DGAP-News: ESTAVIS AG: Estavis AG Concludes H1 of its 2011/12 FY with Stable Results
(firmenpresse) - DGAP-News: ESTAVIS AG / Key word(s): Half Year Results/Interim Report
ESTAVIS AG: Estavis AG Concludes H1 of its 2011/12 FY with Stable
Results
13.02.2012 / 07:30
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PRESS RELEASE
Estavis AG Concludes H1 of its 2011/12 FY with Stable Results
- Upturn in EBIT margin and equity ratio
- Outlook for the year as a whole remains positive
Berlin, 13 February 2012 - Estavis AG completed the first semester of its
2011/12 financial year with stable results, and increased its
profitability. The earnings figures more or less match the level of the
prior-year period while revenues softened slightly. The EBIT margin rose
once again, and currently stands at 9.4% (first semester 2010/11: 8.8%).
At EUR 0.42 million, the consolidated net profit during the first six
months showed a small year-on-year increase (first semester 2010/11: EUR
0.41 million); earnings before interest and taxes (EBIT) suffered a modest
setback year on year (first semester 2010/11: EUR 2.6 million). Earnings
before taxes were level with the first semester 2010/2011 at EUR 0.6
million. Revenues came to a total of EUR 27.2 million (previous year: EUR
29.9 million). The equity ratio showed a minor increase, and equalled 42.0%
by the balance sheet date of 31 December 2011.
'The results of the first semester provide a solid foundation for the
months to come. We have continued to pursue our ongoing projects according
to plan, and have moreover kept moving forward with the expansion of our
business activities. With our first commitment in the area of new housing
construction in October, and with the acquisition of a residential quarter
with 214 apartments this February, Estavis AG has tapped additional revenue
potential,' said Florian Lanz, CEO of Estavis AG. 'Given our corporate
structure and our project pipeline, we consider ourselves well positioned
to keep benefitting from the persistently favourable market environment,
especially on Berlin's residential real estate market.'
Continued Positive Outlook for the 2011/2012 Financial Year
With a view to the performance so far, the management board expects Estavis
AG to see a higher year-on-year result for the 2011/12 financial year as a
whole. At the same time, the prospects of increased revenues remain a
realistic goal. This estimate is based on the latest assessment of the
market environment in the markets relevant to Estavis AG, the company's
business performance, as well as the development of the project pipeline
and the sales and yield potential these represent.
About ESTAVIS:
ESTAVIS AG is a listed property company focusing on residential properties.
Through its purchasing network, which extends throughout Germany, ESTAVIS
AG identifies property portfolios and project developments with great
value-added potential and uses its management and development expertise to
harness this potential efficiently. The prime objective here is to
capitalise dynamically on the values of properties by marketing them as
portfolio sales or privatising them for tenants, owner-occupiers or
investors. The company's selling power results from its strong own sales
network, supplemented by the acquisition of the sales company Accentro
GmbH.
In addition to regular cash flow from the property portfolio acquired,
ESTAVIS AG develops its performance from income from property sales.
ESTAVIS AG is headquartered in Berlin and is listed on the Prime Standard
of the Frankfurt Stock Exchange (German Securities Code Number [WKN]:
A0KFKB).
Contact:
ESTAVIS AG
Investor&Public Relations
Tel: + 49 30 887 181 799
E-mail: ir(at)estavis.de
End of Corporate News
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13.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: ESTAVIS AG
Uhlandstr. 165
10719 Berlin
Germany
Phone: +49 (0)30 - 887 181 - 0
Fax: +49 (0)30 - 887 181 - 11
E-mail: info(at)estavis.de
Internet: http://www.estavis.de
ISIN: DE000A0KFKB3
WKN: A0KFKB
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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156401 13.02.2012
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Datum: 13.02.2012 - 07:30 Uhr
Sprache: Deutsch
News-ID 113579
Anzahl Zeichen: 6060
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Kategorie:
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