HSH Nordbank AG / Preliminary Results/Final Results 13.02.2009 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- According to preliminary non-audited IFRS group figures, HSH Nordbank closed 2008 with a consolidated net loss of around EUR 2.8 billion before restructuring costs, taxes and loss participation (previous year: net profit of EUR 285million). This figure includes the impairments of around EUR 1.6 billion(previous year: EUR 1.3 billion) on the credit investment portfolio. Further writedowns necessitated by the crisis afflicting the financial market are valued at EUR 0.9 billion and include, among other things, adjustments in connection with the Lehman insolvency and the collapse of Icelandic banks. HSH Nordbank has responded to the heightened risks in its lending business in the wake of the current economic crisis by substantially increasing loan-loss provisioning to EUR 1.4 billion (previous year: EUR 1 million income). In 2008, the group generated net interest and commission income of around EUR 2 billion (previous year: EUR 1.9 billion). The Bank had previously announced that it would be paying the coupons on silent partnerships which are contingent on the Bank reporting a net income for the year. For the individual financial statement, according to German GAAP, the Management Board assumes a profit for the year shown in the balance sheet. Therefore the Bank will be able to pay the coupons on profit participation certificates and silent partnerships. At the moment, the bank is in the advanced stages of constructive negotiations with its owners concerning a strategic realignment. Contact: HSH Nordbank AG Rune Hoffmann Press Spokesman Tel. +49 40/33 33-11412 Fax +49 40/33 33-611412 E-Mail: rune.hoffmann@hsh-nordbank.com Karl Steinle Head of Investor Relations/Rating Tel. +49 40/33 33-10477 Fax +49 40/33 33-610477 E-Mail: karl.steinle@hsh-nordbank.com DGAP 13.02.2009 --------------------------------------------------------------------------- Language: English Issuer: HSH Nordbank AG Gerhart-Hauptmann-Platz 50 20095 Hamburg Deutschland Phone: +49 (0)40 33 33-0 Fax: +49 (0)40 33 33-340 01 E-mail: info@hsh-nordbank.com Internet: www.hsh-nordbank.com ISIN: DE0009842542 WKN: 984254 Listed: Regulierter Markt in Hamburg End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: HSH Nordbank reporting net loss for 2008
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