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EQS-Ad-hoc: Varengold Bank AG / Key word(s): Annual Results/AGM/EGM
Varengold Bank AG receives audit certificate for the 2022 annual financial statements with unqualified audit opinion
20-Jun-2024 / 11:07 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News
- a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Hamburg, 20 June 2024 - The events and developments in 2023 had a significant impact on the course of the audit of the
annual financial statements for the 2022 financial year. Due to the ongoing special audit of the business operations in
accordance with Section 44 (1) sentence 2 of the German Banking Act (KWG) and the resulting partial results, the
necessary audit procedures by PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, Hamburg, could only be
completed with a significant delay. Among other things, additional positive and negative value-enhancing factors had to
be considered in the further course of 2023 and 2024 when preparing the financial statements.
The result from ordinary business activities (equivalent to EBT) with an amount of EUR 25.4 million was 18.9% higher
than in 2021 (same period of the previous year: EUR 21.4 million). Taking into account income taxes and other taxes,
the net profit for the year totalled EUR 9.1 million (previous year: EUR 17.2 million). The assessment basis for income
taxes in the 2022 financial year is mainly characterised by the allocation to the fund for general banking risks in
accordance with Section 340g HGB, the provision for potential fines, the provisions for legal risks, tax expenses for
previous years and other significant influencing factors such as non-deductible value adjustments, write-downs and
contributions. In the previous year, a loss carried forward also had an impact.
The annual financial statements as of 31 December 2022 prepared in accordance with the German Commercial Code (HGB) and
the management report for the 2022 financial year have now been finally audited by PricewaterhouseCoopers GmbH
Wirtschaftsprüfungsgesellschaft, issued with an unqualified audit opinion and finally adopted by the Supervisory Board
today.
The Annual General Meeting originally planned for August 2023, which will resolve on the 2022 financial year, will be
held on 13 August 2024. The official invitation with agenda will be published in the Federal Gazette as soon as
possible.
In addition, PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft has now begun the audit of the 2023 annual
financial statements. Based on current knowledge, Varengold Bank expects an audit in the course of the fourth quarter
of 2024.

Dr. Bernhard Fuhrmann
Management Board
Frank Otten
Management Board

Disclaimer
This notification is a mandatory notification according to Art. 17 MAR. The assessments contained are subject to the
following caveats.
Disclaimer on forward-looking statements / no duty to update
This communication contains forward-looking statements that are subject to certain risks and uncertainties. Future
results may differ materially from those currently expected, namely due to various risk factors and uncertainties such
as changes in the business, economic and competitive situation, fluctuations in exchange rates, uncertainties regarding
legal disputes or investigations, and the availability of financial resources. The reader should therefore not
over-rely on these statements, particularly in connection with contracts or investment decisions. Varengold Bank AG
assumes no responsibility for updating the forward-looking statements contained in this communication.
Note
This announcement does not constitute an offer or invitation to subscribe for or purchase any securities of Varengold
Bank AG in the United States of America, Germany or any other jurisdiction. This announcement does not constitute a
recommendation regarding the placement of the securities described in this announcement.
Contact:
Ms. Sanja Schultz-Szabo (Head of Corporate Development)
End of Inside Information
20-Jun-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press
Releases.

Archive at www.eqs-news.com  
Language:     English 
Company:      Varengold Bank AG 

Große Elbstraße 39
22767 Hamburg
Germany

Phone:        +49 (0)40 / 668649-0 
Fax:          +49 (0)40 / 668649-49 
E-mail:       investorrelations@varengold.de 
Internet:     www.varengold.de 
ISIN:         DE0005479307 
WKN:          547930 
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, 

Tradegate Exchange
EQS News ID: 1929837

End of Announcement EQS News Service
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1929837 20-Jun-2024 CET/CEST

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June 20, 2024 05:08 ET (09:08 GMT)