November 25, 2009
Commerzbank: Revenue and earnings targets of "Roadmap 2012" reaffirmed
- Blessing: "We are progressing well and implementing our strategy consistently"
At today's Investors' Day, Commerzbank reaffirmed its targets for 2012. "We are progressing well and the 'Roadmap 2012' targets remain unchanged," said Martin Blessing, Chairman of the Board of Managing Directors of Commerzbank. "We are implementing our strategy consistently and in some areas more quickly than originally planned. This is also a response to the challenges of the financial market crisis."
In 2009, crisis-related charges (loan loss provisions and portfolio impairments) are expected to be considerably lower than planned. There have, however, been some shifts between the items, also as a consequence of setting up the Portfolio Restructuring Unit. "In 2010 we will continue to see charges from the financial market crisis, but these will decrease further. For 2012 we expect loan loss provisions of some EUR 2 billion," said Stefan Schmittmann, Member of Commerzbank's Board of Managing Directors and responsible for risk management.
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Gross revenues in 2012 are set to be just below EUR 14 billion; total costs are expected to be below EUR 8 billion. This gives us the basis for an operating result of more than EUR 4 billion and thus for an after-tax return in excess of 12%" said Eric Strutz, Member of the Board of Managing Directors of Commerzbank and CFO.
Commerzbank expects cost synergies of some EUR 2.4 billion per annum from the Dresdner Bank take-over, i.e. EUR 500 million p.a. in excess of what was originally planned. These cost synergies will be effective in full from 2013 onwards. The reasons for this are further savings in processing, office costs, and economies of scale in procurement. Additionally, the greater focus already applied in the capital market-related areas contributes to this.
As a result, one-off charges from the realisation of the synergies will increase by some EUR 500 million. "We invest EUR 500 million once and save an additional EUR 500 million year by year. A worthwhile investment", said Strutz. The costs of the integration total some EUR 2.5 billion.
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CMQ la perdita dei primi 9 mesi 2009 era a EUR 1,055 bn
https://www.commerzbank.de/en/hauptn...l_09_2651.html
Il consensus medio degli analisti (pubblicato sul sito COBA) è:
- per il 2009: perdita di 1,2 bln
- per il 2010: perdita di 3,9 bln
- per il 2011: perdita di 0,43 bln
- per il 2012: dicono che torneranno in utile
https://www.commerzbank.com/en/haupt...etzungen_.html
Discussioni simili
. Parlo per me, Reef, Bos e qualcun altro. Nel 2009 ci siamo progressivamente spostati dall'azionario alle Perpetue (non finirò mai di ringrazie il Negus e gli altri amici del 3d
). Adesso le P hanno quasi raddoppiato da giugno 2009, mentre le azioni sono quasi tornate a livelli di giugno/luglio 2009. 
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