EANS-News: C-QUADRAT Investment AG
Consolidated Net Profit for the year 2011
of C-QUADRAT Investment AG
23.03.2012 – 17:09
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- annual result Vienna / Frankfurt (euro adhoc) - Strong increase in management fees (25%) from EUR 35.8 million to EUR 44.7 million Personnel expenses reduced from EUR 8.4 million to EUR 6.6 million Net profit for the year amounts to EUR 3.0 million In 2011 C-QUADRAT Investment AG (ISIN AT0000613005) realized a net profit of EUR 3.0 million. The strong increase in management fees, from EUR 35.8 million to EUR 44.7 million (25%), is particularly notable. 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. This strong increase in management fees is due to the average level of growth of assets under management over the year and the replacement of institutional assets with retail assets offering higher margins. The significantly higher management fees in 2011 represent a crucial improvement in the Company´s long-term earnings power. Personnel expenses dropped from EUR 8.4 million to EUR 6.6 million in 2011. Other operating expenses were at EUR 4.5 million slightly lower than in the previous year (EUR 4.6 million). The net profit for the year under review is EUR 3.0 million. C-QUADRAT founder and management board member Alexander Schütz comments: "2011 was a particularly difficult year for all asset managers. For the first time in many years, it was not possible to achieve any performance fees in the negative stock market environment. This is naturally reflected in the net profit for the year. However, at the same time we have succeeded in cutting our costs and - even more importantly - we have increased our management fees by 25%. We are thus now very well positioned. Successful asset managers can realize extremely strong results in good stock market environments. But it´s more important to achieve good results in a challenging stock market environment as well. We have managed this in 2011 and, following a positive start to the year, we have an optimistic view of 2012." The consolidated financial statements and the standalone financial statements 2011 of C-QUADRAT Investment AG can be downloaded in German immediately from the Investor Relations area on the website www.c-quadrat.at. English versions will follow soon. Further inquiry note: Mag. Andreas Wimmer Member of the Board Stubenring 2 A-1010 Wien 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
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