Landwirtschaftliche Rentenbank, a promotional bank for the agricultural sector, provides loans at reduced rates of interest 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 offers standard promotional loans for agriculture and rural areas; and special loans for promotional purposes and assistance measures through other banks. 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 t...
Frankfurt am Main, 60313
Founded in 1949
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.
Landwirtschaftliche Rentenbank to Report Q2, 2013 Results on Aug 28, 2013
Jul 31 13
Landwirtschaftliche Rentenbank announced that they will report Q2, 2013 results on Aug 28, 2013
Landwirtschaftliche Rentenbank to Report Fiscal Year 2012 Results on Apr 22, 2013
Mar 20 13
Landwirtschaftliche Rentenbank announced that they will report fiscal year 2012 results on Apr 22, 2013