DGAP-Adhoc: Provisional consolidated results (IFRS) for Q1 2009 - Poor stock market conditions cause negative results
2009-04-22 14:09
Gräfelfing, April 22, 2009. The extremely poor conditions currently
prevailing on the stock markets coupled with a dramatic drop in turnover
led to negative results for mwb fairtrade Wertpapierhandelsbank AG in the
first quarter of 2009. Earnings from ordinary activities fell accordingly
to EUR 1,186 thousand (previous year EUR - 255 thousand). Net income
dropped to EUR -1.099 thousand (previous year: EUR -212 thousand). Since
the merger with FAIRTRADE FINANCE AG was not completed until August 2008,
the comparable figures for the previous year only contain the figures for
(the former) mwb Wertpapierhandelsbank AG.
The marked slump in turnover, especially in January and February of this
year, led to net commission income of EUR 1,019 thousand (previous year EUR
812 thousand) and to trading profits of EUR 1,641 thousand (previous year
EUR 1,156 thousand).
General administrative expenses rose on account of the increased size of
the company to EUR 4,208 thousand (previous year EUR 2,322 thousand).
Personnel expenses increased in response to this to EUR 1,484 thousand
(previous year EUR 739 thousand). As of March 31, 2009, the number of group
employees totalled 75 as compared to 35 at the close of the same quarter in
the preceding year. Other administrative expenses increased in the first
quarter of 2009 to EUR 2,723 thousand (previous year EUR 1,583 thousand).
This figure contains amortization in the amount of EUR 167 thousand
(previous year EUR 0) of intangible assets yet to be included on the
balance sheet pursuant to IFRS 3.
The equity and the liquidity situation of mwb fairtrade
Wertpapierhandelsbank AG changed only slightly as compared to the close of
2008, and thereby continued to be very satisfactory. Equity dropped to EUR
28,169 thousand as compared to EUR 29,252 thousand on December 31, 2008.
Liquidity, as the balance of receivables from and liabilities to banks,
stood at EUR 12,264 thousand as at March 31, 2009 as compared to EUR 14,758
thousand on December 31, 2008.
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
22.04.2009 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 Berlin, Frankfurt (Prime Standard),
München; Freiverkehr in Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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prevailing on the stock markets coupled with a dramatic drop in turnover
led to negative results for mwb fairtrade Wertpapierhandelsbank AG in the
first quarter of 2009. Earnings from ordinary activities fell accordingly
to EUR 1,186 thousand (previous year EUR - 255 thousand). Net income
dropped to EUR -1.099 thousand (previous year: EUR -212 thousand). Since
the merger with FAIRTRADE FINANCE AG was not completed until August 2008,
the comparable figures for the previous year only contain the figures for
(the former) mwb Wertpapierhandelsbank AG.
The marked slump in turnover, especially in January and February of this
year, led to net commission income of EUR 1,019 thousand (previous year EUR
812 thousand) and to trading profits of EUR 1,641 thousand (previous year
EUR 1,156 thousand).
General administrative expenses rose on account of the increased size of
the company to EUR 4,208 thousand (previous year EUR 2,322 thousand).
Personnel expenses increased in response to this to EUR 1,484 thousand
(previous year EUR 739 thousand). As of March 31, 2009, the number of group
employees totalled 75 as compared to 35 at the close of the same quarter in
the preceding year. Other administrative expenses increased in the first
quarter of 2009 to EUR 2,723 thousand (previous year EUR 1,583 thousand).
This figure contains amortization in the amount of EUR 167 thousand
(previous year EUR 0) of intangible assets yet to be included on the
balance sheet pursuant to IFRS 3.
The equity and the liquidity situation of mwb fairtrade
Wertpapierhandelsbank AG changed only slightly as compared to the close of
2008, and thereby continued to be very satisfactory. Equity dropped to EUR
28,169 thousand as compared to EUR 29,252 thousand on December 31, 2008.
Liquidity, as the balance of receivables from and liabilities to banks,
stood at EUR 12,264 thousand as at March 31, 2009 as compared to EUR 14,758
thousand on December 31, 2008.
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
22.04.2009 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
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