TIDMIRF

RNS Number : 2755O

IRF European Fin Investments Ltd

18 September 2013

IRF European Finance Investments Ltd

18 September 2013

IRF European Finance Investments Ltd

("IRF" or the "Company")

Fiscal 2012 Results

Three Months 2013 Results

Six Months 2013 Results

IRF European Finance Investments Ltd (SFM: IRF) announces its audited financial results for the fiscal year ended 31 December 2012, the three month period ended 31 March 2013 and the six month period ended 30 June 2013.

Financial Highlights

 
         Amounts in EUR 000            Fiscal Year ended   Fiscal Year ended 
                                        31 December 2012    31 December 2011 
------------------------------------  ------------------  ------------------ 
 Income Statement items: 
------------------------------------  ------------------  ------------------ 
 (Loss)/ Operating Income                    7,700              (1,909) 
------------------------------------  ------------------  ------------------ 
 (Loss)/Profit Before Income Tax            (6,681)            (77,995) 
------------------------------------  ------------------  ------------------ 
 Income Tax Expense                           47                  125 
------------------------------------  ------------------  ------------------ 
 (Loss)/Profit after Tax                    (6,634)            (77,995) 
------------------------------------  ------------------  ------------------ 
 Other Comprehensive Income, net 
  of tax                                     8,555              17,794 
------------------------------------  ------------------  ------------------ 
 (Loss)/ Total Comprehensive Income 
  after tax                                  1,921             (60,076) 
------------------------------------  ------------------  ------------------ 
 Attributable to Equity Holders 
  of IRF                                     1,921             (60,076) 
------------------------------------  ------------------  ------------------ 
 Basic Earnings (loss) per Share 
  (in euro/share)                           (0.05)              (0.57) 
------------------------------------  ------------------  ------------------ 
 
 Balance Sheet Items: 
------------------------------------  ------------------  ------------------ 
 Cash and Cash Equivalents                   2,538               4,600 
------------------------------------  ------------------  ------------------ 
 Total Assets                               150,067             141,558 
------------------------------------  ------------------  ------------------ 
 Total Liabilities                          184,686             178,098 
------------------------------------  ------------------  ------------------ 
 Total Equity                              (34,619)            (36,540) 
------------------------------------  ------------------  ------------------ 
 Equity Attributable to Equity 
  Holders of IRF                           (34,619)            (36,540) 
------------------------------------  ------------------  ------------------ 
 
 
         Amounts in EUR 000             Three months    Three months ended 
                                            ended          31 March 2012 
                                        31 March 2013 
------------------------------------  ---------------  ------------------- 
 Income Statement items: 
------------------------------------  ---------------  ------------------- 
 (Loss)/ Operating Income                  2,325               108 
------------------------------------  ---------------  ------------------- 
 (Loss)/Profit Before Income Tax          (1,459)            (2,675) 
------------------------------------  ---------------  ------------------- 
 Income Tax Expense                          -                  - 
------------------------------------  ---------------  ------------------- 
 (Loss)/Profit after Tax                  (1,459)            (2,675) 
------------------------------------  ---------------  ------------------- 
 Other Comprehensive Income, net 
  of tax                                  (22,074)           (11,454) 
------------------------------------  ---------------  ------------------- 
 (Loss)/ Total Comprehensive Income 
  after tax                               (23,534)           (14,129) 
------------------------------------  ---------------  ------------------- 
 Attributable to Equity Holders 
  of IRF                                  (23,534)           (14,129) 
------------------------------------  ---------------  ------------------- 
 Basic Earnings (loss) per Share 
  (in euro/share)                          (0.01)             (0.02) 
------------------------------------  ---------------  ------------------- 
 
                                       31 March 2013     31 December 2012 
------------------------------------  ---------------  ------------------- 
 Balance Sheet Items: 
------------------------------------  ---------------  ------------------- 
 Cash and Cash Equivalents                 3,155              2,538 
------------------------------------  ---------------  ------------------- 
 Total Assets                             130,068            150,067 
------------------------------------  ---------------  ------------------- 
 Total Liabilities                        188,221            184,686 
------------------------------------  ---------------  ------------------- 
 Total Equity                             (58,153)           (34,619) 
------------------------------------  ---------------  ------------------- 
 Equity Attributable to Equity 
  Holders of IRF                          (58,153)           (34,619) 
------------------------------------  ---------------  ------------------- 
 
 
         Amounts in EUR 000            Six months ended   Six months ended 
                                         30 June 2013       30 June 2012 
------------------------------------  -----------------  ----------------- 
 Income Statement items: 
------------------------------------  -----------------  ----------------- 
 (Loss)/ Operating Income                   1,463              1,057 
------------------------------------  -----------------  ----------------- 
 (Loss)/Profit Before Income Tax           (4,566)            (5,945) 
------------------------------------  -----------------  ----------------- 
 Income Tax Expense                           -                  - 
------------------------------------  -----------------  ----------------- 
 (Loss)/Profit after Tax                   (4,566)            (5,945) 
------------------------------------  -----------------  ----------------- 
 Other Comprehensive Income, net 
  of tax                                   (20,970)           (17,792) 
------------------------------------  -----------------  ----------------- 
 (Loss)/ Total Comprehensive Income 
  after tax                                (25,536)           (23,636) 
------------------------------------  -----------------  ----------------- 
 Attributable to Equity Holders 
  of IRF                                   (25,536)           (23,636) 
------------------------------------  -----------------  ----------------- 
 Basic Earnings (loss) per Share 
  (in euro/share)                           (0.03)             (0.04) 
------------------------------------  -----------------  ----------------- 
 
                                         30 June 2013     31 December 2012 
------------------------------------  -----------------  ----------------- 
 Balance Sheet Items: 
------------------------------------  -----------------  ----------------- 
 Cash and Cash Equivalents                  3,787              2,538 
------------------------------------  -----------------  ----------------- 
 Total Assets                              130,551            150,067 
------------------------------------  -----------------  ----------------- 
 Total Liabilities                         190,707            184,686 
------------------------------------  -----------------  ----------------- 
 Total Equity                              (60,156)           (34,619) 
------------------------------------  -----------------  ----------------- 
 Equity Attributable to Equity 
  Holders of IRF                           (60,156)           (34,619) 
------------------------------------  -----------------  ----------------- 
 

Information

A copy of our annual financial report can be found on our website (www.irf-finance.com) and copies will be sent to our shareholders shortly.

For further information, please contact:

IRF European Finance Investments Ltd

   Angeliki Frangou, Chairperson                 Tel: +30 210 428 0560 
   Sheldon M. Goldman                                Tel: +1 212 404 5740 

About IRF

IRF's principal investment strategy is to seek investment opportunities in global financial institutions, with a complementary focus on investments in distressed opportunities in other industries. The Company was initially listed on AIM until 19 January 2009 when it transferred to the SFM (Specialist Fund Market), both markets operated by the London Stock Exchange plc. The Company's registered office is at Canon's Court 22 Victoria Street, Hamilton HM12, Bermuda.

Forward-looking statements

All statements, other than statements of historical fact, included in this release are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon current expectations and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. IRF assumes no obligation and expressly disclaims any duty to update the information contained herein except as required by law.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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