Inactive Instrument

comdirect bank AG

Equities

COM

DE0005428007

Comdirect bank : raises earnings target 2019

October 08, 2019 at 06:40 am EDT

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.
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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

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Comdirect Bank AG is a Germany-based online bank. It operates through two segments: Business-to-Customer (B2C) and Business-to-Business (B2B). The B2C business segment mainly covers the retail business, while the B2B business segment covers the business with institutional partners and their customers. The B2C business segment specializes in brokerage, banking and consulting services. It includes comdirect bank AG and the onvista bank business area and its five special funds as well as onvista media GmbH and onvista AG.

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