DGAP-News

Baader Bank on growth path - Seite 3

Overall, Baader Bank Group generated earnings before tax (EBT) of EUR 56.0 million in the 2020 financial year (previous year: EUR 68,000) and reported significantly higher consolidated earnings after tax of EUR 46.5 million (previous year: EUR -591,000).

Strong capitalisation ratios, stable number of employees

The balance sheet total amounted to EUR 888.6 million on the reporting date of 31 December 2020 (previous year: EUR 617.4 million). The balance sheet equity ratio was 14% (previous year: 12%) and the modified equity ratio is 17% (previous year: 14%).

As at 31 December 2020, the number of employees in the Baader Bank Group rose to 420, compared to 403 as at 31 December 2019.

2021 outlook

In the first months of the new financial year, it is expected that the high level of activity of trading participants in the international capital and financial markets will continue, and a further strong increase in demand for account and custody account services at Baader Bank is also expected. The general conditions for Baader Bank therefore remain positive. It is also expected that further effects of the implemented and partially ongoing restructuring and organisational measures will underpin a corresponding sustainable development in 2021 and beyond.

If these general conditions continue throughout the coming year, the Baader Bank Board of Directors expects that the Baader Bank Group's EBT for the 2021 financial year will exceed the 2020 result of EUR 56.0 million.

Given the uncertain, exogenous influencing factors, the Board of Directors is of the opinion that reliable forecasts for the business development can only be made with reservations. For this reason, the statements, expectations and forecasts on the future development of Baader Bank are based on the information and knowledge available to the company at the time of publication.

Subject to the approval of the Annual General Meeting, the Baader Bank Board of Directors still intends to pay a dividend of EUR 0.25 per share for the 2020 financial year. The shareholders' meeting is expected to take place on 1 July 2021 in a virtual format. Baader Bank's annual report for 2020 will be made available in the "Financial Reports" section of the Company's website in mid-May 2021 when the annual shareholders' meeting is convened.