- DF AG achieves expected business volume and consolidated result in the first half of 2020
- Outlook for the full-year remains positive due to intact demand in the core businesses food & medicine
- Diversification and geographical expansion is on the right track
Grünwald, 23 September 2020 – DF Deutsche Forfait AG (ISIN DE000A2AA204) significantly improved its financial figures in the first half of 2020 compared to the same period of the previous year. The business volume increased by 95% to a total of EUR 88.1 million. The consolidated result of EUR 1.2 million (previous year: EUR -0.1 million) was also very pleasing. The gross result including the financial result also improved by almost 30% to a total of EUR 4.0 million.
Despite the difficult environment created by the emerging Corona pandemic, which has led to a decline in trading operations in emerging markets, demand in the DF Group’s core businesses in the food, medicine and medical products sectors, remained stable in the first half of 2020.
For the full year 2020, the Management Board expects a weaker but nevertheless positive gross and consolidated result compared to the previous year. “While the impact of the Corona pandemic has somewhat held up the planned expansion of our geographic focus in recent months, we have used the time to expand our network as well as our product portfolio to include the project finance business. We are therefore looking forward to 2021,” says CEO Dr. Behrooz Abdolvand.
Administrative expenses decreased by 17% to EUR 2.4 million in the first half of 2020. Earnings per share amounted to EUR 0.10 compared to EUR -0.01 in the first half of the previous year. Compared to the end of 2019, total assets increased from EUR 27.6 million to EUR 28.4 million. DF’s equity increased by EUR 1.2 million to EUR 9.7 million compared to year-end 2019. The equity ratio was 34.3% as of the reporting date.
The interim consolidated financial statements for the first half of 2020 of DF Deutsche Forfait AG is available in German on the company’s website at https://www.dfag.de/en/publications/.