ESTAVIS AG / Preliminary Results 20.11.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Berlin, 20 November 2009 - ESTAVIS AG (ISIN: DE000A0KFKB3) recorded revenue growth of around 11% and returned to profitability based on its provisional figures for the first quarter of 2009/2010. With these results, the reorientation of ESTAVIS AG is starting to bear fruit as planned. Revenue increased to EUR 22.1 million after EUR 20.0 million in the prior quarter. This positive development was attributable in particular to the growth in the Company's core activities involving listed properties, which offer particular tax depreciation allowances to private investors in accordance with section 7 of the German Income Tax Act. ESTAVIS is pursuing the objective of becoming the leading German provider for the individual sale of residential property to private investors. With 168 units notarized in the first quarter of 2009/2010, the Company is on the right path. ESTAVIS AG reported positive earnings before interest and taxes (EBIT) of EUR 2.1 million (previous year: EUR 2.4 million). Earnings before taxes (EBIT) amounted to EUR 1.2 million (previous year: EUR 3.2 million). This positive earnings performance was due in particular to revenue growth and the significant improvement in cost structures within the Company. 'We are delighted to have achieved a turnaround with our results for the first quarter,' commented Florian Lanz, Chief Executive Officer of ESTAVIS AG. 'The course of business serves to confirm the validity of our reorientation with a focus on business segments with intrinsic value. At the same time, we are aware that we still have some way to go in implementing our new strategy. We are extremely confident that we will achieve our targets for the current financial year.' Positive outlook for the 2009/2010 financial year confirmed Based on business development in the first quarter, the Management Board has confirmed its outlook for the 2009/2010 financial year. Consolidated revenue is forecast to increase year-on-year to between EUR 75.0-85.0 million (previous year: EUR 70.7 million), while the Company is expected to return to profitability in terms of consolidated earnings. The full report on the first quarter of 2009/2010 will be published in German and English on 25 November 2009. About ESTAVIS ESTAVIS offers the right solutions for institutional and private investors in the field of residential property investments in Germany. This includes the planning of new or the optimisation of existing individual or portfolio investments, whether direct or indirect. In this process, the entire value-added chain is oriented towards a successful exit - from property assembly through optimisation to disposal. The key success factor and competitive advantage of ESTAVIS is the strong sales network towards individual investors. The ESTAVIS AG has its registered office in Berlin and is listed in the prime standard of the Frankfurt Stock Exchange (Security Identification Number): A0KFKB). Contact: ESTAVIS AG - Peter Vogt - Investor & Public Relations - Tel: + 49 30 887 181 799 - E-Mail: ir@estavis.de 20.11.2009 Financial News distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|] --------------------------------------------------------------------------- Language: English Company: ESTAVIS AG Uhlandstr. 165 10719 Berlin Deutschland Phone: +49 (0)30 - 887 181 - 0 Fax: +49 (0)30 - 887 181 - 11 E-mail: info@estavis.de Internet: http://www.estavis.de ISIN: DE000A0KFKB3 WKN: A0KFKB Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Düsseldorf, Hamburg, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: ESTAVIS AG achieves earnings turnaround in first quarter of 2009/2010 +++ Preliminary key figures: revenue EUR 22.1 million; EBIT: EUR 2.1 million; EBT: EUR 1.2 million +++ Revenue and profit forecasts for 2009/2010 financial year confirmed
| Source: EQS Group AG