Leonardo Venture GmbH & Co. KGaA

euro adhoc: Leonardo Venture GmbH & Co. KGaA
Financial Figures/Balance Sheet / Leonardo Venture reports positive results - Mannheim-based early-stage financier banking on expansion

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Venture Capital/Investments


Leonardo Venture GmbH & Co. KGaA today published its provisional, unaudited results for 2007. The figures show that the company posted a profit per IFRS standards for the elapsed financial year of EUR 3.5 million, following a profit of EUR 5.2 million per IFRS for 2006. The published profit is largely based on the pleasing operational development of the investment portfolio, which entailed a revaluation of the portfolio companies. Outstanding here was the investment in VRmagic, which was valued at fair value. A valuation report by a public auditor underlined the associated realization of hidden reserves. The balance sheet total of Leonardo Venture increased through the revaluation and the capital increase by approx. 64% to EUR 48.4 million; the equity ratio amounts to approx. 99 %.

According to German Commercial Code (HGB) accounting standards, however, the company reported a loss of EUR 3.5 million. This is because the legal steps necessary at VRmagic could not be totally finalized during 2007. Under HGB reporting standards, this transaction thus only falls under the current 2008 financial year.

"The stock market is not honouring our asset values", comments Prof. Udo Wupperfeld, Managing Director of Leonardo Venture Capital GmbH, looking at the approx. 50% discount on the NAV of EUR 3.85. "We want to reduce that discount in 2008 and we are presently working on realizing various exits for that purpose."

In addition, Leonardo Venture is planning to expand its portfolio still further. Hand-in-hand with the successful capital increase carried out in October last year, the company switched to the Prime Standard on the Frankfurt securities exchange. "That step brought two decisive advantages", explains Prof. Hans-Georg Köglmayr, Managing Director of Leonardo Venture Capital GmbH. "On the one hand we have the chance of better perception on the capital market. And on the other hand we will use the funds available to us to augment our portfolio by acquiring further promising companies."

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ots Originaltext: Leonardo Venture GmbH & Co. KGaA
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Sandra Schwarz
phone: +49 (0)621-8337515
E-Mail: schwarz@leonardoventure.de

Branche: Financial & Business Services
ISIN:      DE0005878763
WKN:        587876
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade

Weitere Meldungen: Leonardo Venture GmbH & Co. KGaA

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