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Last $37.90 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 4:30 PM 01/26/15 All times are local (Market data is delayed by at least 15 minutes).

aareal bank ag (AAALF) Key Developments

Aareal Bank AG Proposes Dividend for the Year 2014

Aareal Bank AG proposed dividend of will propose a 60% increase in the dividend from EUR 0.75 to EUR 1.20 per share for the year 2014 to the AGM of the company, which will be held on 20 May 2015.

Aareal Bank Group Announces Audited Consolidated Financial Results for the Year 2014; Affirms Earnings Guidance for the Year 2015

Aareal Bank Group announced audited consolidated financial results for the year 2014. For the year, the company’s consolidated operating profit was EUR 436 million, and therefore more than double the previous year's level (2013: EUR 198 million). This marked rise can be attributed to a strong operational performance, as well as a positive non-recurring effect in the amount of EUR 154 million from the acquisition of COREALCREDIT BANK AG. Adjusted for this effect, consolidated operating profit amounted to EUR 282 million, in line with the preliminary figures communicated during the annual press conference on 25 February 2015. Moreover, the company affirmed earnings guidance for the year 2015. Overall, the bank sees good opportunities, including the positive non-recurring effect from the acquisition of WestImmo announced on 22 February 2015, to achieve consolidated operating profit of between EUR 400 million and EUR 430 million for the current year. This non-recurring effect is expected to be approximately EUR 150 million.

Aareal Bank Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Consolidated Earnings Guidance for the Year 2015

Aareal Bank announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company’s net profit rose to EUR 35 million from a profit of EUR 27 million in the prior-year period, mainly due to an increase in net interest income. Net interest income climbed to EUR 194 million from EUR 147 million a year ago. The company generated consolidated operating profit of EUR 86 million against EUR 58 million a year ago, making the last quarter of 2014 by far the group's strongest quarter ever, in terms of operating profit. Net commission income remained at EUR 48 million, stable year-on-year, and EUR 11 million higher than in the previous quarter of EUR 37 million, due to the fact that Aareon traditionally enjoys a strong fourth quarter of the year. Net income attributable to shareholders of Aareal Bank amounted to EUR 42 million. For the year, the company reported that operating profit more than doubled over the previous year, from EUR 198 million to EUR 436 million. The considerable rise in consolidated operating profit was partly due to a positive non-recurring effect resulting from the acquisition of COREALCREDIT BANK AG (Corealcredit), closed on March 31, 2014. This effect slightly increased at the year-end, from EUR 152 million to EUR 154 million, due to measurement effects. Adjusted for this effect, consolidated operating profit amounted to EUR 282 million - a rise of approximately 40% on the previous year. Consolidated net income more than tripled to EUR 294 million for the year as a whole against EUR 93 million a year ago. The main driver for the positive trend in operating result was yet another strong increase in net interest income. Net interest income was EUR 688 million, after EUR 527 million in 2013. Unexpectedly high income from early loan repayments had a positive effect, as did low funding costs, a marked increase in lending volume and stable lending margins. However, net interest income was burdened by a lack of attractive investment opportunities for the liquidity reserves, due to the persistent low interest rate environment. Net commission income was virtually unchanged on the previous year, at EUR 164 million against EUR 165 million a year ago. The company provided consolidated earnings guidance for the year 2015. Looking ahead, the company expects the market to remain very demanding throughout 2015. It targets a consolidated operating profit of between EUR 400 million and EUR 430 million this year, compared with a profit of EUR 436 million in 2014. Given a higher lending volume compared to 2014, also due to the acquisition of WestImmo, net interest income is projected in a range between EUR 720 million to EUR 760 million, in spite of an expected lower volume of early loan repayments and declining margins on new business. Net commission income is projected to be in a range between EUR 170 million and EUR 180 million. The Bank expects RoE before taxes to be around 16 per cent, and earnings per share between EUR 4.80 and EUR 5.20 based on an assumed tax ratio of 31.4 per cent. Adjusted for non-recurring income from the acquisition of WestImmo, Aareal Bank expects RoE before taxes of around 10 per cent, with EPS in a range between EUR 2.30 and EUR 2.70.

Aareal Bank AG, 2014 Earnings Call, Mar 27, 2015

Aareal Bank AG, 2014 Earnings Call, Mar 27, 2015

Aareal Bank AG Presents at 8th Annual Global Covered Bonds Conference 2015, Mar-06-2015 11:15 AM

Aareal Bank AG Presents at 8th Annual Global Covered Bonds Conference 2015, Mar-06-2015 11:15 AM. Venue: London, United Kingdom. Speakers: Tobias Engel, Head of Capital Markets.

 

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AAALF

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Price/Earnings 7.3x
Price/Sales 3.0x
Price/Book 0.9x
Price/Cash Flow 6.8x
TEV/Sales NM Not Meaningful
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