DGAP-News: Baader Bank AG / Key word(s): Preliminary Results
Baader Bank AG: Baader Bank increases net trading income and net fee
and commission income
20.03.2015 / 07:40
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Baader Bank increases net trading income and net fee and commission income
Based on preliminary figures, Baader Bank Group achieved a small operating
profit of EUR 0.2 million for 2014 (2013: EUR 1.5 million). The group
posted a net loss after taxes of EUR 1.5 million (2013: net loss of EUR 0.2
million). Both net trading and net fee and commission income were higher
compared with the previous year. In contrast, the costs of closing the
Inter Dealer Brokerage Fixed Income segment, higher administrative
expenses, lower net interest income, write-downs on equity investments as
well as acquisition-related integration expenses, all had an adverse effect
on earnings. On 22 June 2015, at the General Meeting of Shareholders of
Baader Bank for the financial year 2014, shareholders will be asked to
approve an unchanged dividend of EUR 0.01.
Market Making continued to grow in the past financial year. Despite a
slight reduction in the number of shares traded on Germany's regional stock
exchanges, net trading income increased by 2.6 per cent to EUR 43.7 million
(2013: EUR 42.6 million). Baader Bank Group also posted further growth in
Investment Banking, primarily through expanding the institutional customer
business and successfully supporting numerous capital market transactions.
Net fee and commission income rose by EUR 2.9 million to EUR 52.4 million
(2013: EUR 49.5 million). Among the subsidiaries, Baader & Heins Capital
Management AG performed particularly well. The integration of Helvea Group
was successful, but it incurred start-up losses, as expected. Although
Conservative Concept Portfolio Management AG considerably increased assets
under management, its net fee and commission income declined.
At EUR 1.3 million, net interest income was markedly lower compared with
the previous year's result of EUR 4.5 million due to the current low
interest rates and portfolio reallocations. Administrative expenses were
higher at EUR 112.0 million (2013: EUR 105.4 million) because of increased
regulatory requirements, restructuring and the integration of Helvea Group.
As of 31 December 2014, Baader Bank Group employed 480 members of staff (31
December 2013: 473).
Taking into account the fund for general banking risks, equity at the
yearend amounted to EUR 132.0 million (31 December 2013: EUR 135.4
million). The group's equity ratio stood at 16.4 per cent (31 December
2013: 17.8 per cent). The fund for general banking risks decreased because
of a release totalling EUR 1.9 million and amounted to EUR 23.3 million on
31 December 2014 (31 December 2013: EUR 25.2 million). Baader Bank Group's
total assets rose to EUR 663.3 million (31 December 2013: EUR 617.9
million).
Prospects
Baader Bank Group anticipates another considerable increase in net trading
income during the current financial year 2015, primarily because of the
pickup in trading volumes on the markets. It also expects higher net fee
and commission income in its existing business. This growth, however, is
not yet sufficient to offset fully the lack of net fee and commission
income from the Inter Dealer Brokerage Fixed Income segment, which was
wound up in 2014. Following the successful integration of Helvea,
administrative expenses are expected to be around the level of the previous
year, despite the increasing burden of regulatory requirements.
<pre>
Key figures in EUR million 2014 2013
Net interest income 1.3 4.5
Current income 1.9 1.7
Net fee and commission income 52.4 49.5
Net trading income 43.7 42.6
Administrative expenses -112.0 -105.4
Other income/expenses 13.9 4.1
Risk provisions -1.0 4.5
Operating profit 0.2 1.5
Net loss after taxes -1.5 -0.2
Equity 108.8 110.2
Fund for general banking risks 23.3 25.2
Eigenkapitalquote 16.4% 17.8%
</pre>
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20.03.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Baader Bank AG
Weihenstephaner Str. 4
85716 UnterschleiÃheim
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: Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich (m:access), Stuttgart; Open
Market in Frankfurt
End of News DGAP News-Service
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335379 20.03.2015
DGAP-News: Baader Bank AG: Baader Bank increases net trading income and net fee and commission income
| Source: EQS Group AG