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MarketScreener Homepage  >  Equities  >  Xetra  >  Comdirect bank AG    COM   DE0005428007

COMDIRECT BANK AG

(COM)
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comdirect bank : raises earnings target 2019

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10/08/2019 | 06:40am EST

DGAP-News: comdirect bank AG / Key word(s): Change in Forecast
comdirect raises earnings target 2019

08.10.2019 / 12:35
The issuer is solely responsible for the content of this announcement.


comdirect raises earnings target 2019

  • Expectation for the full year increased to more than EUR185m before tax (previous expectation: more than EUR170m)
  • The reason is a significant increase in core business profit in the third quarter of 2019

Quickborn, 8 October 2019. comdirect bank AG anticipates a pre-tax profit of approximately EUR175m based on preliminary numbers for the first nine months of 2019. Therefore, the expected group pre-tax profit for the full year improves to more than EUR185m (previous expectation: more than EUR170m before tax).

The reason for the adjustment of the expectation is the strong preliminary pre-tax profit from continuing activities (core business without ebase) of approximately EUR30m in the third quarter of 2019. As a result of increased total income and decreased administrative expenses, the operating profit was significantly higher than in previous quarters. In addition, a higher result from discontinued activities (ebase) was achieved. "Since the announced sale of ebase in mid-2018, we have invested even more in growth and scaling our business model. This is now reflected in a significantly improved result in the third quarter", says Arno Walter, CEO of comdirect bank AG. "Customer growth also remained at a high level with 46k new customers in the third quarter. As of the end of September comdirect has 2.7m customers."

Details regarding the comdirect monthly figures published today can be found in a separate press release from 8 October and at www.comdirect.de/presse.

Contacts for this press release
Ullrike Hamer
Tel. +49 (0)41 06 704 1545
Email: ullrike.hamer@comdirect.de

Information for editorial teams
All our press releases are available at www.comdirect.de/presse

Follow us on Twitter at https://twitter.com/comdirect or https://twitter.com/Arno_Walter

If you no longer wish to be sent information, please let us know by writing to presse@comdirect.de



08.10.2019 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: comdirect bank AG
Pascalkehre 15
25451 Quickborn
Germany
Phone: + 49 (0) 4106/704-0
Fax: + 49 (0) 4106/708-2580
E-mail: ir@comdirect.de
Internet: www.comdirect.de
ISIN: DE0005428007
WKN: 542800
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 886969

 
End of News DGAP News Service

886969  08.10.2019 

fncls.ssp?fn=show_t_gif&application_id=886969&application_name=news&site_id=zonebourse

© EQS 2019
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Sales 2019 356 M
EBIT 2019 75,0 M
Net income 2019 165 M
Debt 2019 -
Yield 2019 1,99%
P/E ratio 2019 11,8x
P/E ratio 2020 29,6x
Capi. / Sales2019 5,49x
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 13,03  €
Last Close Price 13,84  €
Spread / Highest target 1,16%
Spread / Average Target -5,89%
Spread / Lowest Target -16,9%
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Frauke Hegemann Chief Executive & Operating Officer
Jochen Sutor Chairman-Supervisory Board
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