DEUTSCHE PFANDBRIEFBANK AG (FRA:NUE4) Deutsche Pfandbriefbank AG: Due to expected sound performance over the first six months of this year, pbb raises 2018 full-year guidance for pre-tax profit to EUR175-195 million

Transparency directive : regulatory news

04/07/2018 16:50

DGAP-Ad-hoc: Deutsche Pfandbriefbank AG / Key word(s): Change in Forecast/Half Year Results
Deutsche Pfandbriefbank AG: Due to expected sound performance over the first six months of this year, pbb raises 2018 full-year guidance for pre-tax profit to EUR175-195 million

04-Jul-2018 / 16:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Due to expected sound performance over the first six months of this year, pbb raises 2018 full-year guidance for pre-tax profit to EUR175-195 million

Munich, 4 July 2018 - As the first half of the year is expected to show sound performance, the Management Board of Deutsche Pfandbriefbank AG (pbb) has today raised its original expectations for 2018 consolidated full-year pre-tax profit (IFRS) of between EUR150 million and EUR170 million to between EUR175 million and EUR195 million. The new guidance includes, as planned, increased pressure on net interest income as well as an increase in general and administrative expenses; furthermore, it continues to factor in estimated risk costs for the full year.

pbb expects profit before taxes in the region of EUR120 million for the first half of 2018. For the second quarter of 2018, pbb sees stable net interest income, continued low risk costs and general and administrative expenses on the good previous quarter's level. In addition, a non-recurring effect was recognised from a conditional additional purchase price claim in connection with accepting a buy-back offer for Heta Asset Resolution AG debt securities in 2016.

Compared to the first quarter, new business volume (including extensions of more than one year) rose slightly in the second quarter of 2018. However, due to strong competitive pressure and pbb's selective approach, new business during the first half of the year remained significantly below the previous year's level.


Contact:
Walter Allwicher
Head of Communications
+49 (0) 89 2880 28 787


04-Jul-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Deutsche Pfandbriefbank AG
Freisinger Strasse 5
85716 Unterschleissheim
Germany
Phone: +49 (0) 89 2880 28 201
Fax: +49 (0) 89 2880 22 28 201
E-mail: info@pfandbriefbank.com
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

 
End of Announcement DGAP News Service

700731  04-Jul-2018 CET/CEST

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