EANS-News: Consolidated earnings 1-3/2016 of C-QUADRAT Investment AG
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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3-month report
o Assets under management: EUR 5.3 billion
o Total revenues: EUR 10 million
o Net profit for the period: EUR 0.5 million
For the C-QUADRAT Group, the first quarter of 2016 was shaped by the effects of
one of the worst starts to the stock-market year of all time. Despite cost
savings by comparison with the same quarter in the previous year, due to the
almost complete loss of performance-related management fees - which had reached
a record level in 2015 - it proved impossible to avoid a significant decline in
revenues and earnings.
In the 1st quarter of 2016, the total revenues of C-QUADRAT Investment AG
amounted to EUR 10 million (2015: EUR 40.9 million incl. performance-related
management fees with a volume of EUR 27 million). Due to a changeover of
commission payment procedures - funds of C-QUADRAT Kapitalanlage AG have been
outsourced to external management companies - an annual comparison of the total
revenue from regular management fees and performance-related management fees for
the same quarters in the years 2015 and 2016 is not possible.
Personnel expenses have declined by 26 per cent to EUR 2.3 million (2015: EUR
3.1 million). Other administrative expenses have fallen by 2 per cent to EUR 1.9
million (2015: EUR 2 million).
At EUR 0.5 million, the profit for the period is significantly lower than the
record result achieved in the same quarter in 2015 (EUR 15.4 million).
At the end of March the company's equity amounted to EUR 55.8 million (12/2015:
EUR 56.2 million). In the first quarter its equity ratio rose from 79 per cent
to 80 per cent of the balance sheet total as of the 2016 reporting date.
As of the reporting date, C-QUADRAT's assets under management amounted to
approx. EUR 5.3 billion. With offices in Vienna, London, Frankfurt, Geneva and
Yerevan and sales activities in 19 countries, C-QUADRAT is active throughout
Europe and Asia.
"This profit for the past period is unsatisfactory, following the extraordinary
record result for the first quarter of the previous year. Since there is
likewise no prospect of performance-related management fees over the next few
quarters due to the situation on the stock markets, we are currently focusing on
increasing the volume of assets under our management through intensive sales
efforts in our core markets, while evaluating new projects. On the costs side,
we are continuing to consistently follow through on our current savings
program," says C-QUADRAT founder and management board member Alexander Schütz on
the subject of the company's quarterly results.
With immediate effect, the interim report 1-3/2016 of C-QUADRAT Investment AG
may be downloaded from the Investor Relations section of its website www.c-
quadrat.at.
Further inquiry note:
Mag. Andreas Wimmer
Member of the board
Schottenfeldgasse 20
A-1070 Vienna
Tel.: +43 1 515 66 316
E-Mail: a.wimmer@investmentfonds.atwww.c-quadrat.com
end of announcement euro adhoc
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company: C-QUADRAT Investment AG
Schottenfeldgasse 20
A-1070 Wien
phone: +43 1 515 66-0
FAX: +43 1 515 66-159
mail: c-quadrat@investmentfonds.at
WWW: www.c-quadrat.com
sector: Financial & Business Services
ISIN: AT0000613005
indexes: Standard Market Auction
stockmarkets: official market: Frankfurt, Wien
language: English