Effecten-Spiegel AG: Half-year balance sheet shows falling earnings!

Effecten-Spiegel AG: Half-year balance sheet shows falling earnings!

On August 11, 2025, Effecten-Spiegel AG will publish its interim statement for the first half of 2025. In an environment of high market volatility, triggered by tariff announcements by the American President, there is declining confidence in American economic policy and the dollar as a safe haven. This causes gold and silver prices to rise, with Pan American Silver Corp. increased by 40% in dollars.

For Effecten-Spiegel AG, the first half of the year ended with a surplus of EUR 1,814 thousand, which represents a decrease compared to the previous year (EUR 2,335 thousand). Income from the sale of fixed assets securities amounts to EUR 1,618 thousand, also a year-on-year decrease from EUR 2,200 thousand. The dividend income and sales revenue from the publishing business also show a similar trend at EUR 552 thousand (previous year: EUR 606 thousand) and EUR 1,304 thousand (previous year: EUR 1,423 thousand).

Financial key figures in detail

Additional financial indicators show complex developments. Interest and option premiums rose to EUR 220 thousand, compared to EUR 167 thousand in the previous year. The annual report notes devaluations on securities held as current assets amounting to EUR 488 thousand as of the reporting date, compared to EUR 532 thousand in the previous year. In addition, the foreign currency accounts recorded losses from exchange rate differences of EUR 251 thousand.

The net asset value (NAV) as of June 30, 2025 is 18.79 euros per share. The dividend for the 2024 financial year of EUR 7,007,262, which corresponds to EUR 2.00 per share, significantly reduces the NAV. The largest securities positions include well-known companies such as Sixt SE, The Walt Disney Company and Coloplast AS.

Strategic investments

The current interim statement also refers to the strategic investments in the Effecten-Spiegel equity fund (A2N82J) and various corporate bonds. These investments reflect the company's long-term strategy, despite volatile market conditions.

For further information, those interested can view the detailed interim announcement on the TradingView website, available via this link is reachable. Further news about Effecten-Spiegel AG is also available on the MarketScreener website: here.