EANS-News: C-QUADRAT Investment AG 2012 Net Income for the year of C-QUADRAT
Investment AG
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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annual result
Vienna / Frankfurt (euro adhoc) - - C-QUADRAT Investment AG (standalone
financial statements acc. Austrian Commercial Code) realizes balance sheet
profit of EUR 4.6 million in 2012 (previous year: EUR 4.7 million)
- C-QUADRAT Group achieves net profit of EUR 0.2 million in 2012 (2011: EUR 3.0
million)
Total Group revenue stable at EUR 46.1 million (2011: EUR 46.0 million)
- Personnel expenses in Group decreased from EUR 6.6 million to EUR 6.1 million
- One-off incidental costs for acquisitions and valuation adjustment of EUR 3.4
million reduce consolidated earnings
- Dividend proposal for shareholders' meeting: EUR 0.6 per share (previous year:
EUR 1.0 per share)
In 2012 C-QUADRAT Investment AG (ISIN AT0000613005) maintained stable overall
Group revenue at EUR 46.1 million, while reducing its personnel costs by 7% to
EUR 6.1 million.
Its acquisitions of Absolute Portfolio Management GmbH (APM), Vienna, and the
BCM Group (London, Geneva) in 2012 gave rise to one-off incidental acquisition
costs of EUR 1.4 million. In addition, in the past financial year a valuation
adjustment of EUR 2.0 million was recognized on an investment sale which was
transacted in 2010. These two one-off items in particular generated an increase
in the Group's other expenses to EUR 9.3 million (previous year: EUR 5.3
million). The Group's associates provided earnings of EUR 2.4 million, a slight
decrease on the previous year (2011: EUR 2.5 million).
C-QUADRAT Investment AG realized a balance sheet profit in 2012 (standalone
financial statements acc. Austrian Commercial Code) of EUR 4.6 million (previous
year: EUR 4.7 million). The C-QUADRAT Group achieved a net profit in 2012 of EUR
0.2 million (2011: EUR 3.0 million).
Following the approval of the annual financial statements of C-QUADRAT
Investment AG and the consolidated financial statements as of December 31, 2012,
the Supervisory and Management Boards of the C-QUADRAT Group have resolved to
propose to the shareholders' meeting to be held on May 3, 2013 the distribution
of a dividend of EUR 0.6 per share (previous year: EUR 1.0 per share) on the
balance sheet profit for the financial year 2012.
C-QUADRAT founder and management board member Alexander Schütz comments: "We
exploited 2012 - which was a difficult environment for asset managers - to make
2 acquisitions and have strongly invested in the company's growth. These two
acquisitions have helped us to increase our assets under management from EUR 2.9
billion to EUR 4.3 billion (+46%), to develop the company's internationalization
and to diversify its product range. C-QUADRAT products are today marketed in 17
European countries and are among the best products in their classes, both for
private and institutional investors. However, in this regard it should also be
pointed out that the one-off incidental acquisition costs of these two
acquisitions have reduced the Group's net income in the past financial year (in
accordance with IFRS standards) but almost all of the earnings contributed by
APM and BCM will only be recognized in the income statement from the financial
year 2013 onwards. We have adjusted the consolidated balance sheet for the
write-off recognized on an investment sale receivable. Following a very positive
start we are thus entering 2013 free from historical burdens and are very well
placed in the new year."
With immediate effect, the 2012 consolidated financial statements and the
standalone financial statements 2012 of C-QUADRAT Investment AG are available in
German for downloading at www.c-quadrat.at in the Investor Relations area.
English versions will follow soon.
Further inquiry note:
Mag. Andreas Wimmer
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