EANS-News: C-QUADRAT Investment AG Consolidated Net Income 1-9/2011 of
C-QUADRAT Investment AG
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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quarterly report
Vienna / Frankfurt (euro adhoc) - Positive result despite difficult outline
conditions
Net profit for the period amounts to EUR 2.5 million
Strong increase in management fees from EUR 25.1 million to EUR 34.0 million
Personnel expenses reduced from EUR 6.3 million to EUR 5.6 million
In the interim period 1-9/2011 C-QUADRAT Investment AG (ISIN AT0000613005)
realized a consolidated net profit of EUR 2.5 million despite facing tougher
outline conditions on the capital markets.As in previous quarters in 2011, a
particularly positive trend was the strong increase in management fees (35 %),
from EUR 25.1 million to EUR 34.0 million.The management fees are the fees
charged for the continuous management of investment funds.They represent the
basis of an asset manager´s revenue structure and are the most important
indicator for the long-term earnings power of the Company.
As well as the higher average assets under management, this strong rise in
management fees is due to a pronounced improvement in margins through the
replacement of institutional assets with retail assets.The significantly higher
management fees in the 2011 financial year to date represent a crucial
improvement in the Company´s long-term earnings power.
In the half year report for the current financial year, C-QUADRAT previously
indicated that the amount of the performance fees may be subject to significant
fluctuations, which are also dependent on current stock market events.The weak
and volatile stockmarket environment in 2011 due to Fukushima, the Eurozone´s
debt crisis and the unprecedented influence of political decisions on
stock-market events resulted in a decrease in performance fees to EUR 0.3
million in the interim period 1-9/2011 (1-9/2010: EUR 10.3 million).C-QUADRAT
earns these fees when the investment funds under its management achieve a
positive performance beyond a high watermark.Accordingly, performance fees
fluctuate strongly from one reporting period to another.
Personnel expenses have decreased from EUR 6.3 million to EUR 5.6 million in the
interim period 1-9/2011.Other administrative expenses have increased from EUR
3.6 million to EUR 3.8 million. The consolidated net profit for the period
amounts to EUR 2.5 million (2010: EUR 9.3 million).
C-QUADRAT founder and management board member Alexander Schütz comments:"We have
realized a positive result for the period despite extremely difficult outline
conditions.The increase in recurring revenues in the form of management fees is
particularly pleasing.Our result in the previous year would have been
significantly worse without the performance fees.This year we have achieved a
positive result even in the absence of performance fees since we have a higher
volume of assets under management and an improved margin structure.By the end of
the year we expect to acquire several major management mandates."
With immediate effect, the interim report 1-9/2011 of C-QUADRAT Investment AG is
available for downloading at www.c-quadrat.at in the Investor Relations area.
Further inquiry note:
Mag. Andreas Wimmer
Member of the Board
C-QUADRAT Investment AG
Stubenring 2
A-1010 Vienna
Tel.: +43 1 515 66 316
Mail: a.wimmer@investmentfonds.atwww.c-quadrat.com
end of announcement euro adhoc
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company: C-QUADRAT Investment AG
Stubenring 2
A-1010 Wien
phone: +43 1 515 66-0
FAX: +43 1 515 66-159
mail: c-quadrat@investmentfonds.at
WWW: www.c-quadrat.at
sector: Financial & Business Services
ISIN: AT0000613005
indexes: Standard Market Auction
stockmarkets: official market: Frankfurt, Wien
language: English