PresseBox
Press release BoxID: 263653 (C-QUADRAT Investment AG)
  • C-QUADRAT Investment AG
  • Schottenfeldgasse 20
  • 1070 Wien
  • http://www.c-quadrat.at
  • Contact person
  • Andreas Wimmer
  • +43 (1) 51566-316

C-QUADRAT Investment AG: Results for the 1st quarter of 2009

(PresseBox) (Vienna / Frankfurt, ) C-QUADRAT Investment AG (ISIN AT0000613005) ended the first quarter with a gross income of EUR 6.4 million (Q1 2008: EUR 9.9 million), an EBT of EUR - 0.2 million (Q1 2008: EUR 2.3 million), and a net result of EUR - 0.2 million (Q1 2008: EUR 1.9 million). In the 1st quarter of 2009, total income from performance fees fell by EUR 0.121 million (- 95.8%) to EUR 0.005 million (Q1 2008: EUR 0.126 million). The sale of the Absolute Plus Group at the end of 2008 resulted in a discontinuation of income from this business segment in the amount of EUR 1.9 million, and in a reduction of depreciation and impairment losses by EUR 0.4 million. At the same time, contrary to the prevailing trend in the industry, management fee income remained essentially stable due to increased volume in the Asset Management segment (Q1 2009: EUR 4.6 million, Q1 2008: EUR 4.9 million). At EUR 1.6 million, personnel expenses were 17.5% lower than in the corresponding quarter of the previous year (EUR 1.9 million). Remaining expenses were 21% lower than in the previous year (Q1 2009: EUR 1.3 million, Q1 2008: EUR 1.7 million).

On the subject of C-QUADRAT's quarterly results, Alexander Schütz, one of the founders and a Director of C-QUADRAT, stated: "The company has undergone a consolidation process which was completed by the end of the 1st quarter. The implemented cost-saving programmes are bearing fruit. Despite the negative market environment, we have continued to invest in sales and marketing so that our growth in the future will be supported by an even broader base."

C-QUADRAT Investment AG's Quarterly Report is available for immediate download at www.c-quadrat.at/ under Investor Relations.

C-QUADRAT Investment AG

C-QUADRAT- the fund company - is an independent asset manager operating across Europe. Founded in 1991, the company has had is own asset management company with a bank licence since 2003 and has been listed in the Prime Standard of the Frankfurt Stock Exchange since November 2006 and at the Vienna Stock Exchange since May 2008. The C-QUADRAT team has made a name for itself across Europe with its asset management, analysis and investment fund management activities and by devising structured products. Innovative investment strategies for institutional investors round off the product offering. Many banks, insurance companies and financial service providers operating internationally rely on the expertise of C-QUADRAT.