DGAP-News: Baader Bank AG / Key word(s): Final Results
Baader Bank AG: Baader Bank reports profit of EUR 8.8 million after
tax in 2012

04.03.2013 / 07:30

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Baader Bank reports profit of EUR 8.8 million after tax in 2012

In the 2012 financial year, the Baader Bank Group achieved a provisional
net profit after tax of EUR 8.8 million (previous year: EUR 0.7 million).
The operating result was EUR 11.1 million (previous year: EUR 1.0 million).

Baader Bank's retained earnings are EUR 8.4 million. A dividend of EUR 0.05
(previous year: EUR 0.03) will be proposed to shareholders at the Annual
General Meeting on 17 June 2013. The distribution will be made from the
taxable deposit account.

Net interest income and other current income fell by 5.1% to EUR 6.5
million, primarily due to a lower interest margin.

A substantial increase in net fee and commission income was recorded.
Compared with 2011, it increased by 25.6% to EUR 39.2 million. This
reflects the successful expansion of the business model in the area of
investment banking.

Investors were cautious in the volatile stock market environment of 2012,
causing stock exchange turnover to plummet. Turnover on the Frankfurt Stock
Exchange fell by 27.7% compared with the previous year, while Baader Bank's
net trading income declined by 23.3% to EUR 35.5 million.

This also resulted in a change in the basis of measurement for
contributions to the fund for general bank risks in accordance with Section
340e (4) HGB, so that a sum of EUR 2.8 million could be released (previous
year: EUR 5.9 million).

At EUR 93.2 million, administrative expenses were 3.9% above the previous
year's level of EUR 89.8 million, mainly due to increased regulatory
requirements. The Baader Bank Group employed 430 people at the end of the
year (31 December 2011: 414).

At the end of the year the Group had equity totalling EUR 138.9 million
when taking into account the fund for general banking risks (31.12.2011:
EUR 135,1 million). The Group's equity ratio at the reporting date is
21.6%.

Outlook
Market making should be significantly boosted by higher securities
turnover. The expansion of OTC trading and further consolidation expected
within the sector are also expected to have a positive impact.
In investment banking, Baader Bank expects to benefit from two
developments: the growing significance of capital market financing for
companies and demand among institutional investors for specialist trading
partners with local expertise.

The planned acquisition of the Swiss broker Helvea will represent an
important milestone for business with institutional investors (see press
release of 30.11.2012). Following the merger, clients of both institutions
will benefit from a wider regional focus on equities from Germany, Austria
and Switzerland.

Based on these assumptions, targeted and forecast growth for the years 2013
and 2014, as measured by average pre-tax earnings (3-year average), is also
expected to brighten prospects for average annual profit before tax.

<pre>

Key figures in EUR m                          2012  2011 Change            
Net interest income and other current income   6.5   6.9              -5.1%
Net fee and commission income                 39.2  31.2              25.6%
Net trading income                            35.5  46.3             -23.3%
Administrative expenses                      -93.2 -89.8               3.9%
Other income/expenses                          3.9   1.1              >100%
Loan loss provisions                          19.2   5.3              >100%
Operating result                              11.1   1.0              >100%
Net profit after taxes                         8.8   0.7              >100%
Equity                                       111.6 105.0               6.3%
Fund for general banking risks                27.3  30.1              -9.3%
Equity ratio                                 21.6% 19.6%              10.4%


</pre>


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Language:    English                                                  
Company:     Baader Bank AG                                           
             Weihenstephaner Str. 4                                   
             85716 Unterschleißheim                                   
             Germany                                                  
Phone:       +49 89 5150 1882                                         
Fax:         +49 89 5150 29 1880                                      
E-mail:      communications@baaderbank.de                             
Internet:    www.baaderbank.de                                        
ISIN:        DE0005088108                                             
WKN:         508810                                                   
Listed:      Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,    
             München (m:access), Stuttgart; Frankfurt in Open Market  
 
 
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