Varengold Bank AG raises forecast for the 2021 financial year again


Varengold Bank AG / Key word(s): Change in Forecast/Forecast
Varengold Bank AG raises forecast for the 2021 financial year again

14-Dec-2021 / 16:26 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Hamburg, 14 December 2021 - Due to the once again very good business performance in the fourth quarter of 2021 in connection with a risk provisioning below expectations, Varengold Bank AG (symbol: VG8) is currently expecting earnings before taxes (EBT*) as a key performance indicator of between EUR 21 million and EUR 22 million for the 2021 financial year. Previously, the Bank forecasted EBT of EUR 16.4 million for the current financial year.

Based on the development of earnings in 2021, the Management Board has deduced an initial forecast and expects EBT at a comparable level in the coming 2022 financial year.

Dr. Bernhard Fuhrmann
Management Board

Frank Otten
Management Board

* EBT (earnings before taxes) is defined as period result before deduction of income taxes.


This release contains forward-looking statements that involve certain risks and uncertainties. Future results may differ materially from those currently anticipated due to various risk factors and uncertainties, such as changes in business, economic and competitive conditions, currency exchange rate fluctuations, litigation uncertainties or investigations, and availability of financial resources. Varengold Bank AG assumes no responsibility for updating the forward-looking statements contained in this release.

Ms. Sanja Schultz-Szabo (Head of Corporate Development)

14-Dec-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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