DGAP-News: Varengold Wertpapierhandelsbank AG / Key word(s): Results Forecast/Final Results Varengold Wertpapierhandelsbank AG: Strong growth in Varengold Wertpapierhandelsbank AG annual results in 2010 05.04.2011 / 09:36 --------------------------------------------------------------------- Strong growth in Varengold Wertpapierhandelsbank AG annual results in 2010 Hamburg, 29 March 2011 - Unaudited, preliminary figures pursuant to HGB [German Commercial Code] Varengold Wertpapierhandelsbank AG, a German investment bank with over 15 years' experience on the market and an exclusive focus on asset management with managed futures and capital markets brokerage, reported positive business development in the 2010 financial year. Both business segments of Varengold Wertpapierhandelsbank AG contributed to the positive results. Other growth generators were the Varengold Investmentaktiengesellschaft mit Teilgesellschaftsvermögen and advisory mandates. The preliminary, unaudited figures show a considerable increase in the Varengold Wertpapierhandelsbank AG annual results in the 2010 financial year; performance improved from an annual loss (EBITDA) of EUR -542 K in 2009 to an annual surplus (EBITDA) of EUR 2773 K. This positive development came despite the high start-up costs for projects and partnerships which will contribute to turnover and revenue in the 2011 financial year. Liquidity also rose significantly in 2010 from EUR 431 K at the start of the financial year to EUR 2838 K at the end. Varengold Wertpapierhandelsbank AG expects to publish its audited annual financial statement in June 2011. For the 2011 financial year, the Board is aiming to increase revenue and improve performance. Mr Fix and Mr Qureshi will be holding a conference call at 11:00 am on 14 April 2011 for institutional clients, analysts and journalists to discuss the financial figures and planned developments at Varengold Wertpapierhandelsbank AG. If you wish to take part in the conference call, please contact Ms Selge (edicto GmbH) by 'phone on +49 (0) 69 / 90 55 05-53 or by e-mail at dselge@edicto.de. End of Corporate News --------------------------------------------------------------------- 05.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Varengold Wertpapierhandelsbank AG GroÃe ElbstraÃe 27 22767 Hamburg Deutschland Phone: +49 (0)40 / 668649-0 Fax: +49 (0)40 / 668649-49 E-mail: smeyer@varengold.de Internet: www.varengold.de ISIN: DE0005479307 WKN: 547930 Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry Standard in Frankfurt End of News DGAP News-Service --------------------------------------------------------------------- 118424 05.04.2011
DGAP-News: Varengold Wertpapierhandelsbank AG: Strong growth in Varengold Wertpapierhandelsbank AG annual results in 2010
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