DGAP-News: ESTAVIS AG achieves positive consolidated result in the first nine months of 2009/10
(firmenpresse) - ESTAVIS AG / Quarter Results
12.05.2010 08:30
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Berlin, 12 May 2010 - In the first nine months of the 2009/10 financial
year (1 July 2009 - 31 March 2010), ESTAVIS AG achieved a positive
consolidated result of EUR 0.7 million (previous year EUR -9.4 million).
Revenues in the reporting period came to EUR 49.2 million (previous year:
EUR 57.1 million) and were mainly attributable to the core business field
of retail trading. Altogether 499 residential units (previous year: 535)
were sold.
Earnings before interest and taxes (EBIT) amounted to EUR 3.2 million
(previous year: EUR -4.4 million). Pre-tax profit (EBT) increased to EUR
0.7 million (previous year: EUR -7.9 million).
In the third quarter of the financial year, the revenue and earnings trend
was impaired by the prolonged winter weather. At some renovation properties
this resulted in delays in the completion and handover of apartments.
However, these delays will be largely made good in the current fourth
quarter of the financial year.
ESTAVIS currently has some listed property projects with a future sales
volume of around EUR 120 million. These include properties undergoing
renovation with a sales volume of some EUR 40 million. Following completion
of the renovation and handover to the owner, the properties will be
recognized in sales and earnings.
'We are well on the way towards achieving a return to the profit zone in
this financial year and thereby fulfilling our most important annual
target,' said Florian Lanz, CEO of ESTAVIS AG. 'At the same time, we are
making good progress in focusing our business model on future growth and
improved earnings power.'
Positive result expected in 2009/10 financial year
Based on the business performance in the first nine months, the Management
Board expects retail trading to remain stable and for ESTAVIS AG to close
the 2009/10 financial year with a positive result. The Management Board
continues to consider revenues in a range from EUR 75.0 million to EUR 85.0
million (previous year EUR 70.7 million) to pose an achievable, albeit
ambitious, target. Reaching this target depends primarily on the successful
conclusion of sales negotiations currently underway.
The complete interim report for the first nine months of the 2009/2010
financial year is available for download in German and English at
http://www.estavis.de/investor-relations/finanzberichte and
http://www.estavis.de/en/investor-relations/financial-reports,
respectively.
About ESTAVIS
ESTAVIS offers institutional and private investors bespoke solutions in the
context of residential real estate in Germany. Options extend from the
conceptualisation of new commitments all the way to the liquidation of
existing direct or indirect single or portfolio investments. To this end,
ESTAVIS will orient the entire supply chain to a successful exit, including
acquisition, optimisation, and eventual sale. An essential success factor
and competitive advantage of ESTAVIS is the company's clout in property
retailing. ESTAVIS AG is seated in Berlin, and is listed in the Prime
Standard of the Frankfurt stock exchange (ISIN: DE000A0KFKB3).
Contact:
ESTAVIS AG - Peter Vogt - Investor&Public Relations - Tel: + 49 30 887
181 799 - E-Mail: ir(at)estavis.de
12.05.2010 08:30 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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(at)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
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Datum: 12.05.2010 - 08:30 Uhr
Sprache: Deutsch
News-ID 20746
Anzahl Zeichen: 0
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Kategorie:
Business News
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