Grünwald, 29 May 2019 – DF Deutsche Forfait AG (ISIN share: DE000A2AA204, ISIN bond: DE000A1R1CC4) today published the quarterly statement for the first three months of 2019. Overall, the company’s results of operation improved compared to the previous year. The consolidated result for the first quarter of 2019 amounted to EUR -0.4 million (Q1 2018: EUR -0.9 million), which is equivalent to earnings per share of EUR -0.03 (Q1 2018: EUR -0.08).
While the business volume of about EUR 1.0 million (Q1 2018: EUR 9.8 million) in the report-ing period fell well short of expectations and the same period of the previous year, the con-sulting business, which is not included in the business volume, developed significantly better than planned. The decline in the business volume is primarily attributable to the continuing dif-ficulties of the Iranian business partners in providing the foreign exchange required to exe-cute trading transactions. In recent weeks, however, there have been developments which suggest that these difficulties can be overcome and new business can be concluded. Overall, DF Group generated a positive gross result of EUR 0.7 million in the first quarter (Q1 2018: EUR -0.1 million).
Due to a EUR 15.0 million loan granted to DF Deutsche Forfait GmbH by the majority share-holder of DF Deutsche Forfait AG, DF Deutsche Forfait Group’s financial situation improved significantly. Cash and cash equivalents rose to EUR 18.0 million as of 31 March 2019 (31 December 2018: EUR 3.6 million).
The quarterly statement of DF Deutsche Forfait AG for the period from 1 January to 31 March 2019 is available at https://www.dfag.de/en/publications/.