DGAP-Adhoc: Deutsche Pfandbriefbank AG: pbb withdraws forecast for the 2020 financial year
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DGAP-Ad-hoc: Deutsche Pfandbriefbank AG / Key word(s): Change in Forecast
Against the background of the COVID-19 pandemic, the Management Board of Deutsche Pfandbriefbank AG (pbb) resolved today to withdraw the forecast for the 2020 financial year, as published in the annual report for the 2019 financial year. In particular, the development of risk provisioning and net income from fair value measurement cannot be reliably forecast, due to uncertainty concerning the macroeconomic environment and real estate market developments. pbb will recognise net risk provisions of €-34 million for the first quarter of 2020 (Q1 2019: €-1 million; Q4 2019: €-39 million). Likewise, net income from fair value measurement will be clearly negative, at €-17 million, especially due to widening credit spreads (Q1 2019: €-2 million; Q4 2019: €-5 million). pbb's pre-tax profit for the first quarter of 2020 will thus decline to €2 million (Q1 2019: €48 million; Q4 2019: €29 million; consolidated figures in accordance with IFRS). Excluding the extraordinary burdens caused by the COVID-19 pandemic, pbb would have generated pre-tax profit of €47 million. The Bank will publish an updated forecast as soon as this can be reliably projected.
Contact: Walter Allwicher Managing Director, Communications +49 (0) 89 2880 28 787
04-May-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Deutsche Pfandbriefbank AG |
| Parkring 28 | |
| 85748 Garching | |
| Germany | |
| Phone: | +49 (0) 89 2880 28 201 |
| Fax: | +49 (0) 89 2880 22 28 201 |
| E-mail: | [email protected] |
| Internet: | http://www.pfandbriefbank.com |
| ISIN: | DE0008019001, Die internationalen Wertpapierkennnummern (ISIN) weiterer von der Deutsche Pfandbriefbank AG ausgegebener Finanzinstrumente sind abrufbar auf der Website der Deutsche Pfandbriefbank AG unter https://www.pfandbriefbank.com/investoren/pflichtveroeffentlichungen/ad-hoc-mitteilungen/liste-weiterer-finanzinstrumente.html. The International Securities Identification Numbers (ISINs) of further, financial instruments issued by Deutsche Pfandbriefbank AG are available on Deutsche Pfandbriefbank's Investor Relations website under https://www.pfandbriefbank.com/en/investors/mandatory-publications/ad-hoc-announcements/list-of-further-financial-instruments.html |
| WKN: | 801900 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover; London, Dublin, Mailand, Paris, Luxembourg Stock Exchange, SIX |
| EQS News ID: | 1035537 |
| End of Announcement | DGAP News Service |
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1035537 04-May-2020 CET/CEST
Deutsche Pfandbriefbank AG Stock
€4.51
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