DGAP-Adhoc: LOGAN CAPITAL AG publishes results for the first half 2013 according to IFRS and change in the Board of Directors
28.08.2013 – 19:02
Logan Capital AG / Key word(s): Half Year Results/Change of Personnel 28.08.2013 19:00 Release of an ad hoc announcement pursuant to Art. 18 KR --------------------------------------------------------------------------- CORPORATE NEWS LOGAN CAPITAL AG publishes results for the first half 2013 according to IFRS and change in the Board of Directors - Earnings before tax (EBT) amount to EUR 1.7m (First Half 2012: EUR -0.4m) - NAV per share amounts to EUR 0.28 at a share base of 103.2m (31 December 2012: NAV of EUR 0.26 per share) - Stefan Feulner resigned from the Board of Directors St. Gallen, 28 August 2013 - Today, the listed investment company LOGAN CAPITAL AG (ISIN: CH0033050961, Ticker: 4MS, www.logan-capital.ch) has published its IFRS unaudited figures for the first half of 2013. On 30 June 2013, earnings before interest and taxes (EBIT) and net profit amount to EUR 1.6m (previous year: EUR -0.6m) and EUR 1.7m respectively (previous year: EUR -0.4m). Write-ups of financial assets amounted to EUR 1.9m (not including earnings from interest) and financial expenses amounted to EUR -0.1m, resulting in a financial result of EUR 1.8m (previous year: EUR -0.2m). One reason for this positive outcome was the development of the listed portfolio companies and the write-ups of individual companies. On the balance sheet, Financial Investments increased slightly to EUR 29.0m (31 December 2012: EUR 27.3m); there is no consolidation since 30 September 2011 with our prior majority stake in Impera Total Return AG. With total balance sheet assets of EUR 29.7m, the equity to assets ratio amounted to 97% (31 December 2012: EUR 29.0m and 94%). By the end of the first half of 2013, the NAV increased to EUR 0.28 per share while shares outstanding totalled 103.2m (31 December 2012: EUR 0.26). Our share is thus still traded at a relatively high discount of just under 50% to the company's intrinsic value. Cash and Cash Equivalents on 30 June 2013 amounted to EUR 0.2m (31 December 2012: EUR 0.4m). Stefan Feulner has resigned as a Member of the Board of Directors of Logan Capital AG. Stefan Feulner was removed from the commercial register of the company on 26 August 2013. The board would like to thank Stefan Feulner for his long-term cooperation. About LOGAN CAPITAL AG LOGAN CAPITAL (www.logan-capital.ch) is a public Swiss investment company based in St. Gallen, Switzerland. The company acts in the market place as an 'institutional business angel investor'. The focus of investments is based predominantly in German speaking countries, in all industry sectors, especially in earlystage financing, special situations and pre-IPO transactions. LOGAN CAPITAL AG shares are traded under SIC 4MS (ISIN: CH0033050961) on the Open Market of the Frankfurt Stock Exchange and Berne Exchange. Contact Volker Rofalski Tel: +41-44-783 80 30; Fax: +41-44-783 80 40 Internet: www.logan-capital.ch 28.08.2013 News transmitted by EQS Schweiz AG. The issuer is responsible for the contents of the release. EquityStory publishes regulatory releases, media releases on the capital market and press releases. The EquityStory Group distributes authentic and real-time financial news for over 1'300 listed companies. The Swiss news archive can be found at www.equitystory.ch/news --------------------------------------------------------------------------- Language: English Company: Logan Capital AG Poststrasse 17 9000 St. Gallen Switzerland Phone: +41 44 783 80 49 Fax: +41 44 783 80 40 E-mail: ak@mountain-partners.ch Internet: www.logan-capital.ch ISIN: CH0033050961 Valor: A0MYNQ Listed: Freiverkehr in Stuttgart; Frankfurt in Open Market ; BX End of Announcement EQS Group News-Service ---------------------------------------------------------------------------