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Bawag Cap FD TR 7,125% - Couponrendement ruim 19,8%

258 Posts
Pagina: 1 2 3 4 5 6 ... 13 »» | Laatste | Omlaag ↓
  1. [verwijderd] 9 augustus 2009 19:17

    Bijgevoegd een overzicht van een aantal obligaties van Bawag. Zoals de lijst weergeeft, staan de koersen om en nabij de nominale waarde (100%).

    In de meeste van deze obligaties heeft op 5 augustus handel plaatsgevonden.

    De koers van Bawag Cap FD TR 7,125% staat echter op E. 8,99. De nominale waarde is E. 25,00. De huidige waardering komt overeen met 35,96% van de nominale waarde.

    Het dividend bedraagt 7,125% over de nominale waarde, dus E. 1,78125. De huidige koers is E. 8,99. Het dividendrendement is dus 19,81%.
  2. [verwijderd] 9 augustus 2009 21:06
    quote:

    Witte Weduwe schreef:

    Oostenrijkse bank, zit nogal in oost europa.
    Deze activiteiten zijn grootendeels verkocht.

    '[...]

    Sale of non-core business activities largely complete

    A central part of the Bank’s new strategy announced in 2007 was the sale of all non-core businesses. Implementation of the strategy was largely completed in 2008 with the sale of the Bank’s subsidiaries in Slovakia and the Czech Republic, as well as the sale of real estate assets. The decision to dispose of the Bank subsidiaries operating in Central and Eastern Europe reflected the desire to concentrate scarce resources on the core Austrian market, as well as a focus on building liquidity and capital. The sale process proved to be both well timed and highly successful. As a consequence, the Bank has reduced its exposure to Central and Eastern Europe to less than 5 per cent of total assets.
    Strong liquidity position

    The turmoil in the global financial markets emphasised the crucial importance of liquidity management. During 2008, BAWAG P.S.K. took further steps to maximise its available liquidity. Total cash and unutilised collateral resources at 31 December 2008 amounted to EUR 6.2 billion. This strong liquidity position represents a source of competitive advantage for the Bank, offering the opportunity to acquire high-margin banking assets that become available in the market, whilst supporting the Bank’s strategy of supporting Austrian retail and commercial customers.

    [...]'
  3. [verwijderd] 9 augustus 2009 21:08
    PREFACE BY THE CHAIRMAN OF THE MANAGING BOARD

    Strong Momentum in the Core Austrian Business despite Turbulent Market Conditions

    In 2008, BAWAG P.S.K. continued to make good progress in executing the multi-year Transformation Programme to improve operational performance and drive profitable growth agreed with the Supervisory Board in 2007. The primary focus for the Bank remains unaltered: to modernise the core Austrian retail and commercial banking business in order to deliver outstanding service to our customers.

    The financial results for 2008 were heavily influenced by two factors: the progress made in improving profitability in the core Austrian business; and the combined net adverse impact arising from the re-structuring of the balance sheet and the reduction in the fair value of the Bank’s financial assets as a consequence of the global financial crisis.

    Underlying pro-forma pre-tax profits for 2008 grew by 82 per cent over the comparable result in 2007, market share gains were recorded in the core retail business, lending and income momentum accelerated in the commercial business, non-core assets were successfully sold and the balance sheet continued to be re-structured in line with the Bank’s reduced risk appetite. The consequence of these actions was a significant growth in the Bank’s liquidity and capital resources that allowed BAWAG P.S.K. to withstand the impact of the global economic crisis.

    Aggressive actions were taken throughout the year to reduce risk. However, the bankruptcy of Lehman Brothers Inc. on 15 September 2008 caused market conditions to worsen dramatically in the fourth quarter of 2008 leading to significant mark-to-market valuation losses arising in the legacy structured credit portfolio. The Bank recorded a consolidated loss after tax of EUR 452 million in the period from September to December 2008, following the dramatic change in market conditions after the bankruptcy of Lehman Brothers. This resulted in a full year loss of EUR 548 million for 2008.
    Underlying pre-tax operating profit up 82 per cent

    Underlying pre-tax profit, excluding the impact of the global financial crisis, grew by 82 per cent. Total underlying income grew by 4 per cent, with particularly strong gains recorded in net interest income, up 13 per cent.

    Performance was particularly strong in the core retail franchise:

    * Customer numbers increased by 10 per cent;
    * Retail savings balances across the Group increased by EUR 1.1 billion, or 8 per cent;
    * Premium income from new insurance contracts rose by EUR 320 million, or 19 per cent;
    * Gains were recorded in market share, client satisfaction and willingness to recommend;
    * easybank sales, balances and income were all at record levels.

    Progress was also evident in the commercial business: lending increased by 11 per cent, notwithstanding higher margins and a difficult environment. This customer segment offers significant potential for future profit growth.

    The Bank took a very defensive stance to deploying liquidity in the second half of 2008. This strategy, whilst prudent given the economic environment, was a drag on earnings in the period as investments were made of very short-term duration in a time when market interest rates were falling rapidly.

    Underlying expenses fell by 3 per cent, after accounting for higher investment in the on-going business. Significant changes were made to the business model, with implementation of a clear separation between front-office sales and service activities, back-office operations and risk management. These changes lay the foundation for future operational, productivity and service improvements. Underlying risk provisions were flat.
    Sale of non-core business activities largely complete

    A central part of the Bank’s new strategy announced in 2007 was the sale of all non-core businesses. Implementation of the strategy was largely completed in 2008 with the sale of the Bank’s subsidiaries in Slovakia and the Czech Republic, as well as the sale of real estate assets. The decision to dispose of the Bank subsidiaries operating in Central and Eastern Europe reflected the desire to concentrate scarce resources on the core Austrian market, as well as a focus on building liquidity and capital. The sale process proved to be both well timed and highly successful. As a consequence, the Bank has reduced its exposure to Central and Eastern Europe to less than 5 per cent of total assets.

    Strong liquidity position

    The turmoil in the global financial markets emphasised the crucial importance of liquidity management. During 2008, BAWAG P.S.K. took further steps to maximise its available liquidity. Total cash and unutilised collateral resources at 31 December 2008 amounted to EUR 6.2 billion. This strong liquidity position represents a source of competitive advantage for the Bank, offering the opportunity to acquire high-margin banking assets that become available in the market, whilst supporting the Bank’s strategy of supporting Austrian retail and commercial customers.
    Continued mark-to-market fair value adjustments and write-downs on financial assets and liabilities, particularly in the structured credit portfolio.
  4. [verwijderd] 12 augustus 2009 11:07
    Uitstekende tip BP5. Voor zover ik dat kan beoordelen blijven alle oostenrrijkse perpen wat achter bij de recente koersstijging. RZB, BA en OVAG. De laatste is niet zo verwonderlijk gezien de matige resultaten, maar de eerste twee laten nog steeds goede cijfers zien. Voor meer tips houd ik mij aanbevolen.
    Nogmaals dank
    PS de laataste dagen goed kunnen inslaan met koersen even boven de 9,00
  5. [verwijderd] 12 augustus 2009 21:37
    quote:

    lookingcharts schreef:

    Beursplein, je kan je naam beter veranderen in "Junkbond-trader". Waarom start je niet je eigen draadje, maak een mooie portefeuille en houd je resultaten bij? Zoiets dat Marique ook doet met aandelen, dan zou ik het zeker wel gaan volgen.
    De couponbetalingen op aandelen Bawag Cap FD TR 7,125% zijn gegarandeerd. Uw commentaar is dus niet van toepassing.
  6. [verwijderd] 13 augustus 2009 10:38
    quote:

    lookingcharts schreef:

    Beursplein, je kan je naam beter veranderen in "Junkbond-trader". Waarom start je niet je eigen draadje, maak een mooie portefeuille en houd je resultaten bij? Zoiets dat Marique ook doet met aandelen, dan zou ik het zeker wel gaan volgen.
    Junkbond zijn dat niet obligaties met een lage rating? Moody's lange termijn rating is mi baa1.
    Rating van deze stukken bij mij niet bekend maar zal hier mogelijk 1 of 2 stappen onder zitten
  7. forum rang 4 CIT 19 augustus 2009 18:09
    quote:

    liguolong schreef:

    Netto? Hoewerkt de interest belasting?
    Volgens mij heft Oostenrijk geen bronbelasting op deze interestbetalingen. Wellicht kan iemand die recent interest heeft ontvangen eea bevestigen (anders zoek ik het wel even uit).

    Netto dus, al moet de waarde van de obligatie uiteraard wel in box 3 worden meegenomen.
258 Posts
Pagina: 1 2 3 4 5 6 ... 13 »» | Laatste |Omhoog ↑

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