S – Interim report for the third quarter of 2010

Alm. Brand Pantebreve A/S 

12.10.2010 20:07
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Highlights of the attached interim report for the third quarter of 2010 of Alm.
Brand Pantebreve A/S: 
*	Alm. Brand Pantebreve A/S posted a loss of DKK 34 million in Q3 2010, against
a loss of DKK 67 million in the same period of last year. The year-to-date loss
was DKK 81 million, against a DKK 89 million loss for the first nine months of
2009. 
*	In light of the company's current financial situation, the Board of Directors
has resolved to move the date of release of the company's interim report for
the third quarter of 2010 forward. 
*	The year-to-date performance was affected by three key factors: 
*	substantial writedowns on mortgage deeds in the first three quarters of 2010;
*	an unrealised capital gain due to a fall in interest rates in 2010; and
*	an unrealised capital loss on the mortgage deed portfolio due to an updated
security ranking of the mortgage deeds. 
*	This performance was unsatisfactory and caused shareholders' equity to fall
to DKK 3 million at 30 September 2010, against DKK 83 million at 31 December
2009. The net asset value per share was DKK 2 at 30 September 2010, against DKK
50 at 31 December 2009. 
*	The company lowers its guidance from a full-year loss of around DKK 80
million to a loss of around DKK 100 million. If the performance materialises as
expected, the company's equity will be negative at around DKK 20 million at 31
December 2010. 
Please direct any questions regarding the announcement to Søren Boe Mortensen,
Chairman, or Bo Chr. Alberg, Chief Executive, on tel. +45 35 47 48 49. 

Alm. Brand Pantebreve A/S

Søren Boe Mortensen	
Chairman

News Source: NASDAQ OMX



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Language:     English
Company:      Alm. Brand Pantebreve A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010136969
WKN:          
 
End of Announcement                             DGAP News-Service
 
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