Corporate | 27 April 2010 07:30
Baader Bank AG / Quarter Results 27.04.2010 07:30 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Unterschleissheim, 27 April 2010 Baader Bank AG, Germany's leading securities trading specialist, has made a good start to the 2010 financial year generating net profits after tax of EUR 3.8 million in the first quarter, up from EUR 2.1 million in the same period last year. Profit from ordinary activities in Q1 2010 more than doubled over that of the same quarter in 2009 to EUR 5.8 million (previous year: EUR 2.6 million). 'The main driver of this performance was the recovery in equity volumes on the German stock exchanges', said Mr Uto Baader, Chairman of the Board of Directors of Baader Bank AG, ahead of the company's annual results press conference in Munich. In Q1 2010 equity turnover on all German stock exchanges rose by 17.5% to EUR 321.6 billion. In 2009 overall equity turnover had fallen by almost half (-47.1%) compared to the previous year. 'We have benefited accordingly from this trend turnaround', said Baader, whose bank manages trading of around 14,000 equity order books on five German stock exchanges. This development is reflected by the 17.4% increase in net fee and commission income to EUR 9.9 million as well as the 18.1% rise in net trading income to EUR 17.0 million. As at 31 March 2010 the Group's equity amounted to EUR 182.6 million (31 December 2009: EUR 177.6 million). The earnings per share figure in Q1 was EUR 0.08 (Q1 2009: 0.05). Baader Bank reports in line with the International Financial Reporting Standards (IFRS). As at 31 March 2010 Group headcount at 353 was virtually the same as at last year (31 March 2009: 352).Key figures (EUR million) Q1 2010 Q1 2009 Net fee and commission income 9.9 8.6 Net trading income 17.0 14.4 Administrative expenses -22.6 -22.1 Profit/loss from operations 5.6 0.8 Profits from ordinary activities 5.8 2.6 Earnings after taxes 3.8 2.1With around 350 employees and a global network covering the world's most important stock exchanges, Baader Bank AG, headquartered in Unterschleissheim near Munich, is Germany's leading securities trading specialist. In addition, the bank acts for institutional customers as a provider of services in securities and other financial instruments such as futures and options. www.baaderbank.de; www.baadermarkets.de Thomas Spengler, Head of Corporate Communications Baader Bank Aktiengesellschaft, Postfach 1102, 85701 Unterschleissheim Phone +49 89 5150-1030, fax +49 89 5150-291030, cell. +49 160 7188830 E-Mail: thomas.spengler@baaderbank.de 27.04.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Baader Bank AG Weihenstephaner Str. 4 85716 Unterschleissheim Deutschland Phone: +49 (0)89/ 5150-0 Fax: +49 (0)89/ 5150-291030 E-mail: info@Baaderbank.de Internet: www.Baaderbank.de ISIN: DE0005088108 WKN: 508810 Listed: Freiverkehr in Berlin, München, Hannover, Düsseldorf, Stuttgart, Hamburg; Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------