DGAP-News: Aareal Bank AG / Key word(s): Final Results Aareal Bank Group publishes Annual Report 2014 (news with additional features) 27.03.2015 / 08:32 --------------------------------------------------------------------- Aareal Bank Group publishes Annual Report 2014 Wiesbaden, 27 March 2015 - Aareal Bank Group published its Annual Report 2014 today. In addition to information on the Bank's business model and its activities in the two business segments, the Annual Report also includes audited consolidated financial statements in accordance with IFRSs and the Bank's Group Management Report for 2014. Based on audited results, consolidated operating profit was EUR 436 million, and therefore more than double the previous year's level (2013: EUR 198 million). This marked rise can be attributed to a strong operational performance, as well as a positive non-recurring effect in the amount of EUR 154 million from the acquisition of COREALCREDIT BANK AG (Corealcredit), a transaction that was closed on 31 March 2014. Adjusted for this effect, consolidated operating profit amounted to EUR 282 million, in line with the preliminary figures communicated during the annual press conference on 25 February 2015. The Bank thus ended the 2014 financial year with a record result. Aareal Bank intends to allow its shareholders to adequately participate in consolidated profit generated during the 2014 financial year. As announced during February's annual press conference, the Management Board and the Supervisory Board will propose a 60 per cent increase in the dividend - from EUR 0.75 to EUR 1.20 per share - to the Annual General Meeting of Aareal Bank AG, which will be held on 20 May 2015. This equals a distribution ratio, adjusted for the negative goodwill from the acquisition of Corealcredit, of about 50 per cent. Aareal Bank thus adheres to its dividend policy, according to which approximately 50 per cent of consolidated profit (determined in accordance with IFRSs) after servicing hybrid capital instruments, will be distributed - to the extent that this is consistent with the Bank's long-term and sustained business development. As with the negative goodwill resulting from the acquisition of Corealcredit in 2014, the expected negative goodwill resulting from the acquisition of Westdeutsche Immobilienbank AG ("WestImmo") would not be included in the calculation of potential dividend payments for the 2015 financial year. "The positive business development in 2014 signifies both confirmation and motivation for us: we see it as further proof of the sustainability of our business model, as well as evidence of the operative strength we are capable of," Dr Wolf Schumacher, Chairman of the Management Board, wrote in his letter to shareholders. Moreover, in its Annual Report Aareal Bank affirms the outlook for 2015, as communicated during the annual press conference. Overall, the Bank sees good opportunities, including the positive non-recurring effect from the acquisition of WestImmo announced on 22 February 2015, to achieve consolidated operating profit of between EUR 400 million and EUR 430 million for the current year. This non-recurring effect is expected to be approximately EUR 150 million. The Bank's other forecasts for the 2015 financial year also include provisional figures for WestImmo, whereas its actual contribution essentially depends on the closing date. The full annual report for 2014 is available from Aareal Bank's website: http://www.aareal-bank.com/financial-reports. Contact: Aareal Bank AG Corporate Communications Sven Korndörffer Tel.: +49 611 348 2306 sven.korndoerffer@aareal-bank.com Christian Feldbrügge Tel.: +49 611 348 2280 christian.feldbruegge@aareal-bank.com Heinrich Frömsdorf Tel.: +49 611 348 2061 heinrich.froemsdorf@aareal-bank.com Alessandro Schwarz Tel.: +49 611 348 2923 alessandro.schwarz@aareal-bank.com ------------------------------------ Aareal Bank AG, Registered Office: Wiesbaden Commercial Register: Amtsgericht Wiesbaden HRB 13184 Chairman of the Supervisory Board: Marija G. Korsch Management Board: Dr. Wolf Schumacher (Chairman), Hermann J. Merkens (Deputy Chairman), Dagmar Knopek, Thomas Ortmanns +++++ Additional features: Document: http://n.equitystory.com/c/fncls.ssp?u=MKXNHNNJLX Document title: 20150327_Press Release.pdf --------------------------------------------------------------------- 27.03.2015 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. The DGAP 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: Aareal Bank AG Paulinenstr.15 65189 Wiesbaden Germany Phone: +49 (0)611 348 - 0 Fax: +49 (0)611 348 - 2332 E-mail: aareal@aareal-bank.com Internet: www.aareal-bank.com ISIN: DE0005408116 WKN: 540811 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart; Stockholm End of News DGAP News-Service --------------------------------------------------------------------- 338385 27.03.2015
DGAP-News: Aareal Bank Group publishes Annual Report 2014 (news with additional features)
| Source: EQS Group AG