Lloyd Fonds AG: considerable increase in earnings expected for financial year 2020 - company lifts forecasts for consolidated profit in the 2nd half of 2020 and forecast for consolidated EBITDA in the 2nd half of 2020 and in the 2020 financial year
DGAP-Ad-hoc: Lloyd Fonds Aktiengesellschaft / Key word(s): Forecast/Change in Forecast Public disclosure of inside information pursuant to Article 17 of Regulation (EU) No 596/2014 Lloyd Fonds AG: considerable increase in earnings expected for financial year 2020 - company lifts forecasts for consolidated profit in the 2nd half of 2020 and forecast for consolidated EBITDA in the 2nd half of 2020 and in the 2020 financial year - Management Board lifts forecast following positive FONDS performance - Positive EAT of at least EUR 1.5 million expected for H2 2020 - Positive EBITDA of at least EUR 3.2 million expected for H2 2020 - Positives EBITDA 2020 of at least EUR 1.0 expected
Hamburg, 14 December 2020. Management Board lifts forecast following positive FONDS performance Since its launch on 1 October 2010, the WHC fund has averaged an annual return of more than 9.75 %. With an annual performance at this level and a current volume of around EUR 500 million, the fund can be expected to generate more than EUR 5 million in performance fee p.a. given its hurdle rate of 4 %. The hurdle rate is the return threshold for an actively managed fund that a fund manager has to surpass in order to generate a performance-related fee. The Management Board did not include any performance-related fees in its previous earnings guidance given the Covid-19 situation, and now expects earnings to increase considerably at group level in the 2020 financial year with these fees included. Positive EAT of at least EUR 1.5 million expected for H2 2020 The new forecast would clearly outstrip the guidance published on 26 August 2020, which assumed a break-even result in the second half of 2020. Positive EBITDA of at least EUR 3.2 million expected for H2 2020 and positive EBITDA expected in 2020 with at least EUR 1.0 million Following on from the positive fund performance year-to-date and the assumption of limited fluctuations until year-end, the Management Board expects for the 2020 financial year positive EBITDA of at least EUR 1.0 million overall. Compared with the previous year, in which EBITDA was still negative at EUR -9.7 million, the 2020 forecast for the first time reflects the positive effects resulting from the integration of SPSW Capital GmbH into the Lloyd Fonds group. Important information: THE INFORMATION CONTAINED IN THIS DOCUMENT ARE NOT INTENDED FOR PUBLICATION, IN WHOLE OR IN PART, TO BE PUBLISHED OR DISCLOSED IN, WITHIN OR FROM THE UNITED STATES OF AMERICA OR OTHER COUNTRIES WHERE SUCH A PUBLICATION OR DISCLOSURE WOULD CONSITUTE A BREACH OF APPLICABLE LEGAL PROVISIONS OF THE COUNTRY IN QUESTION. Contact: Hendrik Duncker
14-Dec-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Lloyd Fonds Aktiengesellschaft |
An der Alster 42 | |
20099 Hamburg | |
Germany | |
Phone: | +49 (0)40 32 56 78-0 |
Fax: | +49 (0)40 32 56 78-99 |
E-mail: | info@lloydfonds.de |
Internet: | www.lloydfonds.de |
ISIN: | DE000A12UP29 |
WKN: | A12UP2 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1154937 |
End of Announcement | DGAP News Service |
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1154937 14-Dec-2020 CET/CEST