25.04.2018
DF Deutsche Forfait AG DE000A2AA204
DGAP-News: DF Deutsche Forfait AG publishes consolidated financial statements for the financial year 2017
DGAP-News: DF Deutsche Forfait AG / Key word(s): Final Results/Miscellaneous
DF Deutsche Forfait AG publishes consolidated financial statements for the
financial year 2017
25.04.2018 / 15:35
The issuer is solely responsible for the content of this announcement.
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DF Deutsche Forfait AG publishes consolidated financial statements for the
financial year 2017
* Business volume remains below expectations at EUR 23.5 million
* Shifts in large-scale brokerage transactions
* Consolidated net loss of EUR 2.7 million
Cologne, 25 April 2018 - DF Deutsche Forfait AG (ISIN share: DE000A2AA204,
ISIN bond: DE000A1R1CC4) today published the consolidated financial
statements for the financial year 2017.
DF Group's business volume amounted to EUR 23.5 million in the reporting
period, compared to EUR 5.4 million in the previous year, which comprised
the two short financial years 2016 I and II. In the financial year 2017, the
business volume was composed of EUR 6.4 million from forfaiting
transactions, EUR 16.7 million from debt collection and EUR 0.4 million from
purchase commitments. While the business volume exceeded the previous year,
it fell short of the company's original expectations. This was due to a
lower-than-expected trading volume with the main target market, Iran, time
shifts in large-scale brokerage transactions and the restructuring of the
sales organization.
The consolidated gross result improved to EUR -1.4 million, up from EUR -8.9
million in the previous year. It was mainly influenced by the changes in
creditor assets, which are used to satisfy the old creditors under the 2016
insolvency plan. At EUR 6.1 million, administrative expenses were down by
47% on the prior year period (EUR 11.5 million), which had been influenced
by the high costs of the insolvency proceedings. The consolidated net loss
amounted to EUR 2.7 million. In the previous year, the company had posted
consolidated net income of EUR 31.4 million, which, however, mainly
reflected the creditors' debt waiver in the context of the insolvency
proceedings. As of the balance sheet date of 31 December 2017, the Group's
equity capital totaled EUR 7.3 million (31 December 2016: EUR 9.9 million).
The company is cautiously optimistic about the full year 2018. The expansion
of the local presence and the network in the Near and Middle Eastern target
market has led to a large number of business inquiries. The company assumes
that these initiations and the closing of several large-scale brokerage
transactions will result in a substantial business volume in the full year
2018. Against this background, the Group targets a business volume of
between EUR 400 million and EUR 500 million, depending on market
opportunities, as well as a balanced result.
The 2017 Annual Report of DF Deutsche Forfait AG is available in the
Investor Relations section of the company's website.
About DF Deutsche Forfait Group
DF Group specializes in foreign trade finance and related services for
exporters, importers and other financial service providers, with a focus on
emerging markets. Within this market segment, the main focus is on financing
foreign trade with Near and Middle East countries.
Contact:
DF Deutsche Forfait AG
Hirtenweg 14
82031 Grünwald
T +49 89 21551900-0
F +49 89 21551900-9
E [email protected]
http://www.dfag.de
Investor Relations / Press:
Frederic Hilke
IR.on AG
T +49 221 9140970
E [email protected]
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25.04.2018 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
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Language: English
Company: DF Deutsche Forfait AG
Hirtenweg 14
82031 Grünwald
Germany
Phone: +49 89 21551900-0
Fax: +49 89 21551900-9
E-mail: [email protected]
Internet: www.dfag.de
ISIN: DE000A2AA204, DE000A1R1CC4,
WKN: A2AA20, A1R1CC
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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679113 25.04.2018
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