Annual General Meeting 2012
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Annual General Meeting 2012

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Presentation held by CEO Wolfgang F. Driese on the occasion of DVB's Annual General Meeting on 13 June 2012

Presentation held by CEO Wolfgang F. Driese on the occasion of DVB's Annual General Meeting on 13 June 2012

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  • 1. Annual General Meeting Welcome! Frankfurt/Main, 13 June 2012 Slide 1
  • 2. DVB employees deliver top performance DVB Bank SE | Annual General Meeting 2012 Slide 2
  • 3. Consolidated net income reached a new record level[€ mn] 337.1 307.3 +9.7% 147.7 131.1 +12.7% 2010 2011 Total income Consolidated net income before taxes (after allowance for credit losses) DVB Bank SE | Annual General Meeting 2012 Slide 3
  • 4. Development of consolidated net income before taxesfrom 1997 to 2011[€ mn] Conversion HGB IFRS completed 147.7 131.1 118.7 101.5 100.2 86.6 50.8 47.0 44.8 51.8 35.7 36.1 22.8 6.7 1.9 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 DVB Bank SE | Annual General Meeting 2012 Slide 4
  • 5. The consolidated income statement at a glance[IFRS] 2011 2010 %Net interest income €258.3 mn €193.0 mn 33.8Allowance for credit losses €-59.2 mn €-52.0 mn 13.8Net interest income after allowance for credit losses €199.1 mn €141.0 mn 41.2Net fee and commission income €116.2 mn €124.4 mn -6.6Net income from financial instrumentsin accordance with IAS 39 €4.4 mn €30.2 mn -85.4General administrative expenses €-189.4 mn €-176.2 mn 7.5Consolidated net income (before taxes) €147.7 mn €131.1 mn 12.7Consolidated net income (after taxes) €110.4 mn €104.0 mn 6.2 DVB Bank SE | Annual General Meeting 2012 Slide 5
  • 6. Performance of key Group management ratios (%) Cost / Income ratio Return on equity before taxes 57.4 13.9 14.0 49.6 49.0 Target 13.1 47.8 value Target 12–15% 9.4 value ≤ 50% 2008 2009 2010 2011 2008 2009 2010 2011 DVB Bank SE | Annual General Meeting 2012 Slide 6
  • 7. Allowance for credit losses [€ mn] Portfolio Individual impairments impairments Provisions Total Additions Reversals Direct Recoveries on write-offs loans and advances previously written offShipping Finance -57.1 21.7 -0.3 1.6 -2.2 – -36.3Aviation Finance -16.2 10.8 – 1.0 -1.1 -0.2 -5.7Land Transport Finance -0.1 0.1 – – 0.0 – 0.0Investment Management -14.5 4.4 – 1.8 – – -8.3ITF Suisse – – – – – – –Business no longer in linewith the Bank’s strategy -9.0 0.9 -0.1 0.4 -0.4 – -8.2Others 0.0 0.1 -0.2 0.0 -0.6 – -0.7Total 2011 -96.9 38.0 -0.6 4.8 -4.3 -0.2 -59.2Total 2010 -86.0 44.3 -10.9 1.3 -1.3 0.6 -52.0 DVB Bank SE | Annual General Meeting 2012 Slide 7
  • 8. New Transport Finance business in 2011 Shipping Aviation Land Transport New business Finance Finance Finance Transport FinanceNo. of new deals 93 78 13 184Underwriting DVB €2,662.4 mn €2,864.0 mn €373.7 mn €5,900.1 mnSyndicated /to be syndicated €139.2 mn €183.3 mn --- €322.5 mnFinal take DVB €2,523.2 mn €2,680.7 mn €373.7 mn €5,577.6 mnAvg. deal size €28.6 mn €36.7 mn €28.7 mn €32.1 mnLeading role 79.6% 72.2% 46.0% 74.2% DVB Bank SE | Annual General Meeting 2012 Slide 8
  • 9. New business margin development[bp]800 400 354700 327 350 313600 300500 250 191400 375 363 200 161 161 333 331 338 325 153 140 304300 280 150 206 216 214 218 191 180 179200 159 100 144 139 139 149 135 137 137 114100 50 0 0 2004 2005 2006 2007 2008 2009 2010 2011 Shipping Finance Aviation Finance Land Transport Finance Transport Finance total DVB Bank SE | Annual General Meeting 2012 Slide 9
  • 10. Increase in nominal lending volume €21.7 bn +13.0% €19.2 bn 31 Dec 2011 31 Dec 2010 DVB Bank SE | Annual General Meeting 2012 Slide 10
  • 11. Volume of customer lending by business division 2011 Shipping Finance 52.1% (-1.5 pp) Aviation Finance 31.8% (+2.6 pp) Land Transport Finance €21.7 7.4% (-0.4 pp) bn ITF Suisse 4.1% (+0.5 pp) Investment Management 3.2% (-1.0 pp) Business no longer in line with the Bank’s strategy 1.4% (-0.2 pp) DVB Bank SE | Annual General Meeting 2012 Slide 11
  • 12. Shipping Finance portfolio by vessel type 2011 Tankers 31.8% thereof: 12.7% Crude oil tankers 8.2% Chemical tankers 7.2% Product tankers 3.7% Gas tankers Offshore 21.0% thereof: 5.0% Anchor handlers 4.4% Platform supply vessels 4.1% Drillships 2.9% Rigs 4.6% Others €11.3 Bulk carriers 17.7% bn Container carriers 10.9% Container boxes 6.3% Cruise ships 5.0% Ferries / passenger vessels 2.1% F(P)SO 0.9% Others 4.3% DVB Bank SE | Annual General Meeting 2012 Slide 12
  • 13. Aviation Finance portfolio by aircraft class 2011 Narrowbody pax 55.2% thereof: 29.5% Airbus 25.7% Boeing Widebody pax 30.0% thereof: 15.2% Airbus €6.9 14.8% Boeing bn Regional jets 6.9% thereof: 5.7% Embraer 1.1% Bombardier 0.1% Fokker Freighters 7.9% (only Boeing) DVB Bank SE | Annual General Meeting 2012 Slide 13
  • 14. Land Transport Finance portfolio by equipment types 2011 On rail 86.5% thereof: 59.6% Freight cars 12.9% Locomotives 12.0% Regional passenger train sets 1.5% Passenger coaches 0.5% City / commuter traffic €1.6 On road 11.9% bn thereof: 11.1% Road tractors and trailers 0.8% Tank containers No longer in line with the Bank’s strategy: 1.3% Terminals / logistics property 0.3% Other immovable assets DVB Bank SE | Annual General Meeting 2012 Slide 14
  • 15. Portfolio collateralisationLoan-to-value ratio (%):Ratio of the loan amount to the market value of the financed asset 76.4 81.5 78.7 77.7 78.1 69.9 71.9 74.6 74.3 73.0 75.0 74.5 67.1 64.4 60.1 Shipping Finance Aviation Finance Land Transport Finance 2007 2008 2009 2010 2011 DVB Bank SE | Annual General Meeting 2012 Slide 15
  • 16. Capital (German Banking Act) and capital ratios[€ mn] 31 Dec 2011 31 Dec 2010 1,304 1,309 1,179 1,105 Tier 1 capital Total capital Tier 1 capital Total capital Capital ratios (following the confirmation of profits) Basel II 19.7% 21.8% 18.9% 22.4% DVB Bank SE | Annual General Meeting 2012 Slide 16
  • 17. Consolidated net income before taxes (31 March 2012)[€ mn] 51.8 52.8 Net interest income 50.2 -3.1% after allowance for credit losses Net fee and 27.2 -9.9% commission income 24.5 22.0 13.2 Result from financial -214.4% instruments in acc. with IAS 39 Consolidated net -58.3% income before taxes -15.1 31 March 2011 31 March 2012 DVB Bank SE | Annual General Meeting 2012 Slide 17
  • 18. Risk for the global economy still persistChange of gross domestic product (%) 10.4 10.6 9.2 9.2 8.2 7.2 6.9 7.5 6.6 5.3 4.4 4.3 4.3 4.0 3.9 3.5 3.6 3.1 3.0 2.7 3.0 1.7 2.1 1.9 1.4 2.0 0.6 -0.3 -0.7 -0.3 -0.6-3.5 -4.3 -5.1 -5.5 -7.8 USA Euro zone Germany Japan Russia China India Brasil World 2009 2010 2011 2012 Source: IMF World Economic Outlook / April 2012 DVB Bank SE | Annual General Meeting 2012 Slide 18
  • 19. Transport markets in 2012The shipping markets mainly have a supply problem while theaviation markets are having more of a demand issue.The pressure on transport asset values, charterand leasing rates remains.Rising fuel prices increase operating costs.Companies’ cash reserves are declining. 2012Access to financing sources is more difficult again.Further defaults of transport operators and continuedconsolidation must be expected. DVB Bank SE | Annual General Meeting 2012 Slide 19
  • 20. Objectives for 2012We aim to continue our long-term positive earnings trend(target ROE: 12–15%; CIR: below 50%).We are attracting third-party equity to expand ourInvestment Management activities. We are broadening our investor base on the liability side to strengthen our funding capacity. 2012We intend to further increase the Aviation Finance shareof the Bank’s total customer lending volume. DVB Bank SE | Annual General Meeting 2012 Slide 20
  • 21. Annual General Meeting Thank you! Frankfurt/Main, 13 June 2012 Slide 21
  • 22. Annual General Meeting Frankfurt/Main, 13 June 2012 Slide 22
  • 23. Next Annual General Meeting 13 June 2013 Frankfurt/Main Slide 23