Corporate | 25 August 2011 07:17
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DF Deutsche Forfait AG / Key word(s): Preliminary Results/Interim Report
Corporate News Quarterly figures DF Deutsche Forfait AG: Positive result trend confirmed in Q2 – Consolidated profit increased again compared to previous quarter – Outlook for forfaiting business remains favorable Cologne, 25 August 2011 – After DF Deutsche Forfait AG's favorable start to the 2011 financial year, positive developments continued in the second quarter. Preliminary consolidated profit amounted to EUR 0.7 million for the period from April to June 2011. This is the best quarterly result since the first quarter of 2010, which came in at EUR 1.1 million, although under completely different market conditions. The result for the first half of the year came in at EUR 1.4 million (previous year: EUR 1.6 million). Forfaiting volume in the first six months rose 7% to EUR 358.6 million, while the forfaiting margin of 1.9% remained at the high level of the previous year period, still exceeding the long-term average by far. Jochen Franke, CFO of DF Deutsche Forfait AG, said: 'We are very satisfied with our business performance in the first half of 2011. Despite the expected slow-down of international economic growth, the market for forfaiting transactions remains attractive. And as improvement measures in sales start to show an effect, we are confident about the second half of the year.' The company expects forfaiting volume and consolidated profit to rise considerably in the full year 2011 compared to the previous year, provided that recent turbulence on the financial markets will not cause another major financial crisis. As previously announced, the Half-Year Report H1 2011 will be available as of 30 August 2011. About DF Group The main business activities of DF Group are the purchase and sale of selected export receivables in emerging markets on a non-recourse basis. The objective is to sell the acquired receivables at the same time or in the short term. Forfaiting is an increasingly important tool in export financing, with volumes rising in line with the continuing advance of globalization. Creating tradable products from receivables benefits both exporters and buyers. As well as transferring risk to the buyer, the main benefit of forfaiting for exporters is the inflow of cash. This relieves the exporters' credit lines and improves their balance sheet structure. DF Deutsche Forfait AG structures receivables attractively, so that investors seek them as a type of investment.
DF Deutsche Forfait AG
Kattenbug 18 – 24
End of Corporate News 25.08.2011 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: | DF Deutsche Forfait AG | |
| Kattenbug 18-24 | ||
| 50667 Köln | ||
| Germany | ||
| Phone: | +49 (0)221 – 973 76 0 | |
| Fax: | +49 (0)221 – 973 76 76 | |
| E-mail: | dfag@dfag.de | |
| Internet: | www.dfag.de | |
| ISIN: | DE0005488795 | |
| WKN: | 548879 | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart | |
| End of News | DGAP News-Service |
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| 136856 25.08.2011 |