Edition:
India

Aareal Bank Group Affirms FY Profit Forecast After Q3 Results


Tuesday, 13 Nov 2018 

Nov 13 (Reuters) - Aareal Bank AG ::DGAP-NEWS: AAREAL BANK AG: AAREAL BANK GROUP AFFIRMS ITS FULL-YEAR PROFIT FORECAST, AFTER SUCCESSFUL THIRD-QUARTER RESULTS.Q3 OPERATING PROFIT 70 MILLION EUR VERSUS 82 MILLION EUR YEAR AGO.Q3 EPS 0.70 EUR.CONSOLIDATED OPERATING PROFIT OF EUR 70 MILLION FOR Q3 (Q2 2018: EUR 62 MILLION; Q3 2017: EUR 82 MILLION).RAISED FULL-YEAR EARNINGS GUIDANCE FOR 2018 AFFIRMED.AAREAL BANK ANTICIPATES CONSOLIDATED OPERATING PROFIT OF BETWEEN EUR 312 MILLION AND EUR 352 MILLION.NET INTEREST INCOME AT A SOLID LEVEL.NET COMMISSION INCOME ONCE AGAIN RISES YEAR-ON-YEAR.NEW BUSINESS OF EUR 6.1 BILLION FOR FIRST NINE MONTHS RISES ABOVE SAME PERIOD OF PREVIOUS YEAR.NEW BUSINESS TARGET FOR FULL YEAR RAISED TO BETWEEN EUR 8 BILLION AND EUR 9 BILLION.AAREAL BANK GENERATED CONSOLIDATED OPERATING PROFIT OF EUR 199 MILLION DURING FIRST NINE MONTHS OF THIS YEAR (9M 2017: EUR 262 MILLION, INCLUDING A POSITIVE NON-RECURRING EFFECT AMOUNTING TO EUR 50 MILLION).CONSOLIDATED NET INCOME ALLOCATED TO ORDINARY SHAREHOLDERS OF AAREAL BANK AMOUNTED TO EUR 41 MILLION FOR Q3 (Q3 2018: EUR 47 MILLION).CONTINUES TO EXPECT CLOSING OF ACQUISITION OF DÜSSELDORFER HYPOTHEKENBANK AG TO TAKE PLACE IN CURRENT FINANCIAL YEAR. 

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