EANS-News: Kommunalkredit Austria AG / Kommunalkredit strengthens capital base for future growth

Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.

Restructuring & Recapitalisation

Vienna -

  • Gesona Beteiligungsverwaltungs GmbH subscribes to shares in capital increase totalling EUR 20m
  • In combination with retained 2018 annual profit: capital base strengthened by EUR 50.4m
  • Existing shareholders support Kommunalkredit growth strategy

(Vienna, 18 June 2019) - Kommunalkredit Austria AG has completed its previously announced capital increase in the amount of EUR 20m. Existing shareholder Gesona Beteiligungsverwaltungs GmbH subscribed to the entirety of the newly issued shares. Combined with the retained 2018 annual profit of EUR 30.4m, this results in a strengthening of the capital base by a total of EUR 50.4m and supports future growth of Kommunalkredit: its underwriting capacity increases and it benefits from economies of scale.

Kommunalkredit CEO Bernd Fislage: "This step is a clear sign from Gesona, who fully supports our strategy. With the strengthened capital, we will continue to vigorously implement our growth strategy. Together with our team, we look forward to seizing the opportunities of today's infrastructure as well as public sector market."

With its entry into the commercial register and the approval by the FMA, total equity of Kommunalkredit Austria AG increases to EUR 340.6m and its core capital to EUR 284.4m (all figures calculated as of 31 May 2019). Kommunalkredit reports a total equity ratio of 22.9 % and a core capital ratio of 19.1%. With the implementation of the capital increase, EUR 20m of the EUR 79.7m in authorised share capital are being called up. Following the capital increase, the authorised share capital will be raised to EUR 86.3m.

Kommunalkredit performed strongly in 2018 and has significantly increased its operative earning power. According to IFRS, the operating result tripled to EUR 23.2m (2017: EUR 7.6m). The bank increased its new business volume by 89.2 %, to EUR 1,201.8m, and its financing volume placed with investors by 52.7 %, to EUR 569.7m. Customer deposits rose by 55.6 %, to EUR 1,002.5m. In addition, with its "first close" on its debt fund, "Fidelio KA Infrastructure Debt Fund Europe 1", the bank successfully established its own infrastructure debt fund platform. Through this platform, Kommunalkredit is able to offer business partners access to infrastructure financing via an asset management solution.

end of announcement euro adhoc

issuer: Kommunalkredit Austria AG
Türkenstraße 9
A-1092 Wien
phone: +43 1 31 6 31
FAX: +43 1 31 6 31 105
mail: info@kommunalkredit.at
WWW: www.kommunalkredit.at
ISIN: -
indexes:
stockmarkets: SIX Swiss Exchange, Luxembourg Stock Exchange, Wien language: English

Digital press kit: http://www.ots.at/pressemappe/409/aom

Rückfragen & Kontakt:

Kommunalkredit Austria AG
Martin Hehemann (Head of Corporate Communications)
Phone: +43 (0)1/31 6 31-532 or +43 (0)664/80 31631 532
m.hehemann@kommunalkredit.at
www.kommunalkredit.at

ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | CNE0002