Equities - DVFA

DVFA GmbH annual financial statements
Profit & Loss Statement_
Profit & Loss Statement
as at 31 December 2010 (in EUR)
The profit and loss statement for financial year 2010 reflects net revenues (turnover) of
€3,385k (2009: €3,023k), an increase of 12%, and other operating revenues totalling
€29k (2009: €75k). Turnover was generated primarily by the Finance Academy and the
area of financial communication. The company received its contractual 75% share of membership
dues and joining fees received by DVFA e.V. as payment for its organisational and
administrative services. Material expenditures were €70k higher at €1,038k. The majority
of these costs are attributable to instructors’ fees, marketing and event costs. Personnel
expenditures rose €34k, or 2%, to €1,521k. Depreciation costs were stable year-on-year,
at €73k. Other operating expenditure was up €39k, or 6%, to €689k. Transitioning to measurement
of pension provisions in accordance with the German Accounting Law
Modernisation Act (BilMoG) resulted in interest expenditure totalling €16k and extraordinary
expenses of 3k (2009: 0). After taxes, net profit totalled €74k (2009: €53k net loss).
The 2010 annual financial statements were audited by Ebner Stolz Mönning Bachem
GmbH & Co. KG, Wirtschaftsprüfungsgesellschaft, Steuerberatungsgesellschaft, Frankfurt
am Main, and received an unqualified opinion.
P + L 2010 2009
EUR EUR
Turnover 3,384,966.96 3,022,916.17
Other Assets 29,671.56 75,239.37
Material Expenditure 1,038,155.66 967,859.85
Personnel Expenditure 1,520,680.20 1,486,249.77
Depreciations 72,960.96 72,779.60
Other Operating Expenditure 688,525.23 649,107.21
Interest Income 19,604.37 29,730.17
Interest Expenditure 15,562.00 0.00
Operating income 98,358.84 - 48,110.72
Extraordinary Expenses 2,615.00 0.00
Taxes on Earnings 21,821.62 5,180.28
Net profit 73,922.22 - 53,291.00
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