Stato
Chiusa ad ulteriori risposte.

stordits

Forumer attivo
oevag 9 months results

a spanne non male:

Volksbanken Sees ‘High Double Digit’ Full-Year Pretax Profit
2010-11-22 12:35:30.332 GMT

By Boris Groendahl
Nov. 22 (Bloomberg) -- Oesterreichische Volksbanken AG, the
Austrian lender which got 1 billion euros of state aid last
year, said today it expected pretax profit "in the high double-
digit" million euros in the full year 2010.
Nine-month pretax profit reached 73 million euros, compared
to a pretax loss of 607 million euros in the previous year, the
company said in a statement today
 

fabrifede

Forumer storico
segnalo questo aegon, di cui si era giá parlato. NL0000120889


ora si compra a 54,75 forse il prezzo ora non é malaccio.

Ciao Bos, l'avevo messa sotto tiro anche io ma il problema è che fino a marzo paga 7,125% poi passa a tds + 0,85 che attualmente sarebbe circa 3,75%. Io 2 settimane fa ho preso la NL0000121416 a 68 con cedola al 5,18% fino al 2018 ma allora la 889 quotava circa 60 e il tds era 2,65 e quindi avrebbe reso molto meno.
Pero adesso rende sempre di piu la mia, a meno che non la richiamino. Dipende da cosa fa il tds holland da qui a marzo.....
:ciao:
 

maxinblack

Forumer storico
come sempre, hai fatto un bel fritto misto :D:D:up::up:

a me non dispiace la Coba, e Gfw.

quasi quasi, un cippino della seconda lo prendo anche io.

Lo so e' piu' forte di me, ma non mi fido molto in questo periodo, trovare roba decente, che paghi cedola, e che possa pure crescere in conto capitale e' sempre piu' difficile senza rischiare.
Quindi frammento, ma non aggiungo nel senso sono titoli che ho incrementato.

Queste acquistate mi sembrano un buon compromesso IMHO fra le varie esigenze. tutta roba non statale che paga cedola a parte COBA.

Oppure si va sulle superciofeghe allora lasci o raddoppia HSH e' la meno ciofega di tutte per fare trading adesso, ma non ne ho voglia:D

Ho gia' OVAG, ALPHA, TDS greci, sono uscito per il rotto della cuffia dalle Irlandesi:titanic:pfuuii

Stavo facendo una considerazione che mi sembra un po beota ma qui posso esprimermi:

Esempio molto schematico

Ipotesi: Compro 10K nominali di un titolo che rende il 5% al prezzo di 50% pago 5K e ho un rendimento su questi 5K del 10% avendolo pagato la meta. il rendimento e' ottimo.

Dopo un po' di tempo il titolo piano piano risale e va a 100% quindi fai un capital gain di 5K che si aggiungono ai 5 K che avevi sborsato. il rendimento adesso e' diventato sui 10K che hai in portafoglio solo del 5%originario quindi il rendimento e diciamo "normale"

A questo punto faccio 2 considerazioni opposte:

Ragionamento 1'
Sono stato bravo ho comprato un titolo basso, mi rende bene, e ho fatto anche un capital gain, mi godo la cedola e tengo tutto fermo in portafoglio specialmente se e' roba di qualita' che da' equilibrio al portafoglio.

Ragionamento2'
Azz. prima 5K a 50% mi rendevano il 10% ora ho 10K e mi rendono solo il 5% che li tengo a fare fermi li? vendo tutto, monetizzo il gain e vado a cercare qualcosa che costi meno per vedere se posso ancora guadagnare qualcosa. oppure monetizzo il gain e prendo roba a tripla AAA tanto il 5 % lo prendo pure li e' sto piu' tranquillo.

Ci pensate mai in questo modo e voi che fate?
 

maxolone

Forumer storico
OEVAG results first 9 months - Good stuff

[FONT=&quot]Österreichische Volksbanken-AG Group reports a consolidated pre-tax profit of EUR 73 million as of 30 September 2010[/FONT]
· [FONT=&quot]Net interest income[/FONT][FONT=&quot] increased by 27% compared to the same period of last year and reached EUR 584 million[/FONT]
· [FONT=&quot]Risk provisions[/FONT][FONT=&quot] declined by 48% and stood at EUR 286 million in the third quarter[/FONT]
· [FONT=&quot]As of 30 September, 2010 total assets amounted to EUR 47.8 billion[/FONT]
· [FONT=&quot]Capital ratios are solid, the tier 1 ratio in relation to credit risk was 9.7% and the equity ratio in relation to total risk was 11.8%[/FONT]
· [FONT=&quot]The liquidity position of VBAG Group remains very comfortable. Theissuance requirement of EUR 1.2 billion has been covered completely by the end of the third quarter[/FONT]
[FONT=&quot]VBAG Group results in detail[/FONT]
[FONT=&quot]The positive trend from the first two quarters could be continued, the consolidated result before taxes reached EUR 73 million as of 30 September 2010. [/FONT]
[FONT=&quot]Net interest income[/FONT][FONT=&quot] is one of the drivers behind the good result and amounted to EUR 584 million. This represents an increase of EUR 123 million or 27% compared to the first three quarters of 2009. Net interest income increased in all segments with the exception of the corporate segment where it was affected by the decline of the lending volume. [/FONT]
[FONT=&quot]Net fee and commission income[/FONT][FONT=&quot] declined by 3% in comparison to last year and stood at EUR 106 million at the end of the third quarter. Net income from exchange rate transactions dropped due to the pronounced reduction of FX loans. At the same time, net income from payment transactions and net fee and commission income from the securities business improved. [/FONT]
[FONT=&quot]At EUR 53 million, net trading income declined by EUR 46 million compared to the previous year. However, this is mainly a consequence of the excellent performance in 2009, when VBAG Group achieved record net trading income. [/FONT]
[FONT=&quot]Due to regulatory-related project costs in connection with the data processing center, operating expenditure increased. This resulted in a slight growth of administrative expenses of EUR 5 million.As of30 September 2010, administrative expenses were EUR 415 million. Income from financial investments, at EUR 11 million, reflects the incipient recovery on the financial markets.[/FONT]
[FONT=&quot]The economic environment remains difficult in some regions of Central and Eastern Europe. For this reason, VBAG Group is still reporting increased risk provisions. For the first three quarters of 2010, risk provisions amounted to EUR 286 million. The amount of risk provisions is still above the level of pre-crisis years; compared to the year 2009, however, risk provisions declined by 48%.[/FONT]
[FONT=&quot]Statement of financial position and capital ratios[/FONT]
[FONT=&quot]As of 30 September 2010, total assets amounted to EUR 47.8 billion, which signifies a decrease of EUR 1.4 billion or 2.8% in comparison to 31 December 2009. [/FONT]
[FONT=&quot]Loans and advances to customers[/FONT][FONT=&quot] have grown by EUR 338 million since the end of 2009, reaching EUR 24.5 billion. [/FONT]
[FONT=&quot]As a result of scheduled repayments, debts evidenced by certificates decreased by 3.8% against the end of 2009 and stood at EUR 16.7 billion. An increase of EUR 182 million was recorded in amounts owed to customers which reached EUR 7.6 billion. The liquidity situation of VBAG Group remains very comfortable.[/FONT]
[FONT=&quot]As at 30 September 2010, the tier 1 ratio in relation to credit risk was 9.7%, and the equity ratio in relation to total risk was 11.8%. Available own funds exceeded the regulatory requirements by EUR 1.1 billion or 47%. Capitalisation of VBAG Group is good, as shown by these figures.[/FONT]
[FONT=&quot]New Group structure[/FONT]
[FONT=&quot]A comprehensive process was initiated in order to refocus on core business areas and to strengthen the business model. The sale of the Austrian retail banks to the Volksbank sector has been concluded according to plan. Europolis (commercial real estate investor and asset manager in CEE) was sold in June, closing of the transaction will be on 1 January 2011. This process also aims at aligning VBAG Group´s balance sheet size with the Volksbank sector´s balance sheet size in the medium term. VBAG Group will continue this process of refocusing and resizing. The sale of further assets, subsidiaries or participations is an option which is currently being evaluated. The combination of VBAG Group and Investkredit, which should be completed in the first half year of 2011, is also part of the process. Since September a joint managing board is responsible for both, VBAG Group and Investkredit. [/FONT]
[FONT=&quot]Outlook [/FONT]
[FONT=&quot]The outlook for the current year is satisfactory for VBAG Group. The Group expects to report a consolidated result before taxes in a high two-digit million range for the full year. On the single entity, non-consolidated level, however, a positive result is not expected. Distributions on profit-related securities for the fiscal year 2010 are therefore unlikely from today´s viewpoint. Nevertheless, all the above mentioned measures are targeted at repaying the participation capital held by the Republic of Austria in tranches as planned from 2011 onwards. Another aim is to fully resume distributions on all profit-related instruments in 2012.[/FONT]
 

stordits

Forumer attivo
me ne compro altre

[FONT=&quot]Österreichische Volksbanken-AG Group reports a consolidated pre-tax profit of EUR 73 million as of 30 September 2010[/FONT]
· [FONT=&quot]Net interest income[/FONT][FONT=&quot] increased by 27% compared to the same period of last year and reached EUR 584 million[/FONT]
· [FONT=&quot]Risk provisions[/FONT][FONT=&quot] declined by 48% and stood at EUR 286 million in the third quarter[/FONT]
· [FONT=&quot]As of 30 September, 2010 total assets amounted to EUR 47.8 billion[/FONT]
· [FONT=&quot]Capital ratios are solid, the tier 1 ratio in relation to credit risk was 9.7% and the equity ratio in relation to total risk was 11.8%[/FONT]
· [FONT=&quot]The liquidity position of VBAG Group remains very comfortable. Theissuance requirement of EUR 1.2 billion has been covered completely by the end of the third quarter[/FONT]
[FONT=&quot]VBAG Group results in detail[/FONT]
[FONT=&quot]The positive trend from the first two quarters could be continued, the consolidated result before taxes reached EUR 73 million as of 30 September 2010. [/FONT]
[FONT=&quot]Net interest income[/FONT][FONT=&quot] is one of the drivers behind the good result and amounted to EUR 584 million. This represents an increase of EUR 123 million or 27% compared to the first three quarters of 2009. Net interest income increased in all segments with the exception of the corporate segment where it was affected by the decline of the lending volume. [/FONT]
[FONT=&quot]Net fee and commission income[/FONT][FONT=&quot] declined by 3% in comparison to last year and stood at EUR 106 million at the end of the third quarter. Net income from exchange rate transactions dropped due to the pronounced reduction of FX loans. At the same time, net income from payment transactions and net fee and commission income from the securities business improved. [/FONT]
[FONT=&quot]At EUR 53 million, net trading income declined by EUR 46 million compared to the previous year. However, this is mainly a consequence of the excellent performance in 2009, when VBAG Group achieved record net trading income. [/FONT]
[FONT=&quot]Due to regulatory-related project costs in connection with the data processing center, operating expenditure increased. This resulted in a slight growth of administrative expenses of EUR 5 million.As of30 September 2010, administrative expenses were EUR 415 million. Income from financial investments, at EUR 11 million, reflects the incipient recovery on the financial markets.[/FONT]
[FONT=&quot]The economic environment remains difficult in some regions of Central and Eastern Europe. For this reason, VBAG Group is still reporting increased risk provisions. For the first three quarters of 2010, risk provisions amounted to EUR 286 million. The amount of risk provisions is still above the level of pre-crisis years; compared to the year 2009, however, risk provisions declined by 48%.[/FONT]
[FONT=&quot]Statement of financial position and capital ratios[/FONT]
[FONT=&quot]As of 30 September 2010, total assets amounted to EUR 47.8 billion, which signifies a decrease of EUR 1.4 billion or 2.8% in comparison to 31 December 2009. [/FONT]
[FONT=&quot]Loans and advances to customers[/FONT][FONT=&quot] have grown by EUR 338 million since the end of 2009, reaching EUR 24.5 billion. [/FONT]
[FONT=&quot]As a result of scheduled repayments, debts evidenced by certificates decreased by 3.8% against the end of 2009 and stood at EUR 16.7 billion. An increase of EUR 182 million was recorded in amounts owed to customers which reached EUR 7.6 billion. The liquidity situation of VBAG Group remains very comfortable.[/FONT]
[FONT=&quot]As at 30 September 2010, the tier 1 ratio in relation to credit risk was 9.7%, and the equity ratio in relation to total risk was 11.8%. Available own funds exceeded the regulatory requirements by EUR 1.1 billion or 47%. Capitalisation of VBAG Group is good, as shown by these figures.[/FONT]
[FONT=&quot]New Group structure[/FONT]
[FONT=&quot]A comprehensive process was initiated in order to refocus on core business areas and to strengthen the business model. The sale of the Austrian retail banks to the Volksbank sector has been concluded according to plan. Europolis (commercial real estate investor and asset manager in CEE) was sold in June, closing of the transaction will be on 1 January 2011. This process also aims at aligning VBAG Group´s balance sheet size with the Volksbank sector´s balance sheet size in the medium term. VBAG Group will continue this process of refocusing and resizing. The sale of further assets, subsidiaries or participations is an option which is currently being evaluated. The combination of VBAG Group and Investkredit, which should be completed in the first half year of 2011, is also part of the process. Since September a joint managing board is responsible for both, VBAG Group and Investkredit. [/FONT]
[FONT=&quot]Outlook [/FONT]
[FONT=&quot]The outlook for the current year is satisfactory for VBAG Group. The Group expects to report a consolidated result before taxes in a high two-digit million range for the full year. On the single entity, non-consolidated level, however, a positive result is not expected. Distributions on profit-related securities for the fiscal year 2010 are therefore unlikely from today´s viewpoint. Nevertheless, all the above mentioned measures are targeted at repaying the participation capital held by the Republic of Austria in tranches as planned from 2011 onwards. Another aim is to fully resume distributions on all profit-related instruments in 2012.[/FONT]



stavo valutando se fare una "minch.iata su aib10.75 lt2 a 45 ma tutto sommato e' meglio fare una scommessa su oevag a 34.
Societa' vuole tornare a disribuire cedole.
Nello statement riportato qui sopra non era obbligata a parlare di questo argomento. Se lo ha fatto vuol dire che e' una loro primaria esigenza mentre in irlanda la primaria esigenza del governo e' metterlo in c... agli obbligazionisti subordinati. Se fossi il premier irlandese, farei la stessa cosa, pero' ben lungi da dargli i soldi
 

frankiemachine

Mr. Tentenna
Oddio

Lo so e' piu' forte di me, ma non mi fido molto in questo periodo, trovare roba decente, che paghi cedola, e che possa pure crescere in conto capitale e' sempre piu' difficile senza rischiare.
Quindi frammento, ma non aggiungo nel senso sono titoli che ho incrementato.

Queste acquistate mi sembrano un buon compromesso IMHO fra le varie esigenze. tutta roba non statale che paga cedola a parte COBA.

Oppure si va sulle superciofeghe allora lasci o raddoppia HSH e' la meno ciofega di tutte per fare trading adesso, ma non ne ho voglia:D

Ho gia' OVAG, ALPHA, TDS greci, sono uscito per il rotto della cuffia dalle Irlandesi:titanic:pfuuii

Stavo facendo una considerazione che mi sembra un po beota ma qui posso esprimermi:

Esempio molto schematico

Ipotesi: Compro 10K nominali di un titolo che rende il 5% al prezzo di 50% pago 5K e ho un rendimento su questi 5K del 10% avendolo pagato la meta. il rendimento e' ottimo.

Dopo un po' di tempo il titolo piano piano risale e va a 100% quindi fai un capital gain di 5K che si aggiungono ai 5 K che avevi sborsato. il rendimento adesso e' diventato sui 10K che hai in portafoglio solo del 5%originario quindi il rendimento e diciamo "normale"

A questo punto faccio 2 considerazioni opposte:

Ragionamento 1'
Sono stato bravo ho comprato un titolo basso, mi rende bene, e ho fatto anche un capital gain, mi godo la cedola e tengo tutto fermo in portafoglio specialmente se e' roba di qualita' che da' equilibrio al portafoglio.

Ragionamento2'
Azz. prima 5K a 50% mi rendevano il 10% ora ho 10K e mi rendono solo il 5% che li tengo a fare fermi li? vendo tutto, monetizzo il gain e vado a cercare qualcosa che costi meno per vedere se posso ancora guadagnare qualcosa. oppure monetizzo il gain e prendo roba a tripla AAA tanto il 5 % lo prendo pure li e' sto piu' tranquillo.

Ci pensate mai in questo modo e voi che fate?

....mica facile pero' trovare roba che compri a 50 (e non sia roba che scotta) e che dopo qualche tempo (quanto?) te la ritrovi a 100 (ma se e' roba che scotta non ci arriva!)
 

maxinblack

Forumer storico
....mica facile pero' trovare roba che compri a 50 (e non sia roba che scotta) e che dopo qualche tempo (quanto?) te la ritrovi a 100 (ma se e' roba che scotta non ci arriva!)

No non volevo dire questo in modo letterale, ho fatto un esempio piu' schematico possibile per descrivere la situazione, credo che alcuni di noi che sono sulle perpetual da un po' di tempo abbiano visto tutti e due gli aspetti e cioe'

Da 100 a 20 ho ancora Depfa a ricordarmelo

oppure

Da 50 a 100 come successe da marzo dello scorso anno fino ad ora.
 
Stato
Chiusa ad ulteriori risposte.

Users who are viewing this thread

Alto