DF Deutsche Forfait AG announced consolidated earnings results for the full year of fiscal 2017. For the period, the consolidated gross result improved to negative EUR 1.4 million, up from negative EUR 8.9 million in the previous year. It was mainly influenced by the changes in creditor assets, which are used to satisfy the old creditors under the 2016 insolvency plan. The consolidated net loss amounted to EUR 2.7 million. In the previous year, the company had posted consolidated net income of EUR 31.4 million, which, however, mainly reflected the creditors' debt waiver in the context of the insolvency proceedings. Business volume amounted to EUR 23.5 million in the reporting period, compared to EUR 5.4 million in the previous year, which comprised the two short financial years 2016 I and II. In the financial year 2017, the business volume was composed of EUR 6.4 million from forfaiting transactions, EUR 16.7 million from debt collection and EUR 0.4 million from purchase commitments. While the business volume exceeded the previous year, it fell short of the company's original expectations. This was due to a lower-than-expected trading volume with the main target market, Iran, time shifts in large-scale brokerage transactions and the restructuring of the sales organization.

The company is cautiously optimistic about the full year 2018. The expansion of the local presence and the network in the Near and Middle Eastern target market has led to a large number of business inquiries. The company assumes that these initiations and the closing of several large-scale brokerage transactions will result in a substantial business volume in the full year 2018. Against this background, the Group targets a business volume of between EUR 400 million and EUR 500 million, depending on market opportunities, as well as a balanced result.