DGAP-Adhoc: ADC's Q1 2013 results show significant growth ++ Profit before tax of EUR 10.7 million driven by growth in banking operations ++ Strong financial forecast for 2013

ADC African Development Corporation GmbH & Co. KGaA / Key word(s): Quarter
Results/Forecast

10.07.2013 14:50

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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ADC African Development Corporation GmbH & Co. KGaA (ADC), ISIN
DE000A1E8NW9, announces that its profit and loss accounts and balance sheet
developed very positively in the first quarter of 2013. As a result, the
Group achieved net interest income of EUR 20.5 million and total operating
income of EUR 37.9 million in Q1 2013 leading to a profit before tax in Q1
2013 of EUR 10.7 million compared to a loss of EUR -10.2 million in the
prior year period and a net profit of EUR 7.7 million in Q1 2013. At the
end of the first quarter, ADC's assets totaled EUR 1,433.6 million, up 1.4%
since year-end 2012, loans and advances growing 8.1% to EUR 958.4 million
and deposits mainly stable at EUR 1,051.0 million while total equity
increased by 8.4% from the end of 2012 reaching EUR 167.5 million.

ADC's Q1 2013 profit is mainly attributable to the very successful quarter
at BancABC and a significant equity contribution from ADC's indirect
investment in Union Bank of Nigeria (UBN). The BancABC banking segment
achieved a quarterly result after tax of EUR 6.4 million, a 327% increase
from BancABC subgroup Q1 2012 results prior to consolidation. UBN delivered
a quarterly result after tax of EUR 37.8 million, a 49% increase at group
level from the Q1 2012 results.

In light of the positive Q1 2013 results and growth forecasts of its
banking operations, ADC aims for a consolidated group net profit of EUR
20.0 million by the end of 2013.

The Interim Report Q1 2013 will be made available on ADC's website:
www.african-development.com/en/investor-relations/investor-information/fin
ancial-reports/

++ End of the ad-hoc announcement and explanations ++

Dirk Harbecke, CEO of ADC, commented: 'ADC has seen significant changes
over the course of the last 12-18 months with new investments and a new
corporate structure. The Q1 results are representative of ADC's short-term
growth potential, showing our investors for the first time that the
transformation is paying-off. Forecasts calculate a group net profit
projection of EUR 20.0 million by the end of this year, indicating strong
potential for ADC's share. Growth forecasts indicate that earnings are
poised to double to EUR 40.0 million by 2014, enabling a possible first
dividend payment to ADC investors for the 2014 fiscal year. ADC's Annual
General Meeting on 14 August 2013 will take a decision to strengthen the
Board with three prominent members and to undertake a significant capital
increase to enable expansion. These decisions will accelerate ADC's growth
prospects and solidify ADC's vision to create a geographically focused
pan-African banking group in key markets, leading in terms of size and
profitability.'

About ADC
ADC African Development Corporation (ADC) (ISIN: DE000A1E8NW9; Bloomberg:
AZC.GR, www.african-development.com), is a German listed, emerging
pan-African banking group. ADC has a strong footprint in Southern Africa
via BancABC, a regional commercial banking platform operating in Botswana,
Mozambique, Tanzania, Zambia and Zimbabwe as well as in West Africa via
Union Bank of Nigeria. Parallel to its banking operations, ADC has a
private equity portfolio active in growth markets across sub-Saharan
Africa. ADC follows an active management approach with a team of experts
that comprise operational banking management, investment banking and
merchant banking expertise. ADC optimizes its risk-return profile through a
political risk insurance solution offered by the MIGA (World Bank Group).

Contact:
Investor Relations
investor-relations@african-development.com
T +49 69 719 12 80 119

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Language: English
Company: ADC African Development Corporation GmbH & Co. KGaA
Grüneburgweg 18
60322 Frankfurt/Main
Germany
Phone: +49 69 719 12 80 119
Fax: +49 69 719 12 80 999
E-mail: info@african-development.com
Internet: www.african-development.com
ISIN: DE000A1E8NW9
WKN: A1E8NW
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf

End of Announcement DGAP News-Service

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