EANS-News: C-QUADRAT Investment AG
Consolidated Net Income 1-9/2011 of
C-QUADRAT Investment AG
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- quarterly report Vienna / Frankfurt (euro adhoc) - Positive result despite difficult outline conditions Net profit for the period amounts to EUR 2.5 million Strong increase in management fees from EUR 25.1 million to EUR 34.0 million Personnel expenses reduced from EUR 6.3 million to EUR 5.6 million In the interim period 1-9/2011 C-QUADRAT Investment AG (ISIN AT0000613005) realized a consolidated net profit of EUR 2.5 million despite facing tougher outline conditions on the capital markets.As in previous quarters in 2011, a particularly positive trend was the strong increase in management fees (35 %), from EUR 25.1 million to EUR 34.0 million.The management fees are the fees charged for the continuous management of investment funds.They represent the basis of an asset manager´s revenue structure and are the most important indicator for the long-term earnings power of the Company. As well as the higher average assets under management, this strong rise in management fees is due to a pronounced improvement in margins through the replacement of institutional assets with retail assets.The significantly higher management fees in the 2011 financial year to date represent a crucial improvement in the Company´s long-term earnings power. In the half year report for the current financial year, C-QUADRAT previously indicated that the amount of the performance fees may be subject to significant fluctuations, which are also dependent on current stock market events.The weak and volatile stockmarket environment in 2011 due to Fukushima, the Eurozone´s debt crisis and the unprecedented influence of political decisions on stock-market events resulted in a decrease in performance fees to EUR 0.3 million in the interim period 1-9/2011 (1-9/2010: EUR 10.3 million).C-QUADRAT earns these fees when the investment funds under its management achieve a positive performance beyond a high watermark.Accordingly, performance fees fluctuate strongly from one reporting period to another. Personnel expenses have decreased from EUR 6.3 million to EUR 5.6 million in the interim period 1-9/2011.Other administrative expenses have increased from EUR 3.6 million to EUR 3.8 million. The consolidated net profit for the period amounts to EUR 2.5 million (2010: EUR 9.3 million). C-QUADRAT founder and management board member Alexander Schütz comments:"We have realized a positive result for the period despite extremely difficult outline conditions.The increase in recurring revenues in the form of management fees is particularly pleasing.Our result in the previous year would have been significantly worse without the performance fees.This year we have achieved a positive result even in the absence of performance fees since we have a higher volume of assets under management and an improved margin structure.By the end of the year we expect to acquire several major management mandates." With immediate effect, the interim report 1-9/2011 of C-QUADRAT Investment AG is available for downloading at www.c-quadrat.at in the Investor Relations area. Further inquiry note: Mag. Andreas Wimmer Member of the Board C-QUADRAT Investment AG 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 -------------------------------------------------------------------------------- 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
Original content of: C-QUADRAT Investment AG, transmitted by news aktuell