November 14, 2013
DVB Group post consolidated net income before taxes of €96.2m
DVB Bank SE published its results for the first nine months of 2013. DVB continued to successfully provide financing solutions and advisory services to its clients in the international transport sector during the first nine months of 2013, despite the prevailing difficult situation in individual submarkets of international maritime shipping. Consolidated net income before taxes of €96.2m was 7.8% lower than in the previous year (9 months 2012: €104.3m). The year-on-year change was due to a non-recurring effect in the previous year; namely, the sale of a stake in British aero engine specialist TES Holdings Ltd.