Varengold Wertpapierhandelsbank AG: preliminary figures for the first half of 2012

Varengold Wertpapierhandelsbank AG / Key word(s): Half Year
Results/Development of Sales

06.08.2012 / 16:41

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Hamburg, 6th August 2012 - Varengold Wertpapierhandelsbank AG (WKN 547930),
a German investment bank with over 17 years' experience on the market and
an exclusive focus on asset management with managed futures and capital
markets brokerage, has presented its initial, unaudited results for the
first six months of 2012.

The period was shaped by reorganization and cost savings up to 25 % in all
fields of business as a reaction on the volatile market conditions. The
development of results was marked by outflows due to the industry's decline
in demand for managed futures once again and continued uncertainty in
financial markets.

The development of results in the first half of 2012 resulted in an EBITDA
of EUR 380 thousand, even as an EBITDA of EUR 451 thousand was generated in
the reference period of the previous year. The net loss is at EUR -84
thousand (first half of 2011: EUR -19 thousand). The general and
administrative expenses decreased from EUR 3.3 million to EUR 2.7 million.
The net commission income of EUR 428 thousand is significantly below the
comparable figure of EUR 906 thousand, while the net income from financial
transactions (trading portfolio) up to a value of EUR 2.6 million merely
implicates a reduction of EUR 36 thousand. The net interest income
decreased by EUR 27 thousand in comparison with the first half of the
previous year.

Varengold successfully executed a capital increase in May 2012 by placing a
total of 133,100 shares with an international financial investor (UHNWI)
from the United Arab Emirates that resulted in an influx of funds in the
gross amount of EUR 5,503,685. Subsequently the degrees of liquidity have
improved with an equity ratio of 91.3 % (first half of 2011: 88.1 %).

The board is expecting medium-dated improvements of results in the light of
developments already apparent. It is as yet too early to make a detailed
prognosis which would allow a comparison with market expectations.

Varengold Wertpapierhandelsbank AG plans to publish its half-yearly report
in September 2012 on the company homepage www.varengold.de.


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Language:    English                                                    
Company:     Varengold Wertpapierhandelsbank AG                         
             Große Elbstraße 27                                         
             22767 Hamburg                                              
             Germany                                                    
Phone:       +49 (0)40 / 668649-0                                       
Fax:         +49 (0)40 / 668649-49                                      
E-mail:      info@varengold.de                                          
Internet:    www.varengold.de                                           
ISIN:        DE0005479307                                               
WKN:         547930                                                     
Listed:      Freiverkehr in Berlin, Düsseldorf, Stuttgart; Open Market  
             (Entry Standard) in Frankfurt                              
 
 
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180540 06.08.2012