Consors Discount-Broker AG
ConSors Discount-Broker english

Consors returning to profitability: 27% of jobs cut Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Consors returning to profitability: 27% of jobs cut Project costs lowered – Customer growth continues, investment fund saving schemes booming, trades follow stock market trend Consors Discount-Broker AG has set a firm course back to profitability with resolutely implemented cost-reducing measures and cuts of around 300 jobs (less 27%) by December 31, 2001. Besides reduced marketing budget and project costs, separation form Berlin Call Center will also have significantly positive effects. In third quarter 2001, Consors also recorded gratifying operative developments in customer growth, the number of investment fund saving schemes concluded, and trading activity in line with stock market trends. Karl Matthäus Schmidt, CEO Consors Discount Broker AG commented: ‘The profits realized from 1996 through 2000 have demonstrated our real performance potential. Consors is well on the way back to this former power. We have initiated everything necessary to return to profitability with Consors AG in 2002, even in a persistently bad market environment.’ From July to September, assets under custody across the Group fell by Euro 2.25 billion to Euro 6.23 billion, a drop of 27% compared with second quarter 2001. Securities under custody total Euro 4.58 billion (less 33%) with a comparatively stable fund volume of Euro 828 million (less 19%). Cash deposits rose 3% to Euro 1.65 billion. The number of investment fund saving schemes increased again by more than 11,000 to over 127,000 contracts concluded in Germany. Consors recorded almost 15,000 new customers in the same period. These new openings contrast with 8,200 account closures. Consequently, the total number of accounts across the Group increased to 555,540. Consors AG accounts for 491,330 of these and its European subsidiaries contribute with 64,210 accounts. The number of account closures was gratifyingly 15% less than in the second quarter. In line with the bad stock market mood, the number of trades went down by 22% across the Group to 1.4 million, 1.1 million of these in Germany and 0.3 million outside Germany. Following a slacker activity during the summer vacation period, business has gained momentum since September. end of ad-hoc-announcement (c)DGAP 18.10.2001 ——————————————————————————– WKN: 542700; Index: NEMAX 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 180730 Okt 01