Stock culture

EANS-Adhoc: S&R Biogas Energiesysteme AG Resolution – first supervisory board meeting after the new appointment of the supervisory board of S&R Biogas Energiesysteme AG
EANS-Adhoc: S&R Biogas Energiesysteme AG Resolution – first supervisory board meeting after the new appointment of the supervisory board of S&R Biogas Energiesysteme AG

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Ad hoc announcement according to Section 15 WpHG transmitted by euro adhoc with the aim of distribution across Europe. The issuer is responsible for the content.
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10.08.2011

Moosburg, August 10, 2011 – The supervisory board of S&R Biogas Energiesysteme AG announces that the Munich registration court has issued registration decisions for all three members regarding the judicial appointment of the supervisory board members.

The new supervisory board members Mr. Frank Mehlfeld, Mr. Herbert Peter and Mr. Oliver Martin decided on the internal distribution of mandates. Mr Oliver Martin was elected as chairman of the supervisory board and Mr Herbert Peter was elected as deputy chairman.

The now new chairman of the supervisory board, lawyer Oliver Martin, was granted permission, in coordination with the responsible bar association, to represent the company as a lawyer in the future in addition to his mandate as chairman of the supervisory board.

The following resolutions were also submitted:

TOP 1 Relocation of the headquarters: It was decided that the company’s headquarters would be relocated to Leipzig. In connection with this, the tax office will be changed from Freising to Leipzig.

TOP 2 Name change: The company name of S&R Biogas Energiesysteme AG will be changed to “S&O agrar AG” – Saxon & Oldenburgische agrar Aktiengesellschaft, which is possible after consultation with the Leipzig Chamber of Industry and Commerce, which will soon be responsible.

TOP 3 Subject expansion: A new additional corporate object is the operation of agricultural businesses, in particular businesses for the production of meat products/energy production, as well as all the necessary service and trading transactions with agricultural products, the acquisition and marketing of agricultural businesses.

TOP 4 stock exchange segment: The Supervisory Board is continuing to examine a segment change from the General Standard to the Entry Standard of the open market of the Frankfurt Stock Exchange. In view of the size of the company and the turnover in shares of the company, the Supervisory Board considers it to be appropriate for the shares to be admitted to the open market. In the company’s opinion, the Entry Standard is an ideal market segment for establishing a reasonable cost-benefit ratio of the stock exchange listing in relation to the market capitalization and the legitimate transparency interests of the shareholders.

End of ad hoc announcement ========================================== ======= ============ .

Inquiry note: S&R BIOGAS ENERGIESYSTEMEN AG board member Svetlana Brake

End of the announcement euro adhoc

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Issuer: S&R Biogas Energiesysteme AG Degernpoint H2 D-85368 Moosburg ad Isar Email: Svetlana.Brake@ewetel.net WWW: Industry: Energy ISIN: DE0005236202 Indices: CDAX Exchanges: Free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, Regulated Market/General Standard: Frankfurt Language: German

ISIN DE0005236202

AXC0156 2011-08-10/11:32

© 2011 dpa-AFX

The largest US bank, JPMorgan Chase, made an impressive profit in the most recent quarter despite billions in provisions for bad loans. With a net profit of $12.9 billion, the financial institution significantly exceeded analysts’ expectations. This success is also reflected in the share price, which was quoted at EUR 202.88 on October 12th, representing an impressive annual performance of 47.38 percent.

Dividend yield and outlook

For the 2024 financial year, JPMorgan is planning a dividend of 4.733 euros per share, which corresponds to a yield of 2.32 percent. Despite the positive quarterly report, CEO Jamie Dimon is cautious about the future, pointing to possible challenges in the volatile financial market.

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Under Kay Wolf, Deutsche Pfandbriefbank is aiming for a sustainable realignment by reducing the office share in the loan portfolio and concentrating on profitable segments.

The Deutsche Pfandbriefbank (pbb) is reacting drastically to the past year of crisis under its new boss Kay Wolf. By 2027, the share of offices in the loan portfolio is expected to fall significantly, while financing for data centers, hotels and residential complexes for seniors will be massively expanded. At the same time, the bank is curbing its loss-making US business and reducing its dependence on interest income, which means the previous medium-term profit target of its predecessor Andreas Arndt will be lost.

These strategic changes hit the stock market hard on Thursday morning: the pbb share temporarily lost almost seven percent and closed at 5.69 euros, which corresponds to a decline of around eight percent since the beginning of the year. In February the price had already fallen to under four euros, and today the share is only trading at half the price it was five years ago.

Kay Wolf announced at the Capital Markets Day that the pre-tax profit of 300 million euros should not be achieved by 2027, although his predecessor Arndt had already set this goal for 2026. Last year, the bank suffered significant loan defaults due to the collapse of the commercial real estate market, particularly in the United States.

In order to make Deutsche Pfandbriefbank safer and more profitable, the share of office financing will be reduced from over 50 to under 40 percent of the loan portfolio. Loans for apartment buildings should be less of a focus, while the focus remains on retail and logistics. Wolf relies more heavily on loans for data centers, residential complexes for seniors, assisted living and hotels, which are viewed as more profitable and faster growing. “We already have the necessary specialist knowledge in-house,” emphasized Wolf.

Another focus is on reducing US business from 15 to less than 10 percent of the loan volume, with a focus on the East Coast. Existing loans on the West Coast should be reduced in a value-preserving manner without the prospect of an emergency sale. The bank also wants to expand its commission business by managing real estate loans for investors. This should account for around ten percent of the bank’s total income by 2027.

CFO Marcus Schulte expects a pre-tax profit of over 200 million euros by 2027, but less than 300 million euros. At the same time, the return on tangible equity should increase from less than three to around eight percent. Cost reductions totaling 45 million euros and further savings in the double-digit million range should bring the cost-income ratio below 45 percent.

In addition, Deutsche Pfandbriefbank announced an increase in the dividend to 90 cents per share for 2024 and share buybacks of up to two billion euros for 2025. These measures are intended to provide shareholders with added value and ensure the bank’s financial stability.

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