'S-HERTOGENBOSCH, Netherlands, May 11, 2005 (PRIMEZONE) -- At the presentation of the 2004 annual results on 17 March 2005, Van Lanschot NV announced it expected a further increase in earnings per share in 2005. At the General Meeting of Shareholders held today, the Bank announced an upward adjustment to this outlook. Barring unforeseen circumstances, it now believes that the increase in operating earnings per share(1) in 2005 will be in line with the medium-term target of an average of 10% per annum.
"During the early months of 2005, commission income in particular increased. Another positive factor was the excellent progress made in integrating CenE Bankiers, thanks to which it seems likely that the anticipated cost synergies will actually be realised", says Floris Deckers, chairman of the Board of Managing Directors of Van Lanschot. CenE Bankiers, acquired at the end of September 2004, will make a full-year contribution to the results of Van Lanschot for the first time in 2005.
The profit outlook announced is based on earnings per share for 2004 of EUR 4.22. This is derived from the net profit for 2004 excluding the acquisition of CenE Bankiers EUR 119.4 million), plus the profit for the fourth quarter contributed by CenE Bankiers (net profit of EUR 4.8 million), less the preference dividend distributed (EUR 3.4 million).
(1)Operating earnings per share: earnings per share adjusted for premium amortisation and the interest on the perpetual loan.
's-Hertogenbosch, 11 May 2005
The press release can be downloaded from the following link:
http://hugin.info/133415/R/993868/150334.pdf
F. van Lanschot Bankiers NV is the oldest independent bank in the Netherlands, with a history dating back to 1737. The Bank focuses on three target groups: high net-worth individuals, medium-sized businesses (including family businesses) and institutional investors. Van Lanschot stands for high-quality services founded on integrated advice, personal service and customised solutions. Van Lanschot NV is listed on the Euronext Amsterdam Stock Market.
Press contact Van Lanschot: J.A. Stein, Corporate Communications Manager Telephone +31 (0)73 548 33 50; mobile +31 (0)6 53 67 36 87; fax +31 (0)73 548 32 04 -0-