Highlights of the attached interim report for the first half of 2009 of Alm.
Brand Pantebreve A/S:
• Alm. Brand Pantebreve A/S posted a loss of DKK 22.3 million before tax in H1
2009, against a loss of DKK 16.1 million in the same period of last year.
• This performance was not satisfactory and attributable to the economic
climate, which has resulted in large credit losses and writedowns on the
company's mortgage deeds.
• The performance was favourably affected by an unrealised gain on the mortgage
deed portfolio, primarily as a result of the falling interest rates, and by
gains on forward exchange contracts and derivative financial instruments.
• Shareholders' equity was DKK 216 million at 30 June 2009 against DKK 238
million at 31 December 2008. Net asset value totalled DKK 130.80 at 30 June
2009, compared with DKK 144.30 at 31 December 2008.
• The company downgrades its guidance from a full-year profit before tax of
around DKK
0-25 million to a loss of between DKK 25 million and DKK 35 million.
Please direct any questions regarding the announcement to Henrik Nordam,
Chairman, on tel. +45 35 47 48 49.
Alm. Brand Pantebreve A/S
Henrik Nordam
Chairman
