DGAP-News FinLab AG: FinLab AG announces figures as of 30/06/2020; Positive results according to IFRS and HGB; Increase in net asset value (NAV)
DGAP-News: FinLab AG / Key word(s): Half Year Results
Frankfurt am Main, 24/09/2020 - FinLab AG (ISIN: DE0001218063, WKN: 121806, Ticker: A7A.GR) announces its half year results as of 30/06/2020.
In the first half of 2020, FinLab achieved earnings before taxes (EBT) according to IFRS of EUR 2.9 million (H1 2019: EUR 4.7 million). This is mainly due to the positive financial result of EUR 2.4 million (H1 2019: EUR 3.5 million) and a reduction in personnel expenses by EUR 0.4 million compared to the first half of 2019.
The positive share price performance at listed company Heliad Equity Partners GmbH & Co. KGaA ("Heliad") (reporting date price as of 30.06.2020: EUR 6.65 per share) enabled the revaluation
reserve to be increased by EUR 11.1 million, thus raising total earnings pursuant to IFRS to EUR 13.7 million in the first half of 2020 (H1 2019: EUR -0.6 million).
As a result, the NAV of FinLab also increased by almost 10% to EUR 29.70 / share as of 30 June 2020 (31 December 2019: EUR 27.12 / share) in the first half of the financial year. With equity of EUR 156.5 million (31.12.2019: EUR 142.8 million) and an equity ratio of 98%, FinLab AG continues to show a solid balance sheet.
Also, according to the German accounting standard HGB, FinLab AG achieved a positive result for the period under review with EUR 0.4 million (previous year EUR 1.7 million).
The effects of the corona crisis on the portfolio cannot yet be conclusively assessed. So far, positive effects have been observed thanks to the digital business models of FinLab's investments,
which particularly affect the portfolio companies in the brokerage and wealth management areas. However, it cannot be ruled out that renewed restrictions in everyday life and the economy generally
as a result of the corona crisis could have a negative impact on select portfolio companies.
About FinLab AG:
Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A) is one of the first and largest investors focused on the Financial Services Technologies ("FinTech") and blockchain sector in Europe. FinLab focus in this context is providing venture capital for start-ups. FinLab's aim is a long-term participation and ongoing support of its investments. FinLab in this regard supports its investments in their respective development phase with their network and know-how. In addition, FinLab acts as an asset manager and manages assets in the three-digit million-dollar range.
Phone: +49 69 719 12 80 0
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|Phone:||+49 (0)69 719 12 80 - 0|
|Fax:||+49 (0)69 719 12 80 - 011|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange|
|EQS News ID:||1135889|
|End of News||DGAP News Service|
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