02.08.2019 Varengold Bank AG  DE0005479307

DGAP-News: Varengold Bank AG: 2019 Half-Year Results - Significant Increase Confirms Strategic Positioning as 'Bank for the Marketplace Lending Industry'


 

DGAP-News: Varengold Bank AG / Key word(s): Half Year Results/Miscellaneous
Varengold Bank AG: 2019 Half-Year Results - Significant Increase Confirms Strategic Positioning as 'Bank for the Marketplace Lending Industry'

02.08.2019 / 12:34
The issuer is solely responsible for the content of this announcement.


  • Earnings before tax: +47.1%
  • New customer acquisition in Marketplace Banking: +150%
  • Average number of employees: +13.8%
  • Overfulfilment of EBT forecast for 2019 comes within reach
 
Hamburg, 2nd August 2019 - In the first half of 2019, Varengold Bank AG increased its earnings before tax by 47.1 % compared to the previous year, to a total of EUR 1.78m (30th June 2018: EUR 1.21m). Consequently, the company is well on its way to exceed its EBT forecast of EUR 2.8m to EUR 3.2m for the financial year 2019.
A 150% increase in new customer acquisition in the area of Marketplace Banking compared to the previous year proved to be a key driver of success. Among the fintechs that Varengold Bank AG managed to convince of its service profile were Assetz Capital, Finanzarel and Klear.
In the light of these positive developments, the Management Board concludes that it has set the right course by positioning the company as "The Bank for the Marketplace Lending Industry". The shareholders' conviction thereof was demonstrated by the successful capital increase at the beginning of 2019. With additional funds of approx. EUR 7.8m, Varengold Bank AG is well endowed for further growth.
Here the focus will lie in continued support of marketplaces that offer digital finance solutions to companies and consumers. Varengold Bank AG provides them with debt and equity capital market products, international monetary transaction services, as well as fronting services for products that require a banking licence. With its know-how in lending, its regulatory expertise and its network across the European banking scene, the bank helps marketplaces to build sustainably successful businesses.
Varengold Bank AG identified as its key to success the ability to add value for customers that usually remain outside the target area of competitors. The bank offers fast business decisions and innovative solutions, all the while providing high-quality credit analysis and adherence to solid traditional credit rules.
This is only possible with the help of a highly skilled team. During the first half of 2019, Varengold Bank AG increased its average number of employees accordingly by 13.8% compared to the previous year. At the time of writing, 9 additional vacancies are yet to be filled.
 

About Varengold Bank AG
Varengold Bank AG is a German bank founded in 1995, which acquired its full banking license in 2013. It is headquartered in Hamburg, with additional branches in London and Sofia. Its core business areas are Marketplace Banking and Transaction Banking (Commercial Banking), and it focuses on cooperating with European fintechs, particularly lending platforms. The product range it offers includes funding, debt and equity capital markets products, fronting services for products subject to banking license requirements and international payment services.
The Board of Managing Directors is composed of Dr. Bernhard Fuhrmann and Frank Otten, who continuously do their part in modernizing the financial sector along with a 70-strong international team. Varengold Bank is registered with the Federal Financial Supervisory Authority (BaFin) under 109 520 and the Varengold share (ISIN:DE0005479307) has been listed on the Open Market of the Frankfurt Stock Exchange since 2007. For more information, see https://www.varengold.de/en/home/
 

Disclaimer

This release contains forward-looking statements that involve certain risks and uncertainties. Future results may differ materially from those currently anticipated due to various risk factors and uncertainties, such as changes in business, economic and competitive conditions, currency exchange rate fluctuations, litigation uncertainties or investigations, and availability of financial resources. Varengold Bank AG assumes no responsibility for updating the forward-looking statements contained in this release.


Contact:
Ms. Sanja Schultz-Szabo (Head of Corporate Development)


02.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Varengold Bank AG
Große Elbstraße 14
22767 Hamburg
Germany
Phone: +49 (0)40 / 668649-0
Fax: +49 (0)40 / 668649-49
E-mail: [email protected]
Internet: www.varengold.de
ISIN: DE0005479307
WKN: 547930
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Stuttgart
EQS News ID: 851137

 
End of News DGAP News Service

851137  02.08.2019 

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 13,15 20,16 19,88 24,42 51,39 0,00 0,00
EBITDA1,2 0,56 2,28 3,59 1,86 21,40 0,00 0,00
EBITDA-Marge3 4,26 11,31 18,06 7,62 41,64 0,00
EBIT1,4 0,55 2,28 3,59 1,86 21,40 0,00 0,00
EBIT-Marge5 4,18 11,31 18,06 7,62 41,64 0,00 0,00
Jahresüberschuss1 0,02 0,52 1,62 1,72 17,17 20,00 0,00
Netto-Marge6 0,15 2,58 8,15 7,04 33,41 0,00 0,00
Cashflow1,7 0,20 0,52 2,55 9,12 17,28 0,00 0,00
Ergebnis je Aktie8 0,01 0,06 0,17 0,17 1,71 1,45 1,80
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2021 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

INVESTOR-INFORMATIONEN
©boersengefluester.de
Varengold Bank
WKN Kurs in € Einschätzung Börsenwert in Mio. €
547930 3,100 31,13
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
7,75 10,08 0,80 -4,68
KBV KCV KUV EV/EBITDA
0,56 1,80 0,61 15,57
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,00 0,00 0,00 24.08.2022
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
28.04.2023 30.09.2024 - 28.06.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
1,54% 14,86% 0,65% -50,79%
    
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Finanzdienstleistungen , 547930 , VG8 , XETR:VG8