- WKN: 121806
- ISIN: DE0001218063
- Land: Deutschland
Nachricht vom 03.04.2020 | 07:30
FinLab AG: FinLab publishes Annual Financial Report 2019
DGAP-News: FinLab AG
/ Key word(s): Annual Results
Frankfurt am Main, April 3rd, 2020 - FinLab AG (WKN 121806, ISIN DE0001218063, Ticker A7A.GR) has again achieved a very good result according to IFRS in the financial year 2019.
FinLab's net profit for the period according to International Financial Reporting Standards (IFRS) improved by EUR 22.6 million to EUR 39.5 million (previous year EUR 16.9 million). By contrast, the company's positive overall result of EUR 36.6 million under IFRS (previous year: EUR -3.7 million) was slightly negatively affected by the performance of the share price of Heliad Equity Partners GmbH & Co KGaA and was thus EUR -2.9 million lower than the net profit for the period.
FinLab's net asset value (NAV) per share showed correspondingly sharp year-on-year growth from EUR 20.44/share to EUR 27.12/share at the reporting date. The company's equity according to IFRS amounts to EUR 142.8 million (previous year: EUR 106.3 million). The equity ratio is 97.9% (previous year: 98.2%).
According to German GAAP (HGB), an annual result of EUR -1.5 million (previous year: EUR 9.1 million) is reported due to updated valuations of portfolio investments, whereby the result in 2018 was also largely influenced by the partial exit from Deposit Solutions and the associated contribution to earnings of EUR 8.5 million. The equity ratio remains at 98.1%.
As of the balance sheet date, the company had cash and cash equivalents of around EUR 11 million and thus is very well positioned to weather the current difficult market conditions caused by the Covid-19 pandemic.
"Our solid cash position ensures that investments from the existing portfolio can be supported with liquidity, if necessary and at the same time take advantage of opportunities for new investments that a market environment like this naturally offers. Even though the majority of investments are not yet acutely affected by the Covid-19 pandemic, it cannot be ruled out that business models will have to be adapted, revised or re-financed in the interim due to the effects on the entire economic and private sectors. However, with our Nextmarkets stake, we already see that there are also always opportunities in the crisis," explains Stefan Schütze, member of the Finlab AG Executive Board. "'With our Blockchain Fund, Finlab EOS VC GmbH& Co. KG, we will continue to invest selectively in blockchain projects in 2020 also."
"We are also very well positioned for stormy times. Particularly in special times, it becomes clear whether you have a balanced portfolio, which can also take advantage of the opportunities that arise in the crisis, of which we at FinLab are convinced," says Juan Rodriguez, member of the Executive Board of Finlab AG.
About FinLab AG:
|Phone:||+49 (0)69 719 12 80 - 0|
|Fax:||+49 (0)69 719 12 80 - 011|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange|
|EQS News ID:||1014569|
|End of News||DGAP News Service|
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