DGAP-Adhoc: mwb fairtrade Wertpapierhandelsbank AG - Preliminary consolidated results (IFRS) for H1 2009 - Negative result but improvement in Q2
2009-07-22 11:46
Gräfelfing, July 22, 2009. Due to the most severe financial crisis in
decades, the continued uncertainty of investors on the financial markets
has led mwb fairtrade Wertpapierhandelsbank AG to recognize a consolidated
loss from ordinary activities amounting to EUR 1,261 thousand (previous
year: EUR 779 thousand profit). Net loss for the half year amounted to EUR
1,089 thousand (previous year: EUR 384 thousand profit). Although the
Company posts a loss, this result represented a significant improvement in
Q2 2009.
In the second quarter, and thus also throughout the first half of 2009,
activity on the stock market - the crucial factor for mwb fairtrade
Wertpapierhandelsbank AG's core business - was considerably lower than in
previous years. As a result, net commission income fell to EUR 2,048
thousand (previous year EUR 3,190 thousand). Trading profits declined to
EUR 4,771 thousand (previous year EUR 5,403 thousand) due to the
deterioration of trading conditions.
Encouragingly, general administrative expenses remained under control. Due
to the performance-based remuneration model for the Company's securities
traders, staff costs fell to EUR 3,289 thousand (previous year: EUR 3,384
thousand) despite the higher employee headcount in the first half of 2009.
As of June 30, 2009, the Company employed 75 people, up from 65 at the end
of the prior-year period. Other administrative expenses, which were
affected by the costs to enhance and extend the Company's trading
infrastructure, amounted to EUR 5,601 thousand (previous year: EUR 5,371
thousand). This amount includes EUR 334 thousand (previous year: EUR 0) in
impairments on intangible assets recognized in accordance with IFRS 3.
mwb fairtrade Wertpapierhandelsbank AG's capital and liquidity bases remain
solid. The Company's capital base as of June 30, 2009 was EUR 28,238
thousand, as against EUR 29,251 thousand as of December 31, 2008. The
liquidity base, represented as the balance of receivables from and
liabilities to banks fell as compared to the end of 2008 to EUR 13,187
thousand (December 31, 2008: EUR 14,758 thousand).
Contact:
mwb fairtrade 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
22.07.2009 Financial News transmitted by DGAP
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Language: English
Issuer: mwb fairtrade 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: Regulierter Markt in München; Freiverkehr in Berlin,
Düsseldorf, Hamburg, Stuttgart; Open Market in Frankfurt
End of News DGAP News-Service
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decades, the continued uncertainty of investors on the financial markets
has led mwb fairtrade Wertpapierhandelsbank AG to recognize a consolidated
loss from ordinary activities amounting to EUR 1,261 thousand (previous
year: EUR 779 thousand profit). Net loss for the half year amounted to EUR
1,089 thousand (previous year: EUR 384 thousand profit). Although the
Company posts a loss, this result represented a significant improvement in
Q2 2009.
In the second quarter, and thus also throughout the first half of 2009,
activity on the stock market - the crucial factor for mwb fairtrade
Wertpapierhandelsbank AG's core business - was considerably lower than in
previous years. As a result, net commission income fell to EUR 2,048
thousand (previous year EUR 3,190 thousand). Trading profits declined to
EUR 4,771 thousand (previous year EUR 5,403 thousand) due to the
deterioration of trading conditions.
Encouragingly, general administrative expenses remained under control. Due
to the performance-based remuneration model for the Company's securities
traders, staff costs fell to EUR 3,289 thousand (previous year: EUR 3,384
thousand) despite the higher employee headcount in the first half of 2009.
As of June 30, 2009, the Company employed 75 people, up from 65 at the end
of the prior-year period. Other administrative expenses, which were
affected by the costs to enhance and extend the Company's trading
infrastructure, amounted to EUR 5,601 thousand (previous year: EUR 5,371
thousand). This amount includes EUR 334 thousand (previous year: EUR 0) in
impairments on intangible assets recognized in accordance with IFRS 3.
mwb fairtrade Wertpapierhandelsbank AG's capital and liquidity bases remain
solid. The Company's capital base as of June 30, 2009 was EUR 28,238
thousand, as against EUR 29,251 thousand as of December 31, 2008. The
liquidity base, represented as the balance of receivables from and
liabilities to banks fell as compared to the end of 2008 to EUR 13,187
thousand (December 31, 2008: EUR 14,758 thousand).
Contact:
mwb fairtrade 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
22.07.2009 Financial News transmitted by DGAP
---------------------------------------------------------------------------
Language: English
Issuer: mwb fairtrade 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: Regulierter Markt in München; Freiverkehr in Berlin,
Düsseldorf, Hamburg, Stuttgart; Open Market in Frankfurt
End of News DGAP News-Service
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