Corporate News

Lloyd Fonds AG with positive half-year results of EUR 0.9 m

- Positive consolidated profit for the period of EUR 0.9 m after tax

- Significant increase in the aggregate of revenues and financial result

- Strategy 2019+ implementation measures proceeding according to plan

- Forecast for full year 2019 confirmed

Hamburg, 26 September 2019

Positive consolidated profit for the period of EUR 0.9 m

Lloyd Fonds AG publishes its half-year report today. In the first half of 2019, the Lloyd Fonds Group generated a positive consolidated profit for the period of EUR 0.9 m after tax (comparative period:
- EUR 0.8 m). In the first half of 2019, earnings before tax (EBT) amounted to EUR 0.7 m (comparative period: - EUR 0.5 m). The implementation of the Strategy 2019+ led to an increase in the headcount from 29 on 30 June 2018 to 53 employees on 30 June 2019. Personnel expenses rose to some EUR 3.5 m (comparative period: approx. EUR 2.0 m).

As of 30 June 2019, the Group had a comfortable liquidity of EUR 11.4 m (31 December 2018: EUR 13.9 m). The equity ratio was 57.2 percent (31 December 2018: 70.5 percent).

Significant increase in the aggregate of revenues and financial result

The aggregate of revenues and financial result amounted to EUR 9.0 m in the first half of 2019. In the same period, the total amounted to EUR 3.4 m (30 June 2018); in the full year 2018, aggregate of revenues and financial result amounted to EUR 8.7 m. The higher investment result stems in essence from the investment income from selling the two hotel properties in Hamburg and on Sylt in the "Businesshotel Hamburg/Ferienhotel Sylt" fund and the office property in Eindhoven held by the "Holland Eindhoven" Property Fund.

Strategy 2019+ implementation measures proceeding according to plan

As communicated at the 2019 general meeting, the Strategy 2019+ implementation measures are on schedule:

- Within the framework of the contribution of 90 percent of the shares in Lange Assets & Consulting GmbH to Lloyd Fonds AG, the owner control procedure has been successfully completed by the Federal Financial Supervisory Authority (BaFin). The closing is envisaged for the coming weeks.

- The execution of the SPSW Capital GmbH transaction is proceeding according to plan. The owner control procedure at BaFin for the contribution of 90 percent of the shares in SPSW Capital GmbH has commenced. BaFin has already issued a conformation of completeness.

- The approval procedure for the securities prospectus has been commenced at BaFin.

- The cash capital increase as part of the SPSW Capital GmbH transaction is envisaged for the fourth quarter of 2019.

- The permission application for a UCITS capital management company pursuant to Sections 20 in conjunction with 21 Capital Investment Code (KAGB) has been submitted to BaFin. This has laid the foundation and the regulatory basis for the further growth of Lloyd Fonds AG.

- As part of the Lloyd Fonds system, a permit for financial portfolio management pursuant to Section 32 Banking Act (Kreditwesengesetz) has been requested from BaFin. This will create the basis for the Lloyd Fonds AG digital offering for asset optimisation by means of an in-house developed algorithm on the basis of artificial intelligence.

Forecast for full year 2019 confirmed

The 2019 consolidated annual result will be shaped materially by the further implementation of Strategy 2019+ towards becoming an investment and active asset manager. This realignment is expected to open up opportunities in financial year 2019 to leverage deferred tax assets by exploiting tax loss carryforwards. Taking these positive tax effects into account, the Lloyd Fonds Group continues to anticipate a break even result for the 2019 financial year, despite the higher expenses.

The half-year report published today is available for download on the website at .

About Lloyd Fonds AG:

Lloyd Fonds AG is a bank independent wealth manager and active asset manager*. It has been listed on the stock market since 2005 and joined Deutsche Börse's Scale Standard in March 2017. (Deutsche Börse Scale, ISIN DE000A12UP29).

The new business model is based on three pillars. LF-Linie offers a clearly structured range of open-end investment funds for a broad public. Experienced asset managers actively manage them with clearly defined investment objectives and transparent return and risk profiles. The LF-System entails digital products for asset accumulation optimisation. The algorithm developed for this purpose by a dedicated team of experts is based on artificial intelligence, assembling optimised individual customer portfolios. The LF-Assets pillar offers wealthy clients comprehensvie advice in all financial matters. This is done by using the market expertise of the Lloyd Fonds Group for investments in direct investments and investments into funds and real estate.

The aim of the strategy 2019+ is to position Lloyd Fonds AG as an innovative quality leader in fund and asset management in Germany.

*inter alia subject to approvals from the supervisory authorities.