DGAP-News: Solidly positioned: Half-year figures show improvement ++ Operating profit (EBIT) of EUR -0.5 million Assets under management of about EUR 900 million almost unchanged ++ Equity ratio stable at 78 percent
(firmenpresse) - DGAP-News: Altira AG / Key word(s): Half Year Results
Solidly positioned: Half-year figures show improvement ++ Operating
profit (EBIT) of EUR -0.5 million Assets under management of about EUR
900 million almost unchanged ++ Equity ratio stable at 78 percent
28.09.2012 / 16:01
---------------------------------------------------------------------
Altira AG ('Altira Group'), an asset management company focusing on
alternative investment strategies, improved its operating profit in the
first six months of 2012 slightly. At EUR -0.5 million, EBIT for the period
under report improved compared to the first half of the previous year
(H1/2011: EUR -0.6 million). In the current year, further adjusted
valuations on financial instruments led to negative financial results of
EUR -3.3 million in the first half year. Assets under management totalled
EUR 902 million, and thus showed a slight reduction (H2/2011: EUR 921
million). The solid performance is not least the result of a successful
focus on the core business segments.
In the 'Renewable Energies' business division, the team is currently
occupied with completing the construction of the 'Stability 2010' solar
fund and accompanying projects into their operating stages. At the same
time, the team is building up a new pipeline. Fundraising activities were
interrupted by the renewed discussions surrounding the cuts in subsidies
paid for photovoltaic systems under the German Renewable Energies Act
(EEG), which have triggered great uncertainty in the market. The adoption
of transitional regulations enabled the team to work deal-by-deal on
transactions.
In the 'Africa' business division, ADC African Development Corporation, a
listed business development company managed by Altira, reported the
successful placement in full of a warrant bond with a volume of EUR 40
million among existing and new investors. The proceeds from the warrant
bond were used to finance the subscription offer of USD 50 million at ABC
Holdings Limited, which operates under the brand name 'BancABC' in five
south-east African countries. Furthermore, ADC announced in the first half
of the year that, in its capacity as one of the leading members of an
international consortium of investors, it had agreed its participation in a
transaction to acquire a majority stake in Union Bank of Nigeria plc
('UBN').
Within the 'German 'Mittelstand'&Restructuring' business division, Heliad
reported positive consolidated earnings of EUR 4.3 million for 2011 and
implemented further company sales. The shareholdings did not form part of
Heliad's core investment and were therefore sold in the course of the
company streamlining its portfolio.
The public funds at VCH Vermögensverwaltung AG posted solid performances
compared with their competitors in the past half year and were mostly ahead
of the benchmark. The Pan-African fund VCH Africa (LU0563445195) was the
best performing fund, which reported an increase of more than eight percent
in the first six months of the year and a current year to date performance
of more than 22 percent (as of 9/28/2012). Temporary price gains with
commodities shares led to profit taking among our investors, and thus to
further outflows of funds. The funds VCH Africa, VCH Commodity Alpha and
VCH Emerging Markets Profiteure increased assets under management in a
difficult market environment.
Overall, at EUR 5.9 million, sales reduced by 12.4 percent (H1/2011: EUR
6.8 million). The gross performance, corresponding to the sum of sales and
other operating income (EUR 1.7 million; H1/2011: EUR 1.1 million) fell by
around 3.1 percent. At EUR -0.5 million, EBIT for the period under report
improved compared to the first half of the previous year (H1/2011: EUR -0.6
million). Earnings before taxes (EBT) amounted to EUR -3.7 million at the
reporting date (H1/2011: EUR -9.4 million). Earnings after taxes and
minority interests amounted to EUR -3.7 million (H1/2011: EUR -9.6
million).
The company had cash holdings of just over EUR 4.3 million and an equity
ratio of 78.3 percent at the end of the first half of 2012, the company
remains solidly financed. The company does not have any long-term
liabilities to banks.
The complete interim financial results are available for download at
www.altira-group.de under 'Reports' in the Investor Relations area.
++ About Altira Group
The Altira Group is an owner-managed, exchange-listed asset management
company focusing on alternative investment strategies for institutional as
well as private investors. It concentrates on both established and newly
emerging growth markets in the following areas of specialisation:
__ Renewable Energies&Commodities
__ Africa
__ German Medium-Sized Companies&Restructuring
++ Contact
Altira Aktiengesellschaft
Andreas Rösel
Tel: +49 69 719 12 80 0
E-Mail: investor-relations(at)altira-group.de
End of Corporate News
---------------------------------------------------------------------
28.09.2012 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: Altira AG
Grüneburgweg 18
60322 Frankfurt / Main
Germany
Phone: +49 (0)69 719 12 80 - 0
Fax: +49 (0)69 719 12 80 - 011
E-mail: info(at)altira-group.de
Internet: www.altira-group.de
ISIN: DE0001218063
WKN: 121806
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Open Market
(Entry Standard) in Frankfurt
End of News DGAP News-Service
---------------------------------------------------------------------
187022 28.09.2012
Themen in dieser Pressemitteilung:
solidly-positioned-half
year-figures-show-improvement-operating-profit-ebit-of-eur
0-5-million-assets-under-management-of-about-eur-900-million-almost-unchanged-equity-ratio-stable-at-78-percent
Unternehmensinformation / Kurzprofil:
Datum: 28.09.2012 - 16:01 Uhr
Sprache: Deutsch
News-ID 187811
Anzahl Zeichen: 5675
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 331 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Solidly positioned: Half-year figures show improvement ++ Operating profit (EBIT) of EUR -0.5 million Assets under management of about EUR 900 million almost unchanged ++ Equity ratio stable at 78 percent"
steht unter der journalistisch-redaktionellen Verantwortung von
Altira AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
