DGAP-Adhoc: Varengold Bank AG: Forecast for the 2021 financial year

2021. június 14., hétfő, 12:00





DGAP-Ad-hoc: Varengold Bank AG / Key word(s): Forecast/Miscellaneous


Varengold Bank AG: Forecast for the 2021 financial year


14-Jun-2021 / 12:00 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Hamburg, 14 June 2021 - Varengold Bank AG (symbol: VG8) is planning for strong growth in earnings in the Transaction Banking segment for the current fiscal year, as well as high demand for the bank"s products and services for the rest of the year. On this basis, the Management Board today deducted an earnings forecast for the fiscal year 2021 from the current business planning. Based on current knowledge, the bank expects earnings before taxes (EBT*) as a key performance indicator to be EUR 16,4 million. In 2019, EBT was EUR 3.6 million and for 2020 EBT (preliminary) was expected to be EUR 1.8 million.

Dr. Bernhard Fuhrmann

Management Board


Frank Otten

Management Board

 



* EBT (earnings before taxes) is defined as period result before deduction of income taxes.

 



Disclaimer


This release contains forward-looking statements that involve certain risks and uncertainties. Future results may differ materially from those currently anticipated due to various risk factors and uncertainties, such as changes in business, economic and competitive conditions, currency exchange rate fluctuations, litigation uncertainties or investigations, and availability of financial resources. Varengold Bank AG assumes no responsibility for updating the forward-looking statements contained in this release.




Contact:

Ms. Sanja Schultz-Szabo (Head of Corporate Development)








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Language: English
Company: Varengold Bank AG

Große Elbstraße 39

22767 Hamburg

Germany
Phone: +49 (0)40 / 668649-0
Fax: +49 (0)40 / 668649-49
E-mail: investorrelations@varengold.de
Internet: www.varengold.de
ISIN: DE0005479307
WKN: 547930
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Munich, Stuttgart
EQS News ID: 1207607





 
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