Annual Financial Statements 2011 of Bank Austria

Management Report
Management Report (CONTINUED)
Condensed income statement of Bank Austria 1) (€ m)
QUArTErLY
FIgUrES FULL-YEAr FIgUrES
CHAngE ovEr
PrEvIoUS YEAr recast 2)
cHaNGe OVer
2010 recast 2)
Q1 2011 Q2 2011 Q3 2011 Q4 2011 2011 2010 € m In % 2010 € m IN %
Net interest 1,128 1,120 1,128 1,120 4,496 4,543 –48 –1% 4,521 –26 –1%
Dividend income and other income
from equity investments
50 52 49 56 207 157 +50 +32% 157 +50 +32%
Net fees and commissions 462 460 479 484 1,885 1,990 –105 –5% 1,987 –102 –5%
Net trading, hedging and fair value income 114 54 24 70 262 326 –65 –20% 244 +18 +7%
Net other expenses/income 47 58 38 –7 136 191 –55 –29% 159 –23 –15%
Operating income 1,801 1,744 1,717 1,723 6,986 7,208 –222 –3% 7,069 –83 –1%
Payroll costs –496 –512 –499 –494 –2,001 –1,931 –70 +4% –1,913 –88 +5%
Other administrative expenses –386 –408 –390 –444 –1,627 –1,527 –100 +7% –1,505 –121 +8%
Recovery of expenses 0 0 1 1 2 2 +0 +8% 2 +0 +8%
Amortisation, depreciation and impairment
losses on intangible and tangible assets
–69 –71 –69 –68 –276 –286 +10 –3% –278 +2 –1%
Operating costs – 950 – 990 – 957 –1,005 –3,903 –3,742 –161 +4% –3,695 –208 +6%
Operating profit 851 754 761 718 3,083 3,466 –383 –11% 3,374 –291 –9%
Net write-downs of loans and provisions
for guarantees and commitments
–376 –329 –330 –317 –1,352 –1,839 +488 –27% –1,839 +488 –27%
net operating profit 475 425 431 401 1,732 1,626 +105 +6% 1,535 +197 +13%
Provisions for risks and charges –32 1 –100 –5 –136 –136 –0 +0% –136 –0 +0%
Integration/restructuring costs –1 –1 –15 –11 –28 –4 –24 >100% –4 –24 >100%
Net income from investments 8 –37 –118 –130 –277 62 –339 n.m. 61 –338 n.m.
Profit before tax 449 388 197 256 1,291 1,548 –258 –17% 1,456 –165 –11%
Income tax for the period –89 –24 –141 –7 –261 –356 +95 –27% –301 +41 –13%
Profit for the period 360 364 57 249 1,030 1,192 –162 –14% 1,155 –124 –11%
Non-controlling interests –13 –12 –16 –9 –50 –51 +1 –2% –51 +1 –2%
Net profit before PPA 3) 347 352 41 240 980 1,142 –161 –14% 1,104 –123 –11%
Purchase Price Allocation effect 4) –4 –3 –24 –4 –35 –17 –19 >100% –17 –19 >100%
Goodwill impairment –3 –50 –653 –32 –737 –378 –358 +95% –378 –358 +95%
net profit 3) 341 299 –635 204 209 747 –538 –72% 709 –500 –71%
n.m. = not meaningful
1) Bank Austria’s income statement as presented in this table is a reclassified format corresponding to the format used for segment reporting. See pages 123 to 132 of this report./
2) Recast: comparative figures adjusted to the consolidation perimeter and the business structure in 2011. / 3) Attributable to the owners of Bank Austria. 4) PPA effects for Kazakhstan,
Ukraine, Russia and Aton.
Bank Austria · Annual Financial Statements 2011
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