DGAP-Adhoc: MWB in the black again - Foreign stock market regains buoyancy
2004-04-22 10:15
Gräfelfing/Munich, April 22, 2004. Thanks to the positive trend on the stock exchanges and big in-creases in turnover of foreign shares, the Munich-based securities trading house MWB was able to improve its group result for ordinary activities to plus EUR 21,000 (1st quarter 2003: EUR -1,041,000), an improvement of more than 100 percent.
The commission result increased 113 percent to EUR 458,000 (1st quarter 2003: EUR 215,000), the trading result even improved by 466 percent to EUR 1,216,000 (1st quarter 2003: EUR 215,000). However, at a total of EUR 1,736,000 (1st
quarter 2003: EUR 1,590,000) the administrative expenses were up slightly on the previous year"s figures. This was due to an increase in the other administrative expenses from EUR 865,000 in the previous year to EUR 1,147,000, since increased turnover brought about an increase in settlement charges. Personnel expenses were cut to EUR 589,000 (1st quarter 2003: EUR 725,000). At EUR 12,601,000 (as at 31.12.2003: EUR 13,341,000), liquidity is still secure, equity amounts to EUR 17,776,000 (as at 31.12.2003: EUR 17,522,000), representing an equity ratio of 88% (as at 31.12.2003: 89%). On March 31, 2004, MWB AG had 27 employees (1st quarter 2003: 30).
Issuer"s information/explanatory remarks concerning this ad-hoc-announcement:
With its figures for the first quarter of 2004, MWB AG was able to achieve a positive result for the first time since the third quarter of 2000. This is an indication that private investors once again have more trust in the future on the stock exchanges, which is reflected in the considerably increased turnover of shares - particularly foreign shares - in the first quarter of 2004 in Germany. This result also clearly underlines that the company"s strategic decision to move away from risk towards commission was correct. The MWB executive board is confident about the development of the capital markets and hence also about the results of MWB AG in the further course of this year.
MWB AG (http://www.mwb.de) has been listed on the stock exchange since April 1999, and has been li-censed for the Prime Standard Segment of the Deutsche Börse AG since January 2003. MWB"s core business is being a specialist and
market maker for international stocks, supplemented by order exe-cution for banks and institutional sales. Furthermore MWB AG is active in the private asset manage-ment 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.
The commission result increased 113 percent to EUR 458,000 (1st quarter 2003: EUR 215,000), the trading result even improved by 466 percent to EUR 1,216,000 (1st quarter 2003: EUR 215,000). However, at a total of EUR 1,736,000 (1st
quarter 2003: EUR 1,590,000) the administrative expenses were up slightly on the previous year"s figures. This was due to an increase in the other administrative expenses from EUR 865,000 in the previous year to EUR 1,147,000, since increased turnover brought about an increase in settlement charges. Personnel expenses were cut to EUR 589,000 (1st quarter 2003: EUR 725,000). At EUR 12,601,000 (as at 31.12.2003: EUR 13,341,000), liquidity is still secure, equity amounts to EUR 17,776,000 (as at 31.12.2003: EUR 17,522,000), representing an equity ratio of 88% (as at 31.12.2003: 89%). On March 31, 2004, MWB AG had 27 employees (1st quarter 2003: 30).
Issuer"s information/explanatory remarks concerning this ad-hoc-announcement:
With its figures for the first quarter of 2004, MWB AG was able to achieve a positive result for the first time since the third quarter of 2000. This is an indication that private investors once again have more trust in the future on the stock exchanges, which is reflected in the considerably increased turnover of shares - particularly foreign shares - in the first quarter of 2004 in Germany. This result also clearly underlines that the company"s strategic decision to move away from risk towards commission was correct. The MWB executive board is confident about the development of the capital markets and hence also about the results of MWB AG in the further course of this year.
MWB AG (http://www.mwb.de) has been listed on the stock exchange since April 1999, and has been li-censed for the Prime Standard Segment of the Deutsche Börse AG since January 2003. MWB"s core business is being a specialist and
market maker for international stocks, supplemented by order exe-cution for banks and institutional sales. Furthermore MWB AG is active in the private asset manage-ment 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.