Deutsch

Press release

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.
 

Overview
EUR thousand
2009*
Q1/10
Q2/10
Q3/10
Q4/10
2010
2010 vs 2009
Net interest income
before provisions
108,693 23,973 22,627 26,218 29,256 102,074 -6.09 %
Provisions for
possible loan
losses
1,299 -79 -178 -392 394 -255 -119.63 %
Net commission
income
148,757 38,791 45,293 40,127 48,561 172,772 16.14 %
Other income
 
25,107 7,122 3,368 3,338 2,483 16,311 -35.03 %
Administrative
expenses
198,918 48,625 50,584 48,025 62,794 210,028 5.59 %
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 %
*2009 including restructuring expenses

Press information:

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.

Press contact: Johannes Friedemann, Tel. +49 (0) 41 06/704-1340,
Fax +49 (0) 41 06/704-3402, e-mail presse@comdirect.de

All press releases and images are available at

If you no longer wish to receive these press releases, please send an e-mail to presse@comdirect.de.

Search Criteria