25.10.2021 Varengold Bank AG  DE0005479307

DGAP-News: Varengold Bank AG achieves another strong result in Q3 2021


DGAP-News: Varengold Bank AG / Key word(s): 9 Month figures/Miscellaneous
Varengold Bank AG achieves another strong result in Q3 2021

25.10.2021 / 12:47
The issuer is solely responsible for the content of this announcement.

  • EBT again significantly higher than in the previous year with conservative risk provisions
  • Net income almost doubled
  • EBT forecast of EUR 16.4 million for 2021 confirmed

Hamburg, 25/10/2021 - Again Varengold Bank AG [ISIN: DE0005479307] comes through Q3 2021 with flying colours. The Hamburg-based financial services provider succeeded in almost doubling its net income to EUR 38.2 million compared with the same period in the previous year (EUR 19.3 million). Varengold Bank was able to make even greater strides in terms of earnings before taxes (EBT) achieving a figure of EUR 12.6 million in the current financial year compared with EBT of EUR 2.9 million in the same period in the previous year. Transaction Banking was again the main driver of growth. Varengold Bank also succeeded in strengthening its position as a partner for lending and fronting services / banking as a service in the Marketplace Banking business area. With a well-filled customer pipeline, the signs are clearly pointing to growth. "Our once again strong quarterly figures are proof that we are in the right strategic position to achieve sustainable growth," says Dr Bernhard Fuhrmann, member of the Management Board of Varengold Bank. "At the same time, during the reporting period, we have invested in digitalisation, in the training and continuing professional development of our employees and in our branches in order to ensure our competitiveness." Administrative expenses (EUR 15.6 million) rose accordingly and were 19% higher than in the same period in the previous year (EUR 13.0 million). Varengold Bank also acted prudently during the reporting period regarding the pandemic and its consequences and continued its conservative approach in terms of risk provisions. The very successful overall performance confirms the forecast of earnings before tax of EUR 16.4 million for the 2021 financial year.

Like so many other things these days, the Bank's Ordinary General Meeting was held as a virtual event on 29 September. The Management Board did not miss the opportunity the meeting presented to take the audience on a virtual tour through the new business premises and to explain the New Work concept of Varengold Bank. Dr Fuhrmann said: "The world of work is changing. Companies need a modern work ethos in which things like cultural change, new management behaviour and increased personal responsibility of employees play a central role. With our forward-thinking New Work concept and our office spaces designed for collaborative working, we will use the opportunities that this change presents."
At the end of Q3, Varengold Bank had 105 employees (reporting date 30/9/2020: 87 employees).

About Varengold Bank AG
Varengold Bank is a German financial institution founded in 1995 and granted a full banking licence in 2013. In addition to its head office in Hamburg, the bank has presences in London and Sofia. Core business areas are Marketplace Banking and Commercial Banking. Within Marketplace Banking, the focus is on the cooperation with European fintechs, especially lending platforms. Varengold Bank's service portfolio includes Funding, Debt and Equity Capital Markets products, Fronting Services for products subject to banking licence requirements and International Payment Services. Varengold Bank is registered with the Federal Financial Supervisory Authority (BaFin) under no. 109 520 and its shares (ISIN: DE0005479307) have been listed on the Open Market of the Frankfurt Stock Exchange since 2007. For more information, see www.varengold.de.

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.

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

25.10.2021 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 39
22767 Hamburg
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), Munich, Stuttgart
EQS News ID: 1243215

End of News DGAP News Service

1243215  25.10.2021 


Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022
Umsatzerlöse1 14,68 13,15 20,16 19,88 24,42 51,39 0,00
EBITDA1,2 -2,20 0,56 2,28 3,59 1,86 21,40 0,00
EBITDA-Marge3 -14,99 4,26 11,31 18,06 7,62 41,64 0,00
EBIT1,4 -2,52 0,55 2,28 3,59 1,86 21,40 0,00
EBIT-Marge5 -17,17 4,18 11,31 18,06 7,62 41,64 0,00
Jahresüberschuss1 -1,49 0,02 0,52 1,62 1,72 17,17 20,00
Netto-Marge6 -10,15 0,15 2,58 8,15 7,04 33,41 0,00
Cashflow1,7 -1,49 0,20 0,52 2,55 9,12 17,28 0,00
Ergebnis je Aktie8 -0,51 0,01 0,06 0,17 0,17 1,71 1,45
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

Varengold Bank
WKN Kurs in € Einschätzung Börsenwert in Mio. €
547930 3,040 30,53
KGV 2024e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
8,69 10,31 0,84 -4,41
0,55 1,77 0,59 15,27
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
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
14,85% -26,52% -46,67% -27,62%
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Finanzdienstleistungen , 547930 , VG8 , XETR:VG8