ADC African Development Corporation AG
ADC’s nine-months 2013 results underline positive effect of transformation ++ Selected as a World Economic Forum Global Growth Company
ADC African Development Corporation AG / Schlagwort(e): 9-Monatszahlen/Quartalsergebnis
ADC African Development Corporation AG (ADC), ISIN DE000A1E8NW9, announces a net profit of EUR 6.9 million for the first nine months of 2013. The Group achieved a net interest income of EUR 65.4 million and total operating income of EUR 99.0 million in the first nine months of 2013 compared to an operating loss of EUR 15.2 million in the same period last year prior to transformation into a banking group. This leads to a profit before tax of EUR 12.2 million in the period under review compared to a loss of EUR 25.9 million in the prior year period. On a quarterly basis, Q3 2013 net loss was EUR 857k, owing primarily to specific loan impairments at BancABC and ADC’s indirect investment in Union Bank of Nigeria (UBN).
At the end of September, ADC had assets totaling EUR 1,277.5 million, 3% below the half-year 2013 figure of EUR 1,316.6 million. Total deposits declined by 6% on a Euro basis from EUR 972.3 million as at 30 June 2013 to EUR 913.5 million as at 30 September 2013. Net loans and advances decreased from EUR 875.9 million at the end of June 2013 to EUR 838.9 million at the end of September 2013. The negative development in loans and deposits is largely the result of exchange rate fluctuations in the countries of banking operations, and also stems from the deliberate slowdown in order to reduce risk and balance the portfolio. Total equity increased slightly from EUR 165.7 million at the end of June 2013 to EUR 166.5 million at the end of September 2013. In addition, ADC announces that it became a member of the World Economic Forum as a Global Growth Company, joining over 370 companies from 60 countries that are striving to be tomorrow’s industry leaders and be a part of a driving force of economic and social change in the world. Dirk Harbecke, CEO of ADC commented: ‘ADC is proud to have joined the prestigious business community at the World Economic Forum and to contribute to its vision of shaping global, regional and industry agendas and to be an agent of change on the African continent. After a small loss in Q3 on the back of one-time effects, ADC expects to return to profitability in Q4 2013 and end the year with a Group net profit of approximately EUR 10 million. The company’s transformation efforts have increased ADC’s profitability and earnings stability and resulted in a private placement from a new strategic investor in July 2013 who believes that ADC’s excellent team and unique vision offer significant opportunities for further growth.’ The Interim Report will be made available for download on ADC’s website: http://www.african-development.com/en/investor-relations/investor-information/financial-reports/ About ADC Kontakt: Investor Relations investor-relations@african-development.com T +49 69 719 12 80 119 Ende der Corporate News 29.11.2013 Veröffentlichung einer Corporate News/Finanznachricht, übermittelt durch die DGAP – ein Unternehmen der EQS Group AG. Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Die DGAP Distributionsservices umfassen gesetzliche Meldepflichten, Corporate News/Finanznachrichten und Pressemitteilungen. Medienarchiv unter http://www.dgap-medientreff.de und http://www.dgap.de |
Sprache: | Deutsch | |
Unternehmen: | ADC African Development Corporation AG | |
Grüneburgweg 18 | ||
60322 Frankfurt/Main | ||
Deutschland | ||
Telefon: | +49 69 719 12 80 119 | |
Fax: | +49 69 719 12 80 999 | |
E-Mail: | info@african-development.com | |
Internet: | www.african-development.com | |
ISIN: | DE000A1E8NW9 | |
WKN: | A1E8NW | |
Börsen: | Freiverkehr in Berlin, Düsseldorf; Frankfurt in Open Market (Entry Standard) | |
Ende der Mitteilung | DGAP News-Service |
242275 29.11.2013 |