09.11.2016
DF Deutsche Forfait AG DE000A2AA204
DGAP-News: DF Deutsche Forfait AG publishes consolidated financial statements for the 2016 short financial year
DGAP-News: DF Deutsche Forfait AG / Key word(s): Final Results/Results
Forecast
DF Deutsche Forfait AG publishes consolidated financial statements for the
2016 short financial year
09.11.2016 / 19:35
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
2016 short financial year
Group figures for the period from 1 January to 1 July 2016 (termination
of the insolvency proceedings)
Cologne, 9 November 2016 - DF Deutsche Forfait AG (Prime Standard, ISIN:
DE000A2AA204) publishes the Annual Report for the short financial year from
1 January to 1 July 2016 ("2016 short financial year"). The balance sheet
date is the day on which the company's insolvency proceedings were
terminated.
DF Group generated consolidated net profit of EUR 34.2 million in the 2016
short financial year (H1 2015: EUR -5.3 million). The consolidated net
profit is essentially the result of the restructuring profit resulting from
the resolved creditors' partial waiver stated in the published insolvency
plan. This restructuring profit was reduced by the costs and operating
losses incurred in the short financial year.
As had been expected DF Group's business volume amounted to only EUR 3.4
million in the short financial year (H1 2015: EUR 37.3 million), as the
company's operations were almost entirely suspended during the insolvency
proceedings. The consolidated gross result before financial results
amounted to approx. EUR -2.0 million (H1 2015: EUR 0.2 million). At approx.
EUR 7.2 million, administrative expenses exceeded the prior year period's
EUR 5.5 million, due, among other things, to the costs of the insolvency
proceedings (EUR 3.1 million). As at the balance sheet date of 1 July 2016,
DF Group posted positive equity capital of EUR 12.7 million (31 December
2015: EUR -32.1 million). This means that the company's capital base is
sufficient to restart its operating business. The "creditor liabilities"
stated in the Group's balance sheet will be settled exclusively from the
liquidation of the assets that existed at the time the insolvency plan was
adopted.
The Annual Report (German version) for the short financial year from 1
January to 1 July 2016 of DF Deutsche Forfait AG is available in the
Investor Relations section of the company's website. The English version
will be available shortly.
About DF Group
The main business activities of DF Group are the purchase and sale of
selected export receivables in emerging markets on a non-recourse basis.
The objective is to sell the acquired receivables at the same time or in
the short term. Forfaiting is an increasingly important tool in export
financing, with volumes rising in line with the continuing advance of
globalization. Creating tradable products from receivables benefits both
exporters and buyers. As well as transferring risk to the buyer, the main
benefit of forfaiting for exporters is the inflow of cash. This relieves
the exporters' credit lines and improves their balance sheet structure. DF
Deutsche Forfait AG structures receivables attractively, so that investors
seek them as a type of investment.
DF Deutsche Forfait AG
Investor Relations
Karolin Bistrovic
Kattenbug 18 - 24
50667 Köln
T +49 221 97376-61
F +49 221 97376-60
E [email protected]
http://www.dfag.de
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09.11.2016 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.
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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 (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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