DGAP-Adhoc: mwb Wertpapierhandelsbank AG:Provisional Consolidated Results (IFRS) as of Third Quarter 2007 - Profits from Ordinary Activities up 17 % compared to Q3 2006
2007-10-23 10:09
Gräfelfing/Munich, 23 October 2007. mwb Wertpapierhandelsbank AG has
recorded distinctly better results in the first nine months of 2007 than in
the same period last year. Increased stock market turnover, and the higher
volatility caused by the subprime crisis, provided for a particularly
stimulating third quarter in 2007. On this account, the results from
ordinary activities rose as of September 30, 2007 to EUR 2,485 thousand as
compared to EUR 2,162 thousand in first three quarters of 2006, an increase
of 17%. Net profits as of September 30, 2007 reached EUR 2,289 thousand as
compared to EUR 2,035 thousand in the same period last year.
The upswing in turnover manifested itself predominantly in commission
income, which rose in the first three quarters of 2007 to EUR 3,189
thousand (previous year: EUR 2,540 thousand), a 26 % improvement. Trading
profits fell slightly by 3 % from EUR 5,735 thousand on September 30, 2006
to EUR 5,550 thousand on September 30, 2007. In spite of a distinct rise in
business activities, general administrative expenses increased only
marginally in the first nine months of 2007 to EUR 7,289 thousand as
compared to EUR 6,497 thousand last year (+ 12 %). Personnel expenses at
EUR 2,309 thousand as of September 30, 2007 (previous year: EUR 2,218
thousand) remained nearly the same, while other administrative expenses -
primarily because of turnover-related expenses for processing securities
transactions - rose by 16 % from EUR 4,279 thousand on September 30, 2006
to EUR 4,980 thousand on September 30, 2007. Personnel expenses already
include provisions for performance-related remuneration and bonuses in the
amount of EUR 520 thousand. The number of employees in the group remained
steady at 35 compared to last year.
mwb's equity situation improved in accordance with business development
reaching EUR 19,156 thousand as of September 30, 2007 as compared to EUR
18,753 thousand on December 31, 2006. The company's liquidity decreased as
of September 30, 2007 to EUR 9,951 thousand due to the dividend payment. At
the close of 2006, it amounted to EUR 11,806 thousand.
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
23.10.2007 Financial News transmitted by DGAP
---------------------------------------------------------------------------
Language: English
Issuer: mwb Wertpapierhandelsbank AG
Rottenbucher Straße 28
82166 Gräfelfing
Deutschland
Phone: +49 (0)89 858 52-305
Fax: +49 (0)89 858 52-5 05
E-mail: investor-relations@mwb.de
Internet: www.mwb.de
ISIN: DE0006656101
WKN: 665610
Indices: CDAX, PRIMEALL, CLASSICALLSHARE
Listed: Amtlicher Markt in Berlin, Frankfurt (Prime Standard),
München; Freiverkehr in Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------
recorded distinctly better results in the first nine months of 2007 than in
the same period last year. Increased stock market turnover, and the higher
volatility caused by the subprime crisis, provided for a particularly
stimulating third quarter in 2007. On this account, the results from
ordinary activities rose as of September 30, 2007 to EUR 2,485 thousand as
compared to EUR 2,162 thousand in first three quarters of 2006, an increase
of 17%. Net profits as of September 30, 2007 reached EUR 2,289 thousand as
compared to EUR 2,035 thousand in the same period last year.
The upswing in turnover manifested itself predominantly in commission
income, which rose in the first three quarters of 2007 to EUR 3,189
thousand (previous year: EUR 2,540 thousand), a 26 % improvement. Trading
profits fell slightly by 3 % from EUR 5,735 thousand on September 30, 2006
to EUR 5,550 thousand on September 30, 2007. In spite of a distinct rise in
business activities, general administrative expenses increased only
marginally in the first nine months of 2007 to EUR 7,289 thousand as
compared to EUR 6,497 thousand last year (+ 12 %). Personnel expenses at
EUR 2,309 thousand as of September 30, 2007 (previous year: EUR 2,218
thousand) remained nearly the same, while other administrative expenses -
primarily because of turnover-related expenses for processing securities
transactions - rose by 16 % from EUR 4,279 thousand on September 30, 2006
to EUR 4,980 thousand on September 30, 2007. Personnel expenses already
include provisions for performance-related remuneration and bonuses in the
amount of EUR 520 thousand. The number of employees in the group remained
steady at 35 compared to last year.
mwb's equity situation improved in accordance with business development
reaching EUR 19,156 thousand as of September 30, 2007 as compared to EUR
18,753 thousand on December 31, 2006. The company's liquidity decreased as
of September 30, 2007 to EUR 9,951 thousand due to the dividend payment. At
the close of 2006, it amounted to EUR 11,806 thousand.
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
23.10.2007 Financial News transmitted by DGAP
---------------------------------------------------------------------------
Language: English
Issuer: mwb Wertpapierhandelsbank AG
Rottenbucher Straße 28
82166 Gräfelfing
Deutschland
Phone: +49 (0)89 858 52-305
Fax: +49 (0)89 858 52-5 05
E-mail: investor-relations@mwb.de
Internet: www.mwb.de
ISIN: DE0006656101
WKN: 665610
Indices: CDAX, PRIMEALL, CLASSICALLSHARE
Listed: Amtlicher Markt in Berlin, Frankfurt (Prime Standard),
München; Freiverkehr in Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------