DGAP-Adhoc: MWB Wertpapierhandelsbank AG - Consolidated Results Pursuant to IFRS for the First Half of 2006
2006-07-24 09:44
Gräfelfing/Munich, July 24, 2006 - The Munich-based MWB
Wertpapierhandelsbank AG has significantly increased its consolidated
results for the first half of 2006 as compared to the preceding year's
period. In spite of a decline in turnover in June, commission income rose
13% from EUR 1,306 thousand to EUR 1,472 thousand in the first six months
of 2006. Trading profits rose by a remarkable 112% reaching EUR 5,309
thousand (preceding year: EUR 2,499 thousand).
By contrast, general administrative expenses in the first half of 2006 only
increased by 38% to EUR 4,937 thousand (preceding year: EUR 3,584
thousand). Although personnel costs rose from EUR 1,306 thousand to
EUR 1,818 thousand (+75%), this figure already includes performance-related
bonuses and premiums totaling EUR 663 thousand. The number of group-wide
employees increased to 34 as compared to 28 in the first half of 2005.
Thanks to a disciplined adherence to our cost management, other
administrative costs increased only moderately by 22% from EUR 2,548
thousand to EUR 3,119 thousand.
As a result, there was a distinct increase in profits from ordinary
activities as compared to the first half of 2005 - up 385% from EUR 465
thousand to EUR 2,257 thousand. Consolidated net income for the first six
months rose from EUR 447 thousand to EUR 2,011 thousand (+350%). The
development of MWB Wertpapierhandelsbank AG's equity also mirrors this
improvement. It reached EUR 18,872 thousand by June 30, 2006, an increase
of EUR 2,017 thousand as compared to December 31, 2005. Liquidity enjoyed a
EUR 727 thousand increase from the close of 2005 rising to EUR 13,579
thousand as of June 30, 2006.
---------------------------------------------------------------------------
Information and Explaination of the Issuer to this News:
MWB Wertpapierhandelsbank AG (www.mwb.de) was founded in 1993. The company
has been listed since April 1999 and has been admitted to the Prime
Standard segment of the Deutsche Börse AG since January 1, 2003. MWB
operates in three main divisions: Securities Trading, Institutional
Clients, and Private Clients. Securities Trading includes order-book
management for shares, for open-ended investment funds, and for
fixed-interest securities. The company's traditional area of expertise is
in the area foreign stocks, this having been expanded to include
own-account trading with international securities. The Institutional
Clients division comprises order execution for banks, brokerage for
institutional clients, designated sponsoring, and capital markets business.
The Private Clients division is concerned with the management of private
assets. Responsible for this division is the MWB Baden GmbH, a subsidiary
of MWB in which it holds a 60% interest. MWB was also granted a license at
the start of 2006 to operate issuing business. Since the acquisition of the
Berlin-based bond order book-manager, C.J. Diederich, the company intends
to consistently expand its business with fixed-interest securities. The
company is admitted to the stock exchanges in Munich, Berlin, Frankfurt,
Düsseldorf, Stuttgart, and Hamburg.
Contact:
MWB Wertpapierhandelsbank AG
Thomas Posovatz
Rottenbucher Straße 28
82166 Gräfelfing
Tel.: 089/85 85 2-500
Fax: 089/85 85 2-505
E-Mail: investor-relations@mwb.de
Wertpapierhandelsbank AG has significantly increased its consolidated
results for the first half of 2006 as compared to the preceding year's
period. In spite of a decline in turnover in June, commission income rose
13% from EUR 1,306 thousand to EUR 1,472 thousand in the first six months
of 2006. Trading profits rose by a remarkable 112% reaching EUR 5,309
thousand (preceding year: EUR 2,499 thousand).
By contrast, general administrative expenses in the first half of 2006 only
increased by 38% to EUR 4,937 thousand (preceding year: EUR 3,584
thousand). Although personnel costs rose from EUR 1,306 thousand to
EUR 1,818 thousand (+75%), this figure already includes performance-related
bonuses and premiums totaling EUR 663 thousand. The number of group-wide
employees increased to 34 as compared to 28 in the first half of 2005.
Thanks to a disciplined adherence to our cost management, other
administrative costs increased only moderately by 22% from EUR 2,548
thousand to EUR 3,119 thousand.
As a result, there was a distinct increase in profits from ordinary
activities as compared to the first half of 2005 - up 385% from EUR 465
thousand to EUR 2,257 thousand. Consolidated net income for the first six
months rose from EUR 447 thousand to EUR 2,011 thousand (+350%). The
development of MWB Wertpapierhandelsbank AG's equity also mirrors this
improvement. It reached EUR 18,872 thousand by June 30, 2006, an increase
of EUR 2,017 thousand as compared to December 31, 2005. Liquidity enjoyed a
EUR 727 thousand increase from the close of 2005 rising to EUR 13,579
thousand as of June 30, 2006.
---------------------------------------------------------------------------
Information and Explaination of the Issuer to this News:
MWB Wertpapierhandelsbank AG (www.mwb.de) was founded in 1993. The company
has been listed since April 1999 and has been admitted to the Prime
Standard segment of the Deutsche Börse AG since January 1, 2003. MWB
operates in three main divisions: Securities Trading, Institutional
Clients, and Private Clients. Securities Trading includes order-book
management for shares, for open-ended investment funds, and for
fixed-interest securities. The company's traditional area of expertise is
in the area foreign stocks, this having been expanded to include
own-account trading with international securities. The Institutional
Clients division comprises order execution for banks, brokerage for
institutional clients, designated sponsoring, and capital markets business.
The Private Clients division is concerned with the management of private
assets. Responsible for this division is the MWB Baden GmbH, a subsidiary
of MWB in which it holds a 60% interest. MWB was also granted a license at
the start of 2006 to operate issuing business. Since the acquisition of the
Berlin-based bond order book-manager, C.J. Diederich, the company intends
to consistently expand its business with fixed-interest securities. The
company is admitted to the stock exchanges in Munich, Berlin, Frankfurt,
Düsseldorf, Stuttgart, and Hamburg.
Contact:
MWB Wertpapierhandelsbank AG
Thomas Posovatz
Rottenbucher Straße 28
82166 Gräfelfing
Tel.: 089/85 85 2-500
Fax: 089/85 85 2-505
E-Mail: investor-relations@mwb.de