DGAP-News: ESTAVIS AG: Positive Result Expected for 2012/13
(firmenpresse) - DGAP-News: ESTAVIS AG / Key word(s): Final Results
ESTAVIS AG: Positive Result Expected for 2012/13
27.09.2012 / 07:30
---------------------------------------------------------------------
- Write-down of legacy debt leads to balance sheet deficit
- Restructuring effort mastered during 2011/12 financial year
Berlin, 27 September 2012 - As the annual accounts for the 2010/11
financial year show, ESTAVIS AG (ISIN: DE000A0KFKB3) has implemented the
reorientation of its business model, and thus cleared the way for the
company's ongoing development. 'The burdens of previous years are now off
the table,' said Andreas Lewandowski who has been a Member of the Board of
Estavis AG since May. 'We expect the ongoing portfolio set-up to deliver
stable positive contributions to our operating income in the future.
Together with our rather brisk apartment retailing business, this will
ensure a positive consolidated income for the years ahead.'
The focus will now be on setting up a residential property portfolio. The
first acquisition in this context has already been transacted, and
negotiations for the next portfolio acquisitions are under way. The
lucrative apartment retailing business, which is conducted through the
Estavis subsidiary Accentro GmbH, and which involves both the sales of
proprietary holdings and the provision of retailing services to third
parties, will be continued. Estavis is in the process of divesting itself
of the project development and listed property marketing divisions, which
will relief the company of considerable costs.
Some book losses incurred through the accelerated disposal of property
developments not yet started were accepted. Moreover, certain legacy
receivables were written off, causing Estavis AG to conclude the 2011/12
financial year with a loss of 2.95 million Euros all things considered.
The result was also impacted by the fact that the final construction stage
of the 'Glanzfilmfabrik' development project in Berlin-Köpenick was not
completed until after the balance sheet date of 30 June 2012, and thus did
not contribute to earnings during the 2011/12 financial year.
OVERVIEW OF KEY RATIOS FOR THE 2011/12 FINANCIAL YEAR
2011/12 financial year (01 July 2011 through 30 June 2012) - reference
period: 2010/11 financial year (01 July 2010 through 30 June 2011)
- Revenues: EUR 51.3 million (previous year: EUR 57.8 million)
- Total operating performance: EUR 52.9 million (previous year: EUR 56.6
million)
- EBIT: EUR 1.4 million (previous year: EUR 4.9 million)
- Consolidated income: EUR -2.95 million (previous year: EUR 0.7 million)
- Earnings per share: -21 cents (previous year: 7 cents)
The complete annual report for the 2011/12 financial year will be available
to download as of 27 September 2012 at
http://www.estavis.de/investor-relations/finanzberichte (German version)
and http://www.estavis.de/en/investor-relations/financial-reports (English
version).
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 with great value-added potential, and
uses its management expertise to harness this potential efficiently. In
addition to regular cash flow from the property portfolio acquired, ESTAVIS
AG develops its performance from income from privatisation proceeds.
ESTAVIS AG is headquartered in Berlin and is listedon 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
Stockheim Media GmbH
Dr. Hubert Becker
Tel.: + 49 221 420 75 24
E-Mail: hb(at)stockheim-media.com
End of Corporate News
---------------------------------------------------------------------
27.09.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
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
---------------------------------------------------------------------
186664 27.09.2012
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: EquityStory
" alt="Rival Technologies Inc.: First License of TRU TechnologyDatum: 27.09.2012 - 07:30 Uhr
Sprache: Deutsch
News-ID 187176
Anzahl Zeichen: 11061
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 246 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: ESTAVIS AG: Positive Result Expected for 2012/13"
steht unter der journalistisch-redaktionellen Verantwortung von
ESTAVIS AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
