EQS-Adhoc: MWB Wertpapierhandelshaus AG records significantly positive earnings in Q1 2005
2005-04-28 10:08
Graefelfing/Munich, April 28, 2005. Munich-based securities trading company
MWB has substantially improved its consolidated earnings (IFRS) in Q1 2005
on a market which was favorable for the company. Profits from ordinary
activities totaled EUR 613 thousand (Q1 2004: EUR 21 thousand–up
significantly. The primary factors for this rise were mainly the 57%
increase in commission income totaling EUR 718 thousand (Q1 2004: EUR 458
thousand) and trading profits totaling EUR 1,683 thousand (previous year:
EUR 1,216 thousand), or an improvement of 38%. Institutional sales in
particular enjoyed above average growth in the first quarter of 2005.
Personnel expenses fell slightly compared to the first quarter of 2004 by
3% to EUR 570 thousand (previous year: EUR 589 thousand), whereas the other
administrative expenses increased from EUR 1,147 thousand in the first
quarter of 2004 to EUR 1,337 in Q1 2005. This 16% increase mostly reflects
the significantly higher turnover-related costs, in particular for
processing securities transactions. This caused a 10% increase in general
administrative expenses to EUR 1,907 thousand (Q1 2004: 1,736 thousand),
however this is offset by a substantially greater increase in commission
income and trading profits.
As a result of the excellent quarterly results, as of March 31, 2005 equity
lifted to EUR 15,976 thousand (December 31, 2004: EUR 15,460 thousand) and
liquidity also increased as of March 31, 2005 to EUR 11,487 thousand
(December 31, 2004: EUR 10,361 thousand). The number of employees fell
compared to Q1 2004 from 27 to 26.
Information and notes concerning the issuer of this ad hoc disclosure:
MWB AG (www.mwb.de) has been listed on the stock exchange since April 1999
and has been listed in the Prime Standard segment of Deutsche Börse AG
since January 1, 2003. MWB's core business is being a specialist and market
maker for foreign stocks, supplemented by order execution for financial
institutions, Designated Sponsoring as well as institutional sales.
Furthermore MWB AG is active in the private asset management business with
MWB Baden, holding a 60 percent interest in this company. The company has
applications on the stock exchanges in Munich, Berlin, Frankfurt,
Düsseldorf and Stuttgart.
Contact:
MWB Wertpapierhandelshaus AG
Thomas Posovatz
Rottenbucher Straße 28
82166 Graefelfing
Tel.: 0049/89/85 85 2-500
Fax: 0049/89/85 85 2-505
E-Mail: investor-relations@mwb.de
MWB has substantially improved its consolidated earnings (IFRS) in Q1 2005
on a market which was favorable for the company. Profits from ordinary
activities totaled EUR 613 thousand (Q1 2004: EUR 21 thousand–up
significantly. The primary factors for this rise were mainly the 57%
increase in commission income totaling EUR 718 thousand (Q1 2004: EUR 458
thousand) and trading profits totaling EUR 1,683 thousand (previous year:
EUR 1,216 thousand), or an improvement of 38%. Institutional sales in
particular enjoyed above average growth in the first quarter of 2005.
Personnel expenses fell slightly compared to the first quarter of 2004 by
3% to EUR 570 thousand (previous year: EUR 589 thousand), whereas the other
administrative expenses increased from EUR 1,147 thousand in the first
quarter of 2004 to EUR 1,337 in Q1 2005. This 16% increase mostly reflects
the significantly higher turnover-related costs, in particular for
processing securities transactions. This caused a 10% increase in general
administrative expenses to EUR 1,907 thousand (Q1 2004: 1,736 thousand),
however this is offset by a substantially greater increase in commission
income and trading profits.
As a result of the excellent quarterly results, as of March 31, 2005 equity
lifted to EUR 15,976 thousand (December 31, 2004: EUR 15,460 thousand) and
liquidity also increased as of March 31, 2005 to EUR 11,487 thousand
(December 31, 2004: EUR 10,361 thousand). The number of employees fell
compared to Q1 2004 from 27 to 26.
Information and notes concerning the issuer of this ad hoc disclosure:
MWB AG (www.mwb.de) has been listed on the stock exchange since April 1999
and has been listed in the Prime Standard segment of Deutsche Börse AG
since January 1, 2003. MWB's core business is being a specialist and market
maker for foreign stocks, supplemented by order execution for financial
institutions, Designated Sponsoring as well as institutional sales.
Furthermore MWB AG is active in the private asset management business with
MWB Baden, holding a 60 percent interest in this company. The company has
applications on the stock exchanges in Munich, Berlin, Frankfurt,
Düsseldorf and Stuttgart.
Contact:
MWB Wertpapierhandelshaus AG
Thomas Posovatz
Rottenbucher Straße 28
82166 Graefelfing
Tel.: 0049/89/85 85 2-500
Fax: 0049/89/85 85 2-505
E-Mail: investor-relations@mwb.de