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Baader Bank nine-month consolidated net income for 2020

DGAP-News: Baader Bank AG / Key word(s): 9 Month figures
29.10.2020 / 08:00
The issuer is solely responsible for the content of this announcement.

Press release:

Baader Bank nine-month consolidated net income for 2020

After the first nine months of 2020, Baader Bank's earnings before taxes stand at EUR 38.1 million. Operating result has in-creased to EUR 66.2 million and earnings per share is EUR 0.67.

Total assets as at 30/09/2020 are up 21.7% to EUR 751.2 million. As at the balance sheet date, Baader Bank has balance sheet equity of EUR 104.9 million. The balance sheet equity ratio is 14.0%, and the modified equity ratio is 17.5%.

Growth in trading volumes and the commission business in the first nine months of 2020 has driven consolidated earnings of EUR 155.7 million, which is double the volume achieved in the previous year. Revenues from the wind farm total EUR 9.0 million. Net interest income is negative, due primarily to the low interest rate environment.

Total expenses in the first nine months of 2020 have increased by a disproportionately low figure of just over 50%, to EUR 117.6 million. Personnel expenses have increased by almost 40% to EUR 48.7 million due to variable remuneration components within the Group. Other administrative expenses remained pleasingly stable at EUR 32.2 million despite the high volume of business. This reflects strict cost discipline and very good economies of scale in processes.

The result for the first nine months includes the transfer of EUR 15.0 million1 to the fund for general banking risks and provisions and other non-regular depreciation/amortisation and write-downs of EUR 13.2 million as risk provision.

As of 30/09/2020, the Group had 414 employees (30/09/2019: 403).

Outlook

Continuing to successfully grow our existing client business - as well as optimising and strengthening our trading business - is of central strategic importance to Baader Bank. The successes achieved in the current financial year show that Baader Bank, with its integrated business model and a focus on its traditional core markets as well as the platform strategy for fintech growth markets, has a solid foundation for future earnings and profit growth.

Looking ahead to the overall result for 2020, the Board of Directors expects increased volatility and above-average trading volumes to remain key features, triggered by the considerable uncertainty that surrounds both global efforts to quell the pan-demic and the upcoming US elections. As such, it is not feasible to extrapolate earnings developments in the first nine months of 2020 to the entire 2020 financial year for Baader Bank. The Board of Directors is sticking to its forecast for the 2020 financial year and also expects to be able to pay a dividend to shareholders for the current financial year2.

Overview of key figures3

BAADER BANK GROUP
Income Statement		 01/01-30/09/2020 01/01-30/09/2019 Delta
  EUR'000 EUR'000 %
Income 155,674 74,697 >100.0
of which net interest income and current income -2,190 -294 >-100.0
of which net commission income 26,728 25,172 6.2
of which net trading income 119,758 34,623 >100.0
of which revenue 8,954 9,694 -7.6
of which other income 2,380 5,450 -56.3
of which net income from interests in associates 44 52 -15.4
Expenses -117,611 -76,642 53.5
of which personnel expenses -48,721 -34,930 39.5
of which administrative expenses and other operating expenses -34,542 -33,213 4.0
of which amortisation and depreciation on intangible assets and property, plant and equipment -6,151 -6,614 -7.0
Other amortisation and depreciation/Risk provision -13,197 -1,885 >100.0
of which write-downs/write-ups of loans and advances and certain securities as well as additions to provisions in lending business -13,197 0 100.0
of which write-downs/write-ups of equity investments, interests in associates and securities treated as assets 0 -1,885 -100.0
Additions to the fund for general banking risks -15,000 0 100.0
       
Earnings before taxes (EBT) 38,063 -1,945 -
       
Operating result4 66,178 -4,000 -
       
Total Assets 751,160 617,376 21.7
Balance Sheet Equity Ratio 14.0% 12.1%  
 
1: The transfer to the fund for general banking risks also takes into account the statutory transfer to the fund for general banking risks in accordance with Section 340e HGB.
2: Dividend planning subject to appropriate approvals from committees and bodies and applicable supervisory/other legal provisions.
3: Financial figures of the Baader Bank Group; all figures provisional and unaudited; reported in accordance with the provisions of the German Commercial Code (Handelsgesetzbuch - HGB).
4: Gross profit (= net interest income + current income + net commission income and trading income + revenues) less personnel expenses and other administrative expenses as well as amortisation/depreciation on intangible assets and property, plant and equipment.
 

Further information is available from:

Baader Bank AG
Weihenstephaner Strasse 4
85716 Unterschleissheim, Germany

Florian E. Schopf
Company Spokesperson
Managing Director
Head of Group Strategy & Communication

T +49 89 5150 1013
M +49 160 718 88 26
florian.schopf@baaderbank.de

About Baader Bank AG:

Baader Bank is the bank for the capital market. It allows its clients to access international capital markets and to invest in financial products in an effective, efficient and secure manner. The bank uses the latest innovations in the banking industry for products, processes and technology to generate added value for its clients. As a family-run, full-service bank with its headquarters in Unterschleissheim near Munich with around 400 employees, it is active in the business lines of Market Making, Capital Markets, Multi Asset Brokerage, Asset Management Services, Banking Services and Research.

Further information can also be found online:

Company website: www.baaderbank.de
Twitter: https://twitter.com/Baader_Bank
LinkedIn: https://www.linkedin.com/company/98924/
Xing: https://www.xing.com/companies/baaderbankag?sc_o=da980_e
YouTube: https://www.youtube.com/channel/UCDJ7PGKWwtafrPSFDI3nmsQ


29.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: Baader Bank AG
Weihenstephaner Str. 4
85716 Unterschleissheim
Germany
Phone: +49 89 5150 1013
Fax: +49 89 5150 1111
E-mail: communications@baaderbank.de
Internet: www.baaderbank.de
ISIN: DE0005088108
WKN: 508810
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich (m:access), Stuttgart, Tradegate Exchange
EQS News ID: 1143846

 
End of News DGAP News Service

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Financial reports

2024
10/25/2024 Separate combined non-financial report 2023 EN
07/25/2024 Semi-Annual Report 2024 EN
05/23/2024 Annual Report of Baader Bank Group 2023 EN
2023
07/27/2023 Semi-Annual Report 2023 EN
05/31/2023 Annual Report of Baader Bank Group 2022 EN
2022
07/28/2022 Semi-Annual Report 2022 EN
06/13/2022 Annual Report of Baader Bank Group 2021 EN