22.03.2011 - comdirect publishes 2010 annual report
Pre-tax profit of EUR 80.9m - comdirect group with around 2.3 million customers - dividend proposal of 42 cents per share
Quickborn. The comdirect group publishes its annual report for 2010 today. It confirms the figures presented at the press conference in February. The comdirect group achieved pre-tax profit of EUR 80.9m (previous year: EUR 76m) for financial year 2010, thereby slightly exceeding the target set in the middle of the year of EUR 80m. Shareholders are set to benefit from this positive development: a dividend of 42 cents per share will be proposed to the annual general meeting.
In financial year 2010, the comdirect group generated income of EUR 290.9m, surpassing the previous year's figure (EUR 283.9m). Net interest income after provisions stood at EUR 101.8m (previous year: EUR 110.0m) due to persistently low market interest rates. More trades led to a 16 % rise in net commission income which climbed to EUR 172.8m (previous year: EUR 148.8m). Administrative expenses increased to EUR 210m (previous year: EUR 198.9m) as a result of higher marketing expenses.
In the B2C business line (comdirect bank AG) the number of customers has increased by 108,301 to 1,559,021 since the start of the year. At EUR 26.32bn at the end of December, assets under custody were up 18.3 % on the level at the end of 2009 (EUR 22.24bn). With 647,048 current accounts in total, comdirect bank recorded a rise of 113,120 accounts in 2010 compared with 2009. The number of Tagesgeld PLUS ("call money PLUS") accounts increased by 17.7 % to 1,130,998 and the number of custody accounts by 4 % to 748,151.
In the B2B business line (ebase GmbH), the number of customers at the end of 2010 stood at 737,054, up 5.3 % on the previous year. Assets under custody increased by 21.6 % to EUR 16.2bn as a result of price gains and new business.
|EUR thousand|| |
2010 vs 2009
| Net interest income |
| Provisions for |
| Net commission |
| Other income ||25,107||7,122||3,368||3,338||2,483||16,311||-35.03 %|
| Administrative |
| Pre-tax profit* ||75,993||21,182||20,526||21,266||17,900||80,874||6.42 %|
| After-tax profit ||56,624||15,682||15,127||15,371||13,454||59,634||5.32 %|
The new comdirect annual report is now available to download as a pdf file at www.comdirect.de/publications.
An iPad optimised version of the annual report is also being offered for the first time.
The online version has a number of additional functions such as the full text search and Quick Analyser, which enables the user to show and compare figures interactively. The "My annual report" function also allows the user to individually compile selected sections of the annual report. Tables in the financial report can also be downloaded in Excel format.
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