- FinLab publishes final audited figures for 2015 - earnings per share jump fourfold from EUR 0.36 to EUR 1.44
- IFRS-based annual net results up fourfold to EUR 6.5 million
- IFRS overall results up 46% to EUR 15.4 million
- Positive trend across the whole portfolio
- Outlook for 2016 very positive
Frankfurt am Main, April 25, 2016 - During the previous financial year, FinLab AG ("FinLab", "the company") (ISIN: DE0001218063, WKN: 121806, ticker: A7A.GR) once again delivered very positive growth, exceeding expectations and further solidifying its position as one of the leading investors in the German fintech market. The portfolio was expanded and all holdings are currently showing steady growth. The changeover to International Financial Reporting Standards ("IFRS") was completed successfully, with the IFRS statements for both 2013 and 2014 financial years being published for comparison on FinLab's website.
Under IFRS reporting standards, the annual earnings for FinLab for 2015 were EUR 6.5 million, which represents a fourfold increase over the prior year (EUR 1.6 million). The overall result under IFRS rose by about 46%, with earnings rising from EUR 10.5 million in 2014 to EUR 15.4 million in 2015. This value includes both recurring earnings and the profit shown in the accumulated gains from the revaluation of shares held in Heliad GmbH & Co. KGaA.
At the same time, earnings per share also grew significantly: Year-on-year this value, based on the annual results, also grew fourfold from EUR 0.36 to EUR 1.44 per share. Net Asset Value (NAV) rose on 12/31/2015 to EUR 12.12 per share (prior year: EUR 8.70 per share).
On the basis of HGB (German GAAP) accounting, FinLab AG achieved earnings of EUR 5.2 million for 2015 (prior year: EUR 9.5 million). While the prior year's earnings came mainly from the revaluation of the historic acquisition costs of shares in Heliad Equity Partners GmbH & Co KGaA, the German GAAP surplus for this year came mainly from three sources:
1. Performance-Fees of Heliad Management GmbH accounted for around EUR 2.7 million,
2. Profit on the sale of financial investments came from the sale of financial instruments as part of liquidity management and
3. Disbursements and dividends from Heliad Equity Partners GmbH & Co KGaA (EUR 0.7 million), from Patriarch Multi-Manager GmbH (EUR 0.3 million) as well as from Heliad Management GmbH (EUR 0.7 million).
FinLab board member Juan Rodriguez: "Thanks to the supplementary release of the IFRS figures, we are able to further improve transparency for our shareholders and also open ourselves up to a wider circle of investors, especially overseas. In the financial year just ended, we were not only able to significantly accelerate growth in the value of our portfolio, and therefore of our company as a whole. Parallel to that we were also able to further improve our position as one of the largest incubators for innovative fintech companies in Germany and Europe."
FinLab board member Kai Panitzki adds: "We expect the coming year to also be marked by very positive and vigorous growth. With our wide-ranging expertise, our resources in the area of financial services as well as in venture capital, combined with a strong partner network like our strategic partners FinTech Group, XCOM Group and biw Bank, we are able to offer our portfolio companies an attractive bundle of added value. That's FinLab's unique strength."
In detail, all FinLab portfolio companie showed positive trends across the board for financial year 2015 and the opening months of 2016. What stands out most positively is Deposit Solutions GmbH, the latest investment by FinLab AG. It is expected that the stake taken by Peter Thiel end of last year, one of the best known investors in the world, will serve in particular to provide a sustained positive stimulus going forward. And just a few days ago, Deposit Solutions, which manages an open platform for the European retail deposit market, was able to announce a comprehensive partnership with Deutsche Bank.
All the other holdings - nextmarkets, Venturate, Patriarch and Heliad - also got off to a very good start in 2016. The board therefore expects to end 2016 on a very positive note, with additional further expansion of the investment portfolio.
Kai Panitzki, Board member
Phone: +49 (0) 69 719 12 80 - 0
About FinLab AG:
Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A) is one of the first and largest company builders and investors focused on the Financial Services Technologies ("fintech") sector. FinLab focuses on developing German fintech start-ups and providing venture capital for their financial needs, whereas in each case the aim is a long-term participation and ongoing support of the investment. FinLab also invests globally, as part of venture rounds, in fintech companies, primarily in the USA and Asia.
Tel: +49 69 719 12 80 0
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