DGAP-Adhoc: mwb fairtrade Wertpapierhandelsbank AG:Provisional Consolidated Results 2008 (IFRS) - Positive Results Despite Financial Crisis

2009-03-10 10:18

Gräfelfing, March 10, 2009. Although mwb fairtrade Wertpapierhandelsbank
AG was forced to acknowledge a decline in profits as a result of the worst
worldwide financial crisis in decades, it was still able to attain positive
annual results. Earnings from ordinary activities fell accordingly from EUR
3,221 thousand in 2007 to EUR 202 thousand. Net income dropped from EUR
2,960 thousand to EUR 314 thousand. These consolidated financial statements
also include FAIRTRADE FINANCE AG after the merger in 2008. Therefore any
comparisons with these and the following figures from the same period of
the preceding year are of limited value only.

The 2008 stock-market year was characterized by declines in turnover, some
of which were enormous, and by a marked increase in volatility. As a result
of this, mwb fairtrade Wertpapierhandelsbank AG attained commission income
of EUR 6,447 thousand in the past fiscal year as compared to EUR 4,256
thousand in 2007. Trading profits stood at EUR 10,480 thousand (preceding
year: EUR 7,452 thousand).

The increase in general administrative expenses was disproportionately low
considering that there had been a merger of two companies of nearly the
same size, namely mwb Wertpapierhandelsbank AG and FAIRTRADE FINANCE AG.
These rose from EUR 9,768 thousand in 2007 to EUR 17,775 thousand in the
2008 fiscal year. Personnel expenses increased from EUR 3,095 thousand in
2007 to EUR 6,177 thousand; other administrative expenses rose from EUR
6,673 thousand in 2007 to EUR 11,598 thousand in the past fiscal year. This
sum includes non-recurring expenditures in conjunction with the merger of
the two companies roughly totalling EUR 350 thousand as well as
amortization in the amount of EUR 408 thousand of intangible assets that
must be capitalized subject to IFRS 3. As of December 31, 2008, Group
employees numbered 70 as compared to 37 on December 31, 2007.

The equity and liquidity situation of mwb fairtrade Wertpapierhandelsbank
AG as of December 31, 2008 was very satisfactory. Equity stood at EUR
29,252 thousand at the close of 2008 in comparison to EUR 17,542 thousand
at the end of the same period of the preceding year. The company's
liquidity as of December 31, 2008 reached EUR 14,758 thousand after EUR
7,097 thousand at the close of the preceding year, which therefore remains
very secure.



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


10.03.2009 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 Berlin, Frankfurt (Prime Standard),
München; Freiverkehr in Düsseldorf, Hamburg, Stuttgart

End of News DGAP News-Service

---------------------------------------------------------------------------

Go back