.
Fee and commission income 2007: EUR 47.4 million (+21%)
Operating profit before depreciation 2007: EUR 6.5 million (+23%).
Profit before tax 2007: EUR 6.9 million (+19%)
Net profit: EUR 5.7 million (+20%)
For the sixth year in succession, C-QUADRAT Investment AG (ISIN AT0000613005) considerably increased its annual result year-on-year and looks back on its most successful year since the company was founded in 1991. The path of profitable growth was pursued in 2007. Fee and commission income in financial year 2007 was pushed by 21% to EUR 47.4 million. Net income (fee and commission income minus fee and commission expenses) increased by as much as 36% to EUR 21.1 million. Operating profit before depreciation in the C-QUADRAT Group moved up by 23% to EUR 6.5 million, Profit before tax by 19% to EUR 6.9 million. Net profit for the year totalled EUR 5.7 million in the 2007 financial year, up 20% year-on-year. Both divisions, Asset Management and Brokerage & Advisory, contributed equally to this earnings upturn.
Fee and commission income in the Asset Management division rose by 24%
The Asset Management division generated significant organic growth. The income of this division increased by 24% to EUR 24.8 million. This upturn was driven by higher assets under management. In addition to the home market of Austria, these were primarily acquired in Germany. In the previous year on this important market of the future, C-QUADRAT not only initiated activities in the Asset Management division for institutional clients but also distributed C-QUADRAT products to end consumers via indirect distribution channels. As early as November 2007, more C-QUADRAT funds were sold in Germany than in Austria for the first time.
Fee and commission income in the Brokerage & Advisory division up by 18%
The Brokerage & Advisory division, which covers the mediation of securities and consultancy services, also contributed to the positive trend. The income of this division increased by 18% to EUR 22.6 million. This growth was driven primarily by the assets of the Absolute Plus Group which were relevant for earnings for the whole of the reporting year for the first time in 2007. The Absolute Plus Group specialises in the mediation of hedge funds and alternative investments to institutional customers.
Operating profit before depreciation 23% higher
Due to the positive trend in the two divisions, operating profit before depreciation increased 23% year-on-year.
For the first time and as scheduled, amortisation was taken on customer portfolios resulting from the acquisition of the Absolute Plus Group. For this reason the depreciation and amortisation figure moved up sharply from EUR 1.1 million in 2006 to EUR 2.8 million (+152%).
Profit before tax rises by 19% to EUR 6.9 million
In the reporting year, income from associates increased by 282% to EUR 1.9 million (2006: EUR 0.5 million). A key associate contributing to this result was the asset management company, ARTS Asset Management GmbH.
The overall financial result rose by 96% to EUR 3.2 million (2006: EUR 1.6 million). A contribution here was with income originating from the dormant participation in the Vienna branch of PRIVATINVEST Bank AG (a company of the Allianz Group). With this positive financial result, profit before tax was pushed 19% higher to EUR 6.9 million (2006: EUR 5.9 million).
Net profit: +20% to EUR 5.7 million
Overall, the company concluded the financial year with a record result. Despite difficult market conditions, net profit improved by 20% to EUR 5.7 million (2006: EUR 4.7 million).
2008: Focus on Germany, further income and earnings growth planned
The C-QUADRAT Investment AG product pipeline is well filled with innovative products. In 2008, the focus of sales activities will be Germany. In this market, a boom in sales of fund products is anticipated for 2008. "We now operate in 6 European markets with some 154 million potential customers. Our sales network has been expanded to over 35,000 advisors across Europe. Sales activities are well-distributed across both retail and institutional customers and we deploy a balance across all the distribution channels available to us. In 2008 we want to increase our fee generating assets further, thus pushing our income and Group results in a dynamic fashion. Further acquisitions are also not excluded," commented company founder and Executive Board member Alexander Schütz on the strategy for 2008. "Many of our products demonstrated their quality impressively over the last few weeks. Sales partners and customers have seen that we fulfil what we promised. We have a good positioning and - despite volatile markets - look optimistically into the future."
C-QUADRAT Investment AG s Annual Financial Statements are available for immediate download at www.c-quadrat.at .
Fee and commission income 2007: EUR 47.4 million (+21%)
Operating profit before depreciation 2007: EUR 6.5 million (+23%).
Profit before tax 2007: EUR 6.9 million (+19%)
Net profit: EUR 5.7 million (+20%)
For the sixth year in succession, C-QUADRAT Investment AG (ISIN AT0000613005) considerably increased its annual result year-on-year and looks back on its most successful year since the company was founded in 1991. The path of profitable growth was pursued in 2007. Fee and commission income in financial year 2007 was pushed by 21% to EUR 47.4 million. Net income (fee and commission income minus fee and commission expenses) increased by as much as 36% to EUR 21.1 million. Operating profit before depreciation in the C-QUADRAT Group moved up by 23% to EUR 6.5 million, Profit before tax by 19% to EUR 6.9 million. Net profit for the year totalled EUR 5.7 million in the 2007 financial year, up 20% year-on-year. Both divisions, Asset Management and Brokerage & Advisory, contributed equally to this earnings upturn.
Fee and commission income in the Asset Management division rose by 24%
The Asset Management division generated significant organic growth. The income of this division increased by 24% to EUR 24.8 million. This upturn was driven by higher assets under management. In addition to the home market of Austria, these were primarily acquired in Germany. In the previous year on this important market of the future, C-QUADRAT not only initiated activities in the Asset Management division for institutional clients but also distributed C-QUADRAT products to end consumers via indirect distribution channels. As early as November 2007, more C-QUADRAT funds were sold in Germany than in Austria for the first time.
Fee and commission income in the Brokerage & Advisory division up by 18%
The Brokerage & Advisory division, which covers the mediation of securities and consultancy services, also contributed to the positive trend. The income of this division increased by 18% to EUR 22.6 million. This growth was driven primarily by the assets of the Absolute Plus Group which were relevant for earnings for the whole of the reporting year for the first time in 2007. The Absolute Plus Group specialises in the mediation of hedge funds and alternative investments to institutional customers.
Operating profit before depreciation 23% higher
Due to the positive trend in the two divisions, operating profit before depreciation increased 23% year-on-year.
For the first time and as scheduled, amortisation was taken on customer portfolios resulting from the acquisition of the Absolute Plus Group. For this reason the depreciation and amortisation figure moved up sharply from EUR 1.1 million in 2006 to EUR 2.8 million (+152%).
Profit before tax rises by 19% to EUR 6.9 million
In the reporting year, income from associates increased by 282% to EUR 1.9 million (2006: EUR 0.5 million). A key associate contributing to this result was the asset management company, ARTS Asset Management GmbH.
The overall financial result rose by 96% to EUR 3.2 million (2006: EUR 1.6 million). A contribution here was with income originating from the dormant participation in the Vienna branch of PRIVATINVEST Bank AG (a company of the Allianz Group). With this positive financial result, profit before tax was pushed 19% higher to EUR 6.9 million (2006: EUR 5.9 million).
Net profit: +20% to EUR 5.7 million
Overall, the company concluded the financial year with a record result. Despite difficult market conditions, net profit improved by 20% to EUR 5.7 million (2006: EUR 4.7 million).
2008: Focus on Germany, further income and earnings growth planned
The C-QUADRAT Investment AG product pipeline is well filled with innovative products. In 2008, the focus of sales activities will be Germany. In this market, a boom in sales of fund products is anticipated for 2008. "We now operate in 6 European markets with some 154 million potential customers. Our sales network has been expanded to over 35,000 advisors across Europe. Sales activities are well-distributed across both retail and institutional customers and we deploy a balance across all the distribution channels available to us. In 2008 we want to increase our fee generating assets further, thus pushing our income and Group results in a dynamic fashion. Further acquisitions are also not excluded," commented company founder and Executive Board member Alexander Schütz on the strategy for 2008. "Many of our products demonstrated their quality impressively over the last few weeks. Sales partners and customers have seen that we fulfil what we promised. We have a good positioning and - despite volatile markets - look optimistically into the future."
C-QUADRAT Investment AG s Annual Financial Statements are available for immediate download at www.c-quadrat.at .
