DGAP-Adhoc: MWB Group Results for the first half of 2003
2003-07-22 09:30
Gräfelfing/Munich, July 22, 2003 - In the first half of 2003, the Munich-based securities trading firm MWB generated a group result from ordinary business activities of minus EUR 1,515,000 (minus EUR 1,044,000 in the previous year). The company was able to slightly increase the commission result to EUR 474,000 from EUR 463,000 in the previous year, thus showing signs that the concept of changing from risk orientation to commission orientation has been successful. However, there is still no momentum behind trade in foreign stocks. As far as MWB is concerned, this is reflected in a trading result of EUR 1,162,000 compared to EUR 1,954,000 the previous year. General administrative expenses were again reduced from EUR 3,900,000 in the previous year to EUR 3,430,000. This includes a reduction in other administrative expenses from EUR 2,414,000 in the previous year to EUR 1,969,000, and a reduction in personnel expenses from EUR 1,486,000 (previous year) to EUR 1,461,000. Equity amounting to EUR 18.3 million and liquidity amounting to EUR 13.9 million slightly decreased compared with the figures as of December 31, 2002. Overall, the figures show a clear improvement for the second quarter.
Issuer"s information/explanatory remarks concerning this ad-hoc-announcement:
"We are on the best way to consolidation and we expect a slow market recovery," said the Speaker of the Management Board, Thomas Posovatz. "If you keep in mind that the DAX improved by 1,000 points compared with March you can even talk about muted optimism."
MWB AG ( http://www.mwb.de ) has been listed on the stock exchange since April 1999, and has been licensed for the Prime Standard segment of Deutsche Börse AG since January 1, 2003. It acts as a specialist and market maker for German and international stocks. The company has seats on the stock exchanges in Munich, Berlin, Frankfurt, Düsseldorf and Stuttgart. Another business area of MWB AG includes asset management with its 100% subsidiary, MWB Wertpapierhandelsbank.
Contact and further information:
MWB Wertpapierhandelshaus AG
Thomas Posovatz
Rottenbucher Straße 28
D-82166 Gräfelfing
Phone: +49 (0) 89-85852500
Fax: +49 (0) 89-85852505
E-mail: investor-relations@mwb.de
Berendson Schwedler & Partner
Holger Schwedler
Unter den Eichen 7
D-65195 Wiesbaden
Phone: +49 (0) 611-5317979
Fax: +49 (0) 611-5317989
E-mail: h.schwedler@pr-bsp.de
Issuer"s information/explanatory remarks concerning this ad-hoc-announcement:
"We are on the best way to consolidation and we expect a slow market recovery," said the Speaker of the Management Board, Thomas Posovatz. "If you keep in mind that the DAX improved by 1,000 points compared with March you can even talk about muted optimism."
MWB AG ( http://www.mwb.de ) has been listed on the stock exchange since April 1999, and has been licensed for the Prime Standard segment of Deutsche Börse AG since January 1, 2003. It acts as a specialist and market maker for German and international stocks. The company has seats on the stock exchanges in Munich, Berlin, Frankfurt, Düsseldorf and Stuttgart. Another business area of MWB AG includes asset management with its 100% subsidiary, MWB Wertpapierhandelsbank.
Contact and further information:
MWB Wertpapierhandelshaus AG
Thomas Posovatz
Rottenbucher Straße 28
D-82166 Gräfelfing
Phone: +49 (0) 89-85852500
Fax: +49 (0) 89-85852505
E-mail: investor-relations@mwb.de
Berendson Schwedler & Partner
Holger Schwedler
Unter den Eichen 7
D-65195 Wiesbaden
Phone: +49 (0) 611-5317979
Fax: +49 (0) 611-5317989
E-mail: h.schwedler@pr-bsp.de