DGAP-News: ESTAVIS AG: Estavis Expands Apartment Retail Sales and Plans Portfolio Build-up
(firmenpresse) - DGAP-News: ESTAVIS AG / Key word(s): Quarter Results/Interim Report
ESTAVIS AG: Estavis Expands Apartment Retail Sales and Plans Portfolio
Build-up
14.05.2012 / 07:30
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- Nine-month result at EUR 0.5 million (previous year: EUR 0.7 million)
- Company sales up in apartment retailing, slow in other business areas
- EBIT margin stable at 9.8 percent
Berlin, 14 May 2012 - During the first nine months of its 2011/2012
financial year, the Estavis AG increased its sales in apartment retailing
to EUR 35.1 million (previous year: EUR 34.8 million). Given the company's
slow sales in its other business areas, the total turnover actually
declined year on year, dropping from EUR 43.9 million to EUR 40.5 million.
At 9.8 percent, the EBIT margin more or less matched the level of the same
period last year.
The consolidated income for the first nine months equalled EUR 0.5 million,
slightly undercutting the result of the prior-year period (EUR 0.7
million). Earnings before interest and taxes (EBIT) amounted to EUR 4.0
million (first nine months 2010/2011: EUR 4.3 million). The dip in earnings
is explained, in addition to lower revenues, by one-off factors that
determined the reference figure of the prior-year period. Earnings before
taxes came to EUR 0.9 million (prior-year period: EUR 1.1 million). The
equity ratio equalled 37.8 percent as of 31 March 2012 (31 December 2011:
41.5 percent).
'Residential German real estate continues to be very much in demand among
private as well as institutional investors from inside and outside Germany.
We intend to keep participating in this trend, and are creating the
necessary prerequisites by buying property portfolios suitable for
privatisation,' said Jacopo Mingazzini, Member of the Board of Estavis AG.
'For instance, we already secured essential sales potential for the coming
month by acquiring a portfolio of 214 apartments during the first quarter
of 2012. The turnover pipeline is well stocked, and this far beyond the end
of the ongoing financial year.'
Looking forward, Estavis AG will focus in particular on building up a
proprietary portfolio of high-yield real estate in addition to its
privatisation business. Said, Andreas Lewandowski, Member of the Board of
Estavis AG: 'The way demand has developed on the investment market makes it
reasonable to expect the price level to keep rising in the future. At the
moment, however, it is still possible at this time to invest at attractive
cost prices. At the same time, we are still looking at a very favourable
interest environment. It is this combination of affordable cost prices and
historically low interest rates that we intend to exploit in order to build
up a high-yield proprietary portfolio.'
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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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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169582 14.05.2012
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Datum: 14.05.2012 - 07:30 Uhr
Sprache: Deutsch
News-ID 145763
Anzahl Zeichen: 8372
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Kategorie:
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