: investorrelations@tfg.de
Internet: www.tfg.de
ISIN: DE0007449506
WKN: 744950
End of News DGAP News-Service
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DGAP-Adhoc: TFG Capital announces final figures for the 2007 financial year
| Source: EQS Group AG