>Business development in the first six months of 2010

Transcription

1 >Business development in the first six months of 20 Michael Mandel, CEO Dr. Christian Diekmann, CFO Frankfurt/Main, 22 July 20 All figures unaudited

2 > HY 20: profitability maintained and on course for further growth Profitability Growth Profitability maintained 41.7m before tax result on par with previous year Net commission income 84.1m (: 45.3m), net interest income 46.3m (: 22.4m) Administrative expenses 99.2m investment continues Growth continues More than 2.16m customers with assets under custody of 37.5bn 1.9bn rise in customer assets (of which 1.6bn net fund inflow) 25k new B2C customers (: 22k) ~128k new B2C accounts and custody accounts, increase in multi-product use Agenda implementation progressing B2C - complus: further development of product and service offering, customer contact, platform and advisory models B2B Fit for the future : measures to leverage cost and earnings synergies Agenda proceeding to schedule Pre-tax profit target 20: 80m 2

3 > Result in first six months on par with previous year In m, comdirect group Pre-tax profit Income H1/: H2/: H1/: B2B B2C B2B 9.6 Administrative expenses B2C B2B B2C -3.0 Q3 Q4 Q1 Q3 Q4 Q1 3

4 > Rise in net commission income, market pressure on net interest income in m, comdirect group Net commission income Income ,1 9,2,4 9,7 45.3,9 B2B B2B Executed orders B2C (m) B2C Apr: 0.66 May: 0.81 Jun: 0.60 Net interest income (after provisions) B2C Q3 Q4 Q1 Other income Q3 Q4 Q1 4

5 > Administrative expenses in reflect launch of market offensive in m, comdirect group Personnel expenses Administrative expenses B2B Other administrative expenses B2C Depreciation Q3 Q4 Q Q3 Q4 Q1 5

6 > HY 20: profitability maintained and on course for further growth Profitability Growth Profitability maintained 41.7m before tax result on par with previous year Net commission income 84.1m (: 45.3m), net interest income 46.3m (: 22.4m) Administrative expenses 99.2m investment continues Growth continues More than 2.16m customers with assets under custody of 37.5bn 1.9bn rise in customer assets (of which 1.6bn net fund inflow) 25k new B2C customers (: 22k) ~128k new B2C accounts and custody accounts, increase in multi-product use Agenda implementation progressing B2C - complus: further development of product and service offering, customer contact, platform and advisory models B2B Fit for the future : measures to leverage cost and earnings synergies Agenda proceeding to schedule Pre-tax profit target 20: 80m 6

7 > Growth in customer base continues, over 1 million TG PLUS accounts in 000 Customers Custody accounts 1,421 1,420 1,419 1,412 1,414 B2B ,140 2,145 2,151 2,143 2,163 B2C B2B Current accounts B2C 1,432 1,441 1,451 1,454 1,476 Tagesgeld PLUS accounts Q3 Q4 Q1 Q3 Q4 Q1 B2C: ~+128k new accounts/custody accounts in H1 7

8 > Further rise in number of multi-product users In 000 B2C customers with two or more products k custody accounts (H1: +8k) k current accounts (H1: +50k) 1,031k Tagesgeld PLUS accounts (H1: +70k) As of end of period (%) H1/

9 > 1.9bn rise in customer assets, of which 1.6bn net fund inflow in bn Assets under custody Portfolio volume B2B B2B B2C B2C Deposit volume Q3 Q4 Q1 Q3 Q4 Q1 Group: + 1.6bn net fund inflow in H1 9

10 > HY 20: profitability maintained and on course for further growth Profitability Growth Profitability maintained 41.7m before tax result on par with previous year Net commission income 84.1m (: 45.3m), net interest income 46.3m (: 22.4m) Administrative expenses 99.2m investment continues Growth continues More than 2.16m customers with assets under custody of 37.5bn 1.9bn rise in customer assets (of which 1.6bn net fund inflow) 25k new B2C customers (: 22k) ~128k new B2C accounts and custody accounts, increase in multi-product use Agenda Agenda implementation progressing B2C - complus: further development of product and service offering, customer contact, platform and advisory models B2B Fit for the future : measures to leverage cost and earnings synergies proceeding to schedule Pre-tax profit target 20: 80m

11 > complus continues to progress Attractive range of products and services More customers through new and further-developed banking products More traders through expansion of broker functionalities Highlights H1 Launch of JubiläumsDepot Direct and individual customer contact Increased customer satisfaction more assets Activation and broader under custody through new Affluent and Trader marketing for current offerings accounts Increased multi-product use through more campaigns Modern and effective banking platform More cost advantages through efficiency programme Improved infrastructure through more website and more technology Launch of next generation Informer section Independent and transparent advisory models More building finance New advisory model for investments New advisory model for provisioning Restructuring of advisory segment 11

12 > complus: specific measures implemented, further measures follow H1/20 H2/20 Attractive range of products and services JubiläumsDepot ( anniversary custody account ) launched TG PLUS pays 2.1% on amounts up to 5,000 Extend services offered on current account Optimise and enhance brokerage offering Direct and individual customer contact Customer Motives survey published Anniversary flat fee introduced and custody account transfer campaign carried out Launch current account offensive Launch brokerage offensive Additional investment of 5m m 12

13 > complus: specific measures implemented, further measures follow H1/20 H2/20 Modern and effective banking platform Next generation Informer section on website introduced Verified by Visa introduced Further improve accessibility for customers Further extend technology lead Independent and transparent advisory models comdirect private finance reduced and merged into comdirect bank Market launch of Anlageberatung PLUS and increase in number of partners for Baufinanzierung PLUS Further development Baufinanzierung PLUS and Anlageberatung PLUS Launch Vorsorge PLUS 13

14 > Success of Fit for the future programme sustained H1/20 H2/20 Costs Excess capacities reduction on schedule Cost synergies in the comdirect group through use of same service providers Office relocations and greater area efficiency Cost-savings in IT operations Income Product range considerably expanded with focus on banking Sales division realigned Number of sales partner organisations increased Further increase in share of white label accounts and custody accounts Drive forward repositioning of ebase as No. 1 B2B direct bank 14

15 > Good first six months for comdirect Result of 41.7m on a par with the previous year 25k more B2C customers and over 120k more B2C accounts/custody accounts 1.9bn rise in customer assets, of which 0.8bn from higher deposit volume More marketing for more growth complus and Fit for the future programmes on schedule Pre-tax profit target for 20: 80m 15

16 > Agenda NOTES 16

17 > Consolidated balance sheet in accordance with IFRS/IAS in m Assets Cash reserve Claims on banks Claims on customers Financial investments Fixed assets and intangible assets Other assets Total assets H , , ,259 H , , ,543 Liabilities and equity Liabilities to customers Provisions Other liabilities Equity - of which revaluation reserve Total liabilities and equity 9, ,259 9, ,543 17

18 > comdirect share AS OF: Shareholder structure (%) Price per share (Xetra/EUR) Free float Commerzbank Q3 Q4 Q1 ISIN: Stock exchange segment: Index: Reuters/Bloomberg code: DE Prime Standard SDAX CDBG.DE/COM GR Price: Market capitalisation: ,070m Outstanding shares: 141,220,815 Av. daily turnover H1 20 (No.) - Xetra: - Frankfurt: 68,878 7,928 18

19 > Financial calendar 20 > 18 Feb Press/analysts conference, Frankfurt/Main > 22 Mar Annual report 20 > 27 Apr Quarterly report > 7 May Annual general meeting, Hamburg > 22 Jul Half-year report > 26 Oct Nine-month report 19

20 > Investor Relations For further information, please contact: Dr. André Martens Tel +49 (0) 46 / andre.martens@comdirect.de Tobias Vossberg Tel +49 (0) 46 / tobias.vossberg@comdirect.de Fax +49 (0) 46 /