DGAP-News
DF Deutsche Forfait AG publishes figures for Q1 2015
DGAP-News: DF Deutsche Forfait AG / Key word(s): Quarter Results
DF Deutsche Forfait AG publishes figures for Q1 2015
22.05.2015 / 17:58
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DF Deutsche Forfait AG publishes figures for Q1 2015
- Consolidated net loss much lower than in previous year: EUR -1.9
million, compared to EUR -2.7 million
- First quarter characterized by implementation of the restructuring
concept
- Negative Group equity of EUR -7.3 million as of 31 March
- High amount of cash and cash equivalents as of 31 March 2015
Cologne, 22 May 2015 -DF Deutsche Forfait AG (Prime Standard, ISIN:
DE0005488795) posted a much lower consolidated net loss of EUR -1.9 million
in the first quarter of 2015 (previous year: EUR -2.7 million). This is
equivalent to earnings per share of EUR -0.28 (previous year: EUR -0.40).
The loss is attributable to the restrictions to new business resulting from
the still limited capital resources, the human resources tied up because of
the implementation of the restructuring concept and high legal and
consulting expenses.
The business volume amounted to EUR 25.2 million in the first quarter of
2015 (prior year quarter: EUR 27.5 million). Both figures do not reflect
the normal course of business of DF Group. In the previous year, the first
quarter was influenced by the entry of DF Deutsche Forfait AG to the US
sanctions list. In the current reporting period, the company felt the
above-mentioned restrictions resulting from its ongoing financial and
operational restructuring and the related restrictions on the refinancing
side as well as the tie-up of human resources. At the operating level, DF
Group felt the consequences of the fact that - in contrast to Q1 2014,
which followed normal business activity in Q4 2013 - it did not have a
larger portfolio of transactions at an advanced project stage. As DF Group
was able to resume business only in the fourth quarter of 2014, the number
of initiated or advanced projects was relatively low. "The longer we are
back in the market and the more our deal flow normalizes, the less our
business and our earnings will be influenced by such circumstances," said
Marina Attawar, member of the Board of Management of DF Deutsche Forfait
AG.
The Group's gross result including financial results declined from EUR 0.1
million to EUR -0.6 million in the first quarter of 2015. Administrative
expenses decreased from EUR 2.9 million to EUR 2.4 million primarily
DF Deutsche Forfait AG publishes figures for Q1 2015
- Consolidated net loss much lower than in previous year: EUR -1.9
million, compared to EUR -2.7 million
- First quarter characterized by implementation of the restructuring
concept
- Negative Group equity of EUR -7.3 million as of 31 March
- High amount of cash and cash equivalents as of 31 March 2015
Cologne, 22 May 2015 -DF Deutsche Forfait AG (Prime Standard, ISIN:
DE0005488795) posted a much lower consolidated net loss of EUR -1.9 million
in the first quarter of 2015 (previous year: EUR -2.7 million). This is
equivalent to earnings per share of EUR -0.28 (previous year: EUR -0.40).
The loss is attributable to the restrictions to new business resulting from
the still limited capital resources, the human resources tied up because of
the implementation of the restructuring concept and high legal and
consulting expenses.
The business volume amounted to EUR 25.2 million in the first quarter of
2015 (prior year quarter: EUR 27.5 million). Both figures do not reflect
the normal course of business of DF Group. In the previous year, the first
quarter was influenced by the entry of DF Deutsche Forfait AG to the US
sanctions list. In the current reporting period, the company felt the
above-mentioned restrictions resulting from its ongoing financial and
operational restructuring and the related restrictions on the refinancing
side as well as the tie-up of human resources. At the operating level, DF
Group felt the consequences of the fact that - in contrast to Q1 2014,
which followed normal business activity in Q4 2013 - it did not have a
larger portfolio of transactions at an advanced project stage. As DF Group
was able to resume business only in the fourth quarter of 2014, the number
of initiated or advanced projects was relatively low. "The longer we are
back in the market and the more our deal flow normalizes, the less our
business and our earnings will be influenced by such circumstances," said
Marina Attawar, member of the Board of Management of DF Deutsche Forfait
AG.
The Group's gross result including financial results declined from EUR 0.1
million to EUR -0.6 million in the first quarter of 2015. Administrative
expenses decreased from EUR 2.9 million to EUR 2.4 million primarily