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