DF Deutsche Forfait AG publishes figures for Q1 2017

06Jul2017

DF Deutsche Forfait AG publishes figures for Q1 2017

Cologne, 6 July 2017 – DF Deutsche Forfait AG (ISIN share: DE000A2AA204, ISIN bond: DE000A1R1CC4) today published the quarterly statement for the first three months of 2017. As presented in the Annual Report for the past fiscal year, DF Group realized no business volume in the first quarter (Q1 2016: EUR 3.4 million.). Business with Iran was much slower than projected. Moreover, Dr. Manzouri’s absence due to illness led to a delay in the business development. The consolidated net loss amounted to EUR 0.4 million (Q1 2016: EUR -4.3 Mio.), which is equivalent to earnings per share of EUR -0.04.

The Group’s gross profits totaled EUR 1.6 million in Q1 2017 (Q1 2016: EUR 0.4 million) and were essentially influenced by commission income of EUR 0.5 million under the Trust Agreement and by the write-up of a receivable that forms part of the creditor assets. The write-up has no effect on the bottom line, as the value of the liabilities to the insolvency creditors increased at the same rate. Administrative expenses, which comprise personnel expenses and other operating expenses, almost halved to approx. EUR 2.5 million compared to the prior year period (Q1 2016: EUR 4.8 million).

The company continues to expect a notably higher business volume for the full year 2017. Due to the special features of the business model, it is impossible to reliably predict if the business volume will be sufficient to achieve a balanced consolidated result.

The quarterly statement for the period from 1 January to 31 March 2017 of DF Deutsche Forfait AG is available for download at https://www.dfag.de/publications/.

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