Performance

Track record (current accounts)

A company that builds on trust must be able to show why it deserves this trust. The yardstick by which CONTI measures itself is a meaningful track record based on completely documented and audited current accounts. The current accounts from 2014 show that it was possible to achieve significant dividends despite the ongoing difficult market conditions. For example, dividends of approx. € 75 million, of which about € 29 million came from ship sales, were paid out to the shareholders. In addition, the fleet achieved an amortization of approx.  € 211 million, of which about € 105 million came from unscheduled repayments. Dividend payments to shareholders are subject to the so‐called tonnage tax, i. e. a general calculation that depends on the size of the ship, irrespective of actual profits or losses, is made instead of the „normal“ profit calculation. The tonnage tax was introduced in 1999 to conform to European maritime law and to strengthen the competitiveness of German ship owners.

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Transparency & Performance Report

A company that builds on trust must be able to show why it deserves this trust. The yardstick by which CONTI measures itself is a meaningful track record based on completely documented and audited current accounts. The current accounts from 2014 show that it was possible to achieve significant dividends despite the ongoing difficult market conditions. For example, dividends of approx. € 75 million, of which about € 29 million came from ship sales, were paid out to the shareholders. In addition, the fleet achieved an amortization of approx.  € 211 million, of which about € 105 million came from unscheduled repayments. Dividend payments to shareholders are subject to the so‐called tonnage tax, i. e. a general calculation that depends on the size of the ship, irrespective of actual profits or losses, is made instead of the „normal“ profit calculation. The tonnage tax was introduced in 1999 to conform to European maritime law and to strengthen the competitiveness of German ship owners.

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Success rate (past performance)

A look at the past performance shows how successfully CONTI has steered its fleet in the past. The renowned Deutsches Finanzdienstleistungs‐ Institut GmbH (DFI) research and analysis firm has been rating the current account balances and investment offers of suppliers of tangible assets for many years. With a history of 40 years, DFI is one of the most established and respected independent financial analysts in the market.

In its performance analysis of CONTI’s current accounts, DFI comes to the following conclusion: "50 funds with overall excellent dividends for investors – in view of the market environment – have already been exited, half of them in 2013 and 2014. Although a large part of the exits took place in a very weak market phase, 46 of the liquidated funds achieved an overall proit for investors." The calculated internal rate of return (IRR) amounted to 10.9% per year. Investors of the fund companies with a TR < 100% have received an average of 74.0% of the initial investment ater taxes (excluding premium). For all the funds, the total return is on average 150.2% of the investment.

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Ships in operation (ongoing performance)

The performance of the ships in operation is the result of 52 marine enterprises with an average period of approx. 9 years as of the balance sheet date of 12/31/2014. The total return (TR), which is calculated from disbursements, repayments, and balance sheet liquidity reserves based on the invested capital, shows that the excess liquidation of the CONTI fleet largely offsets the underpayments. 

The prospectus requirements were therefore satisfied to a degree of about 93%. The average period of approx. 9 years results in a TR of about 18% p. a., confirming CONTI’s extraordinary development in comparison with normal market performance. In its performance analysis, DFI also writes: "Although the target‐actual performance comparison of the current funds is significantly affected by the continuing weak charter markets, the performance lies considerably above that of the few competitors […]. Overall, therefore, the CONTI group’s current accounts for 2014 are to be assessed – as in previous years – as excellent."

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Contact

CONTI Holding GmbH & Co. KG
Paul-Wassermann-Str. 5
81829 München

Telefon:
+49 89 456550-0

Telefax:
+49 89 456550-55