EANS-News: C-QUADRAT Investment AG
Consolidated Net Income 1-9/2012 of
C-QUADRAT Investment AG
05.11.2012 – 09:03
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 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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