Corporate | 12 November 2012 07:27
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DF Deutsche Forfait AG / Key word(s): Quarter Results
DF Deutsche Forfait AG considerably increases pre-tax profit – 26% increase to EUR 3.4 million in the first nine months – Consolidated profit rises by 14% to EUR 2.1 million – Forfaiting volume on par with previous year at EUR 519 million Cologne, 12 November 2012 − DF Deutsche Forfait AG recorded positive development during the course of the current year. Based on preliminary figures, consolidated profit increased by 14% year-on-year to EUR 2.1 million. Pre-tax profit rose by as much as 26%, another sign of the Group's positive business development. DF Group generated a forfaiting volume of EUR 519.0 million in the first nine months (previous year: EUR 524.9 million). The forfaiting margin remained unchanged at the high level of 1.9%. The gross result including financial results, which is the key performance figure for success in the forfaiting business, came to EUR 10.1 million, roughly on par with the previous year's figure of EUR 10.4 million. Administrative costs decreased considerably by 12% to EUR 6.8 million. Jochen Franke, CFO of DF Deutsche Forfait AG: 'DF Group has been developing in line with our positive expectations for the current year. We have generated very stable income despite a difficult start in the first months and have gone a long way toward achieving our goal of significantly improving efficiency in terms of administrative costs. We expect a clearly positive consolidated result for full year 2012, which will enable us to distribute an attractive dividend.' As announced, the full nine-month report will be published on 27 November 2012. 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
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| 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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| 192606 12.11.2012 |