Ad-Hoc News 11/02/2010
Ad Hoc Mitteilung nach §15 WpHG
Düsseldorf, February 11, 2010
WestLB AG posts net loss of € 294.9 million for the 2009 financial year
The Managing Board prepared the annual financial statements of WestLB AG on February 11, 2010, according to which WestLB AG posted a net loss of € 294.9 million for the 2009 financial year.
Necessary adjustments to the value of participations, the challenging economic conditions and a generally weaker fourth quarter in 2009 were the main drivers of the net loss for the year.
This means that no coupon payments on profit participation certificates and silent participations of WestLB AG will be made for the 2009 financial year. More over these equity instruments will participate in the net loss. The repayment amount of the profit participation certificates of WestLB AG will be reduced by approx. 5 percent, the repayment amount of the hybrid Tier 1 bonds from 2005 by approx. 6 percent, and the repayment amount of the silent participation of the SoFFin, which was made available in December 2009. The approval of the annual financial statements is scheduled for March 22, 2010.