EANS-News: C-QUADRAT Investment AG / Consolidated Net Income 1-9/2012 of
C-QUADRAT Investment AG
Geschrieben am 05-11-2012 |
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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9-month report
Vienna/Frankfurt (euro adhoc) - - Positive result despite continuing
uncertain market environment and negative one-off factors
- EUR 0.6 million net profit for the period
- Clear reduction in commission and personnel expenses
- One-off transaction costs from acquisition of APM and BCM: EUR 1.1
million
- Assets under management increase to more than EUR 4 billion through
acquisitions
- EUR 1.3 million valuation adjustment on receivable from the sale of
an investment
In the interim period 1-9/2012 C-QUADRAT Investment AG (ISIN
AT0000613005) realized a consolidated net profit of EUR 0.6 million
despite the continuing uncertain environment on the capital markets.
Total revenues in the interim period 1-9/2012 amounted to EUR 32.8
million. In terms of costs, commission and personnel expenses were
significantly reduced in relation to the same period in the previous
year. The acquisition of the two asset managers APM and BCM resulted
in one-off transaction costs of approx. EUR 1.1 million in Q3 which
the Group is required to report as administrative expenses pursuant
to IFRS, unlike in the case of single-entity financial statements
under the Austrian Commercial Code. The company has not yet completed
its acquisition of its interest in BCM, which still requires approval
from the UK Financial Services Authority (FSA).
The company's assets under management have increased to more than EUR
4 billion through these transactions. In addition, a receivable from
the sale of an investment has undergone a valuation adjustment of EUR
1.3 million in the interim period.
C-QUADRAT founder and management board member Alexander Schütz
comments: "The one-off costs of approx. EUR 1.1 million resulting
from the acquisition of the two asset managers APM and BCM and the
unexpected valuation adjustment recognized on a receivable have had a
negative impact on earnings in the 3rd quarter. Adjusted for these
transaction and valuation adjustment expenses, the net profit for Q3
is 30 % higher than for Q2. We are consistently following through on
our ongoing cost reduction measures, and the assets which we have
acquired through these takeovers will generate a lasting improvement
in the company's profitability."
With immediate effect, the interim report 1-9/2012 of C-QUADRAT
Investment AG is available for downloading at www.c-quadrat.at in the
Investor Relations area.
Further inquiry note:
Andreas Wimmer
Stubenring 2
A-1010 Vienna
Tel.: +43 1 515 66 316
Mail: a.wimmer@investmentfonds.at
www.c-quadrat.com
end of announcement euro adhoc
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company: C-QUADRAT Investment AG
Stubenring 2
A-1010 Wien
phone: +43 1 515 66-0
FAX: +43 1 515 66-159
mail: c-quadrat@investmentfonds.at
WWW: www.c-quadrat.at
sector: Financial & Business Services
ISIN: AT0000613005
indexes: Standard Market Auction
stockmarkets: official market: Frankfurt, Wien
language: English
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