UniCredit Bank Austria AG
Bank Austria Creditanstalt AG: Results for the 2007 Financial Year
Bank Austria Creditanstalt AG / Final Results Release of an Ad hoc announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Ad hoc announcement pursuant to Section 48d (1) of the Austrian Stock Exchange Act (§ 48d (1) BörseG) Bank Austria Creditanstalt's Full Year results 2007 Date of entry: 13 March 2008 Results for the 2007 Financial Year: Bank Austria doubles profit to EUR 2.3 billion BA-CA performs strongly in a difficult year: profit before tax up by 96.4 per cent to EUR 2.7 billion Operating profit reaches new record level of EUR 3.1 billion Return on equity after tax improved to 17 per cent Economic Value Added (EVA) up by EUR 905 million to EUR 1.3 billion, with contributions coming from all regions and business segments CEE business segment accounts for 49 per cent of overall profit before tax Austrian customer business achieves strong increase of close to 80 per cent(+ EUR 354 million) in profit before tax Cost/income ratio further improved to 52.2 per cent Bank Austria Creditanstalt (BA-CA), a member of UniCredit Group, one of the leading European banking groups, again performed strongly in the difficult market environment prevailing in 2007. Profit before tax was EUR 2.7 billion; while this is lower than the previous year’s level of EUR 3.3 billion, it should be noted that a direct comparison with the reported figure for 2006 is not meaningful; the previous year’s figure should be adjusted for special effects totalling a net EUR 1.9 billion resulting from the sale of the Polish bank Bank BPH and the Croatian bank Splitska banka. Adjusted for these special effects, results from current business improved by 96.4 per cent. 2007 was the first full year of Bank Austria Creditanstalt in its function as sub-holding company for CEE operations. The group of consolidated companies widened significantly. To make a comparison with 2006 more meaningful, consolidation effects resulting from the disposal of banks in 2006 and from additions to the group of consolidated companies in 2007 are to be taken into account. These include: • – EUR 2.2 billion: capital gains in 2006 (sale of Bank BPH S.A. and HVB Splitska banka d.d.) • – EUR 358 million: missing profit contribution 2006 from banks which were sold • + EUR 713 million: profit contribution 2006 from new CEE banks If the consolidation effects in the CEE Division are taken into account, profit before tax for 2006 declines from EUR 3.3 billion to EUR 1.4 billion (pro forma in the new perimeter). On the basis of adjusted pro-forma figures, profit before tax improved by 96.4 per cent to EUR 2.7 billion compared with the previous year. Pro change forma* change in Euro m 1-12/07 1-12/06 in % 1-12/06 in % Q4/07 Net interest 3,653 2,456 48.7 3,179 14.9 1,015 Dividend income 124 130 -4.6 127 -2.4 17 Income from investments in companies valued at equity 160 96 67.3 100 60 47 Net interest income 3,936 2,681 46.8 3,406 15.6 1,079 Net fee and commission income 2,124 1,667 27.4 1,808 17.5 550 Net trading income 141 348 -59.6 480 -70.6 -39 Net other operating income/expenses 214 66 >100 131 63.4 42 TOTAL REVENUES 6,414 4,762 34.7 5,825 10.1 1,632 Staff expenses -1,836 -1,606 14.3 -1,890 -2.9 -505 Other administrative expenses -1,243 -903 37.6 -1,179 5.4 -370 Expenses recovery 4 1 1 Writedowns of tangible/intangible assets -270 -248 9.1 -330 18.2 -67 OPERATING EXPENSES -3,346 -2,757 21.4 -3,397 -1.5 -941 OPERATING PROFIT 3,069 2,005 53.0 2,428 26.4 691 Provisions for risks and charges -75 -111 -32.4 -143 -47.6 -34 Goodwill impairment -8 -8 Net writedowns of loans -483 -679 -28.9 -715 -32.4 -128 Net income from investments 268 2,313** -88.4 93 >100 49 Integration costs -33 -248 -86.7 -257 -87.2 -13 PROFIT BEFORE TAX 2,745 3,272 -16.1 1,398 96.4 565 Income taxes -382 -140 >100 -240 59.2 -34 NET PROFIT 2,364 3,132 -24.5 1,158 >100 531 Minority interests -106 -111 -4.3 -105 1.0 -24 CONSOLIDATED PROFIT 2,258 3,022 -25.3 1,053 >100 507 * excluding Bank BPH and HVB Splitska banka; including transferred CEE subsidiaries from UniCredit and HVB. ** including capital gain out of the sale of Bank BPH and HVB Splitska banka 1-9/07 1-9/06 ROE after taxes 17.0% 15.8%*** Cost/income ratio 52.2% 57.9% Risk/earnings ratio 12.3% 25.3% *** adjusted for the capital gain Bank BPH and HVB Splitska banka and the one-off increase in the provisioning charge. in Euro bn change 30/09/07 31/12/06 in % Total assets 209.2 154.3 35.6 Equity (without minority interests) 14.7 9.9 47.8 Tier 1 ratio 8.76% 11.62% Enquiries: Günther Stromenger Investor Relations Bank Austria Creditanstalt phone: +43 (0) 50505 - 87230 e-mail: guenther.stromenger@ba-ca.com Issuer: Bank Austria Creditanstalt AG Schottengasse 6-8. 1010 Vienna. Austria e-mail: IR@ba-ca.com Internet: http://ir.ba-ca.com Share: ISIN: Listed: AT0000995006 Vienna. Standard Market Auction Warsaw. Main Market Largest bonds by volume issued: ISIN: Stock exchanges: Xs0211008544 Luxembourg Xs0206399627 Luxembourg Further stock exchanges where bonds are admitted to listing: Vienna. Frankfurt. Stuttgart. Paris. Zurich Contact: Günther Stromenger Investor Relations Bank Austria Creditanstalt phone: +43 (0) 50505 - 87230 e-mail: guenther.stromenger@ba-ca.com 13.03.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Bank Austria Creditanstalt AG Am Hof 2 1010 Wien Österreich Phone: 0043 (0) 50505 - 87230 Fax: 0043 (0) 50505 - 8987230 E-mail: ir@ba-ca.com Internet: www.ba-ca.com ISIN: AT0000995006 WKN: 99500 Listed: Foreign Exchange(s) Warschau, Wien End of News DGAP News-Service ---------------------------------------------------------------------------
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