Landwirtschaftliche Rentenbank, a promotional bank for the agricultural sector, provides low-interest loans for various agriculture-related investments, including renewable energies. The company provides refinancing for various projects associated with agriculture or rural areas within the European Union. It focuses on grants standard promotional loans, as well as special promotional loans at particularly favorable interest rates for agribusiness and rural areas. The company provides its products to production enterprises in the agricultural, forestry, viticulture, and horticulture sectors; manufacturers of agricultural investment goods; and trade and service companies related to agriculture...
Frankfurt am Main, 60313
Founded in 1949
Landwirtschaftliche Rentenbank Reports Consolidated Earnings Results for the Year 2013
Apr 28 14
Landwirtschaftliche Rentenbank reported consolidated earnings results for the year 2013. The company reported operating result before provision for loan losses and valuation as reported under HGB in 2013 decreased to EUR 248.7 million compared to the previous year of EUR 303.7 million. The decline was largely attributable to the decline in net interest income, but also to higher administrative expenses due to increased regulatory requirements. Net income increased to EUR 53.0 million compared to EUR 51.0 million a year ago. The distributable profit remaining after transfers to reserves amounted to EUR 13.3 million compared to EUR 12.8 million a year ago.
Landwirtschaftliche Rentenbank to Report Fiscal Year 2013 Results on Apr 28, 2014
Apr 11 14
Landwirtschaftliche Rentenbank announced that they will report fiscal year 2013 results on Apr 28, 2014
Landwirtschaftliche Rentenbank Announces Unaudited Unconsolidated and Consolidated Earnings Results for the Six Months Ended June 30, 2013; Provides Financial Guidance for the Full Year of Fiscal 2013
Aug 29 13
Landwirtschaftliche Rentenbank announced unaudited unconsolidated and consolidated earnings results for the six months ended June 30, 2013. For the period, on unconsolidated basis, the company reported interest income of EUR 1,173.6 million compared to EUR 1,432.1 million a year ago. Net interest income was EUR 156.2 million compared to EUR 183.7 million a year ago. Operating result before provision for loan losses and valuation was EUR 129.6 million compared to EUR 160.5 million a year ago. Interim net income was EUR 131.9 million compared to EUR 171.7 million a year ago. The decline in net interest income was partly due to higher provisions for the interest subsidy related to special promotional loans.
For the period, on consolidated basis, the company reported interest income of EUR 1,899.9 million compared to EUR 1,988.5 million a year ago. Net interest income was EUR 170.6 million compared to EUR 189.7 million a year ago. Net interest income after provision for loan losses/promotional contribution was EUR 155.6 million compared to EUR 176.7 million a year ago. Group's interim net income was EUR 196.6 million compared to EUR 190.7 million a year ago. Cash flow used in operating activities was EUR 1,612.4 million compared to EUR 2,826.3 million a year ago. Operating result before profit and loss from fair value measurement and hedge accounting was EUR 128.2 million compared to EUR 156.8 million for the same period a year ago. Total comprehensive income amounted to EUR 346.1 million as of June 30, 2013, which is below the prior-year figure of EUR 468.4 million. This decline was attributable to the lower operating result, but primarily to the lower measurement gains.
Based on current projections, the operating results for the current fiscal year will be below those of 2012 but exceed the pre-crisis level of EUR 146 million in fiscal year 2007. The company currently expect to meet the annual operating plan.