>Business development in the first six months of 2011

Transcription

1 >Business development in the first six months of 20 Dr. Thorsten Reitmeyer, CEO Dr. Christian Diekmann, CFO Frankfurt/Main, 28 July 20

2 > First six months of 20: growth paying off Profitability Growth comdirect group s best half-year result Pre-tax profit of 50.4m 21% more than in first half of 20 Income of 161.5m 20.6m more than in first half of 20 Administrative expenses of 1.0m.8m more than in first half of 20 Growth in customers and accounts continues in 20 Over 2.5 million customers with assets of 43.6bn Gain of over 2k customers and assets of 1.1bn in first half of 20 Net fund inflow 0.9bn in first half of k new B2C accounts and custody accounts in first half of 20, further rise in multi-product customer rate in first half of 20 Strategy programmes progressing well 195k customers with assets of 1.3bn Agenda B2C - complus: development of CFD trading at comdirect successfully completed Fit for the future : white label solution developed for Commerzbank, around Target 20: record pre-tax profit > 90.5m (2007) 2

3 > Result up by 21% following significant income growth In m, comdirect group Pre-tax profit H1/: H2/: H1/: Income , B2C Administrative expenses B2C , B2C 3

4 > Significant income growth growth paying off In m, comdirect group Income B2C H1/: H2/: H1/: Net commission income B2C Net interest income (after provisions) Other income Orders* B2C (m) ø 3M-Euribor (%) * executed orders

5 > Disproportionately low increase in expenses In m, comdirect group Administrative expenses Personnel expenses H1/: 99.2 H2/: 0.8 H1/: Other administrative expenses B2C Depreciation

6 > First six months of 20: growth paying off Profitability Growth comdirect group s best half-year result Pre-tax profit of 50.4m 21% more than in first half of 20 Income of 161.5m 20.6m more than in first half of 20 Administrative expenses of 1.0m.8m more than in first half of 20 Growth in customers and accounts continues in 20 Over 2.5 million customers with assets of 43.6bn Gain of over 2k customers and assets of 1.1bn in first half of 20 Net fund inflow 0.9bn in first half of k new B2C accounts and custody accounts in first half of 20, further rise in multi-product customer rate in first half of 20 Strategy programmes progressing well 195k customers with assets of 1.3bn Agenda B2C - complus: development of CFD trading at comdirect successfully completed Fit for the future : white label solution developed for Commerzbank, around Target 20: record pre-tax profit > 90.5m (2007) 6

7 > Bigger market lead in online brokerage over 1.65m custody accounts In 000 Customers 2, (-2) 2, (-2) 2, (+52) 2, (-9) 2, (+191) Custody accounts B2C 1, (-2) 727 (+4) Current accounts 584 1, , ,482 1, (+192) (+8) (+25) (+30) B2C 1,476 1,509 1,559 (+22) (+33) (+50) 1,576 (+17) 1,593 (+17) Tagesgeld PLUS accounts 1,031 1,073 1,131 1,161 1, (+46) (+24) B2C: +143k new accounts/custody accounts in H1/20 7

8 > Over 900 thousand B2C customers with 2 or more comdirect products B2C customers with two or more products In k custody accounts (H1/20: + 18k) 718k current accounts (H1/20: + 71k) 305 1,185k Tagesgeld PLUSaccounts (H1/20: + 54k) As of end of period in % H1/

9 > Net fund inflow around 0.9bn in first half of year In bn Assets under custody Portfolio volume ** B2C B2C Deposit volume B2C DAX* 5,966 6,229 6,914 7,041 7,376 Group: 0.9bn net fund inflow in H1/20 * Index level as of end of quarter ** First-time reporting of 1.3bn portfolio volume of Commerzbank customers managed by ebase with new white label custody account solution 9

10 > First six months of 20: growth paying off Profitability Growth Agenda comdirect group s best half-year result Pre-tax profit of 50.4m 21% more than in first half of 20 Income of 161.5m 20.6m more than in first half of 20 Administrative expenses of 1.0m.8m more than in first half of 20 Growth in customers and accounts continues in 20 Over 2.5 million customers with assets of 43.6bn Gain of over 2k customers and assets of 1.1bn in first half of 20 Net fund inflow 0.9bn in first half of k new B2C accounts and custody accounts in first half of 20, further rise in multi-product customer rate in first half of 20 Strategy programmes progressing well B2C - complus: development of CFD trading at comdirect successfully completed Fit for the future : white label solution developed for Commerzbank, around 195k customers with assets of 1.3bn Target 20: record pre-tax profit > 90.5m (2007)

11 > Completion of development for CFD trading represents key milestone Focal areas Attractive range of products and services Main levers More customers through new and further-developed banking products More traders through expansion of broker functionalities Highlights 20 Development of CFD trading at comdirect completed Direct and individual customer contact Increased customer satisfaction more assets under custody through new and further-developed offerings Increased multi-product use through more campaigns Extension of ETF FreeBuy campaign Modern and effective banking platform More cost advantages through efficiency programme Improved infrastructure through more website and more technology Expansion of web tutorials Independent and transparent advisory models More building finance New advisory model for investments Online advice for Baufinanzierung PLUS

12 > ebase strategy programme: further progress in all focal areas No. 1* direct bank Focal areas Highlights 20 Business model: drive forward whitelabel banking 3. White label solution developed for Commerzbank Income lift up: expand product range and strengthen Sales 2. Custody account services for managing contracts with premium reserve accounts Cost measures: achieve more profitability 1. First set of measures implemented with immediate results, ongoing improvement in progress * In Germany, by level of customer assets placed in investment funds through third parties 12

13 > Aiming for record result for 20 In m, comdirect group Pre-tax profit Profit target 20: New record result H

14 > Growth paying off new record result for 20 in sight Result of 50.4m 21% more than in first half of 20 growth now paying off Around 2 thousand more customers and 1.1bn more assets Good progress in strategy programmes continuing Target 20: new record profit 14

15 > Agenda NOTES 15

16 > Consolidated balance sheet in accordance with IFRS/IAS In m Assets H1 20 H1 20 Cash reserve Claims on banks 5,297 6,436 Claims on customers Financial investments 4,498 4,180 Fixed assets and intangible assets Other assets Total assets,543,2 Liabilities and equity Liabilities to customers 9,909,504 Provisions Other liabilities Equity - of which revaluation reserve Total liabilities and equity,543,

17 > comdirect share AS OF: Shareholder structure (%) Price per share (Xetra/EUR) 8.65 Free float Commerzbank ISIN: Stock exchange segment: Index: Reuters/Bloomberg code: DE Prime Standard SDAX CDBG.DE/COM GR Price: Market capitalisation: ,076m Outstanding shares: 141,220,815 Av. daily turnover H1/20 (No.) - Xetra: - Frankfurt: 70,163 6,403 17

18 > Financial calendar 20 > 17 Feb Press/analysts conference, Frankfurt/Main > 22 Mar Annual report 20 > 28 Apr Quarterly report > 12 May Annual general meeting, Hamburg > 28 Jul Half-year report > 27 Oct Nine-month report 18

19 > 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 /