Corporate | 19 December 2014 18:29
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DF Deutsche Forfait AG / Key word(s): Quarter Results
Cologne, 19 December 2014 – DF Deutsche Forfait AG (Prime Standard, ISIN: DE0005488795) booked a consolidated net loss of EUR 2.7 million (previous year: consolidated net income EUR 0.5 million) for the first three months of the year 2014. This corresponds to negative earnings per share of EUR -0.40 (previous year: EUR 0.07). The primary driver of the negative result was the naming of the company in the U.S. OFAC sanctions list on 6 February 2014, which considerably restrained the company’s ability to conduct its business. On 16 October the company’s name was removed from the list without any fine being imposed. The company is currently preparing a number of measures to strengthen its equity basis and its debt structure.
The full report on the first three months of 2014 will be available on the company’s website under “Investor Relations” on 23 December 2014. 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
19.12.2014 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: | 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, DE000A1R1CC4, | |
| WKN: | 548879, A1R1CC | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart | |
| End of News | DGAP News-Service |
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| 307873 19.12.2014 |