22.08.2018
DF Deutsche Forfait AG DE000A2AA204
DGAP-News: DF Deutsche Forfait AG publishes preliminary figures for the first six months of 2018
DGAP-News: DF Deutsche Forfait AG / Key word(s): Half Year
Results/Preliminary Results
DF Deutsche Forfait AG publishes preliminary figures for the first six
months of 2018
22.08.2018 / 17:00
The issuer is solely responsible for the content of this announcement.
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DF Deutsche Forfait AG publishes preliminary figures for the first six
months of 2018
* Business volume rises to EUR 30.5 million
* USA's withdrawal from the international nuclear deal has adverse effect
on DF Group's performance
* Adjusted corporate strategy shows initial success
Gruenwald, 22 August 2018 - DF Deutsche Forfait AG (ISIN share:
DE000A2AA204, ISIN bond: DE000A1R1CC4) herewith publishes the preliminary
figures for the first half of 2018.
According to preliminary figures, DF Group posted a consolidated net loss of
EUR -1.4 million for the first six months of 2018 (H1 2017: EUR -1.2
million). By contrast, the business volume rose noticeably to EUR 30.5
million in the reporting period (H1 2017: EUR 1.2 million) but still
remained clearly below the management's original target. This was primarily
attributable to the USA's withdrawal from the international nuclear deal
with Iran, which was announced in early May 2018. As a consequence, major
business leads, e.g. in arranging financings for large-scale infrastructure
projects, could not be realized. In spite of these more difficult
conditions, DF Group was able, however, to double its business volume from
EUR 9.8 million in Q1 2018 to EUR 20.7 million in Q2 2018.
Based on preliminary figures, the consolidated gross result amounted to EUR
0.5 million in the first half of 2018 (H1 2017: EUR 1.0 million).
Administrative expenses, which comprise personnel costs,
depreciation/amortization and other operating expenses, totaled EUR 2.7
million in the first six months, which was more or less on a par with the
previous year (H1 2017: EUR 2.8 million).
As of the balance sheet date on 30 June 2018, DF Group's equity capital was
positive at EUR 5.8 million, compared to EUR 7.3 million on 31 December
2017. The decline compared to the end of 2017 is attributable to the
consolidated net loss incurred in the first half of 2018. Creditor assets
declined slightly from EUR 9.2 million on 31 December 2017 to EUR 9.0
million. Cash and cash equivalents amounted to approx. EUR 4.4 million as of
the balance sheet date (31 December 2017: EUR 6.1 million).
The USA's withdrawal from the nuclear deal and the resulting restrictions
for business with Iran have prompted DF Group to adjust its strategy. Based
on the analyses of the consequences of the US sanctions, the Group's Iran
business was reoriented towards the food and pharmaceutical sectors, which
are largely excluded from the sanctions. The management believes that the
increased business inquiries received over the past weeks confirm the view
that the attractive niches identified by DF Group represent a viable
business model for the future. In view of the time-consuming reorientation,
DF Group nevertheless projects a consolidated net loss for the fiscal year
2018.
The interim consolidated financial statements for the first six months of
2018 of DF Deutsche
Forfait AG will be available at https://www.dfag.de/en/publications/ by 31
August 2018.
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 Gruenwald
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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22.08.2018 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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716583 22.08.2018
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