IKB Deutsche Industriebank AG / Preliminary Results/Half Year Results
19.11.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
IKB Deutsche Industriebank AG is forecasting a consolidated net loss of EUR
398 million (IFRS) for the first half of the 2009/10 financial year (1
April 2009 to 30 September 2009). The loss is mainly due to the negative
fair value result as the fair value gains on the assets side of the balance
sheet were significantly exceeded by the fair value losses on the equity
and liabilities side. Loan loss provisions also increased as anticipated.
Significant gains were generated on the remeasurement of compensation
agreements, some profit-participation certificates and silent partnership
contributions. These gains are shown under Net other operating income.
The Board of Managing Directors
Düsseldorf, 19 November 2009
---------------------------------------------------------------------------
Information and Explaination of the Issuer to this News:
The current higher measurement of liabilities carried at fair value in line
with IAS 39 led to losses in the income statement. The market prices and
spreads used to measure these items are showing an improvement in the
perception of IKB's credit rating on the market. As a result, gains
previously recognised in the income statement that arose on account of a
less favourable credit rating assessment at the time by the markets are now
being reversed owing to the current measurement of liabilities in profit
and loss. This negative earnings effect was far stronger than the fair
value gains on the assets side of the balance sheet, which arose at IKB on
account of the generally improved situation on the capital markets. The
compensation agreements measured in line with IFRS 39 AG8 and some of the
profit participation certificates and silent partnership contributions are
measured and reported at the present value of estimated future cash flows;
the gain on remeasurement is shown under Net other operating income. Loan
loss provisions increased on account of the lingering poor economic
situation but are still in line with our planning. IKB will publish its
half-year financial report for 2009/10 on 26 November 2009.
Dr. Jörg Chittka, Phone: +49 211 8221-4349; Patrick von der Ehe, Phone: +49
211 8221-4776; Fax: +49 211 8221-3959, E-mail: press@ikb.de
19.11.2009 Financial News distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
---------------------------------------------------------------------------
Language: English
Company: IKB Deutsche Industriebank AG
Wilhelm-Bötzkes-StraÃe 1
40474 Düsseldorf
Deutschland
Phone: +49 (0)211 8221-4511
Fax: +49 (0)211 8221-2511
E-mail: investor.relations@ikb.de
Internet: www.ikb.de
ISIN: DE0008063306
WKN: 806330
Listed: Regulierter Markt in Frankfurt (General Standard)
End of News DGAP News-Service
---------------------------------------------------------------------------
DGAP-Adhoc: IKB Deutsche Industriebank AG: 6-month figures 2009/10
| Source: EQS Group AG