Lloyd Fonds Aktiengesellschaft / Final Results/Miscellaneous 17.04.2008 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- * 50 percent increase in equity placements to EUR 452 million * 25 percent increase in sales to EUR 90 million * Dividend of EUR 1.30 proposed for 2007 * Continued growth Hamburg, April 17, 2008. The Hamburg-based fund issuer Lloyd Fonds AG closed 2007 with record net profit of EUR 20.2 million underpinned by a 50 percent increase in equity placements in 2007 to over EUR 450 million from the arrangement of new investment products. Together with non-issuing income from trusteeship business and asset management, total revenues came to EUR 90 million (previous year: EUR 72 million). EBIT for 2007 equals EUR 28 million, up from EUR 24 million in the previous year. On this basis of 12.7 million shares, this translates into earnings per shares of EUR 1.59 (previous year: EUR 1.50). 'Last year we were able to impressively reach the goals that we had set ourselves when we floated our Company on the stock market,' says Dr. Torsten Teichert, CEO of Lloyd Fonds AG. 'In 2008, we will also be continuing on this dynamic growth trajectory and placing our business model on a broader footing with new products and innovations. At the same time, we want to play an active role in market consolidation.' Substantial increase in income from operating business in 2007 Performance in the previous year had been particularly influenced by the sharp rise in placement figures and the corresponding volume of new funds as well as the arrangement of finance. These activities contributed around EUR 70.9 million to sales (previous year EUR 63.5 million). Rising by 50 percent from EUR 8.4 million to EUR 16.8 million, the rise in non-issuing income from trusteeship and asset management activities was particularly pronounced. The open-end ship fund contributed income of EUR 7 million. Whereas in the previous year, the share of profit of associates had stood at EUR 6.9 million, this figure came to only around EUR 3.8 million in 2007 despite the higher consolidated net profit as it also includes the impairment losses recognized on US condominiums. On the cost side, the cost of sales rose at a disproportionately small rate from EUR 39.1 million to EUR 42.5 million in spite of the sharp rise in equity. This is particularly due to the wider share of exclusive placements via banks and the high proportion of the open-end ship fund in placement figures. Reflecting the expansion-induced recruitment activities, personnel expenses climbed from EUR 9.7 million to EUR 12.6 million in the year under review. Extensions to business activities also caused other operating result to rise to EUR 9.6 million (previous year: EUR 5.5 million). Tax expense in 2007 increased from EUR 4.7 million to EUR 8.2 million, with the tax rate coming to around 29 percent, substantially more than the previous years low rate of 19.9 percent. This is particularly due to the Companys greater diversification and the related increase in the shares of asset-managements funds. In addition, the previous years tax rate reflected higher tax-free interim profits. 'Our earnings for 2007 testify to our solid profitability,' says Michael F. Seidel, CFO at Lloyd Fonds AG. 'With our current resources, we are able to extend our product pipeline and finance our strategy expansion.' Whereas the pipeline in the shipping segment is amply filled with contracts already signed, new aircraft and real estate acquisitions are expected to be announced in the second quarter. Similarly, negotiations for the purchase of further ships and other assets are currently ongoing. Financials in EUR millions 2007 2006 Delta Sales 90.1 72.0 25.1% Non-issuing income 20.9 15.3 36.8% EBIT 28.3 23.9 18.6% EBIT margin 31.5% 33.2% -1.7 pp Consolidated net profit 20.2 19.0 6.1% Return on sales 22.4% 26.4% -4.0 pp Total assets on Dec. 31. 118.5 105.2 12.6% Equity 86.2 80.5 7.1% Equity ratio 72.7% 76.5% -3.8% Earnings per share 1.59 1.50 6.0% Dividend per share(2007: prop.) 1.30 1.25 4.0% Headcount (annual average) 130 94 38.3% On the basis of these results, the Management Board and the Supervisory Board will be asking the shareholders to approve a dividend of EUR 1.30 per share, equivalent to a dividend ratio of around 82 percent of the consolidated net profit for the year. Lloyd Fonds plans to continue its shareholder-friendly dividend policy in the future unless extensions to business activities in the form of acquisitions or partnerships are seen as offering substantially greater value for shareholders. Outlook Turning to 2008, Lloyd Fonds AG plans to increase equity placements in Germany and Austria to EUR 600 million, including around EUR 250 million for closed-end and around EUR 100 million for institutional products. A further EUR 80 million is to be placed in real estate investment products, with roughly EUR 170 million to be spread over other asset classes, primarily aircraft and traded endowment policies. As a result, consolidated net profit is to rise to EUR 23 million. The Company remains committed to its goal of seeking a disproportionately large increase in recurring income and to generating income throughout the placement phase to a greater extent. At the end of 2007/beginning of 2008, five new funds were launched in Germany and Austria in quick succession. With the acquisition of a 22 percent share in investment product retailing group Feedback AG, Lloyd Fonds is also forging closer ties with non-bank retailers. This also represents a response to the trend towards closer ties between the initiators and sellers of financial products. A certificate on the open-end ship fund 'LF Open Waters OP' was launched right at the beginning of the 2nd quarter in conjunction with Deutsche Bank. This is being supplemented with negotiations on several exclusive placements with banks and larger independent retail partners for the current quarter as well as the second half of the year. As a result of these negotiations, a further ship fund was structured and launched in the first quarter. Contracts for a further two placements with independent retail partners over the next few months have also been signed. In the second quarter, further ship, real estate and aircraft funds will be structured and launched one after the other. Half of the corresponding income will be earned on completion and the other half during placement. Contact: Dr. Goetz Schlegtendal Lloyd Fonds AG Amelungstraße 8-10 20354 Hamburg Tel: +49-40-325678-148 Fax: +49-40-325678-99 Mail: ir@lloydfonds.de Contact: Dr. Goetz Schlegtendal Lloyd Fonds AG Amelungstraße 8-10 20354 Hamburg Tel: +49-40-325678-0 Fax: +49-40-325678-99 Mail: ir@lloydfonds.de DGAP 17.04.2008 --------------------------------------------------------------------------- Language: English Issuer: Lloyd Fonds Aktiengesellschaft Amelungstr. 8-10 20354 Hamburg Deutschland Phone: +49 (0)40 32 56 78-0 Fax: +49 (0)40 32 56 78-99 E-mail: info@lloydfonds.de Internet: www.lloydfonds.de ISIN: DE0006174873 WKN: 617487 End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: Lloyd Fonds confirming consolidated net profit of EUR 20 million for 2007 - growth trajectory continued in 2008
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