DGAP-News: ESTAVIS AG: Concluded Repositioning Drive Defines Nine-Month Result +++ Turnaround in Q4 and Positive Year-End Result Expected
(firmenpresse) - DGAP-News: ESTAVIS AG / Key word(s): Interim Report
ESTAVIS AG: Concluded Repositioning Drive Defines Nine-Month Result
+++ Turnaround in Q4 and Positive Year-End Result Expected
13.05.2013 / 07:30
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- Positive performance of strategic business lines 'Privatisation' and
'Portfolio'
- Forecast for positive year-end result confirmed
- Repositioning drive concludes with the sales of the remaining project
developments in the ongoing quarter
Berlin, 13 May 2013 - During the first nine months of its 2012/2013
financial year, ESTAVIS AG completed its strategic repositioning drive, and
achieved significant milestones in the drive to implement its new corporate
strategy. In particular, the proprietary portfolio was substantially
expanded. Also, the repositioning process of the ESTAVIS Group was
successfully concluded during the ongoing fourth quarter with the wind-up
of the discontinued project development activities, including the disposal
of the last remaining plots and the corresponding receipt of payments.
Continued Positive Performance of the Business Lines 'Portfolio' and
'Privatisation'
The stable business performance in the company's two strategic business
lines 'Portfolio' and 'Privatisation' and the resulting positive
contributions to operating income were offset during the reporting period
by encumbrances incurred in conjunction with the wind-up of discontinued
activities in the project development sector and expenditures for the
premature repayment of a mezzanine loan. That being said, the Executive
Board reaffirmed its expectation to see a clearly positive result in the
ongoing fourth quarter and by the end of the 2012/2013 financial year as a
whole.
Equity Ratio Raises to 35.1 Percent
Consolidated revenues during the first nine months added up to EUR 25.8
million (prior-year period: EUR 42.6 million); the total operating
performance equalled EUR 27.5 million (prior-year period: EUR 39.1
million). The operating result amounted to EUR 0.3 million, whereas the
consolidated income of the first nine months equalled EUR -3.5 million
(prior-year period: EUR 0.5 million). The consolidated income at the end of
the third quarter equalled EUR -0.9 million (prior-year period: EUR 0.3
million). The equity ratio rose to 35.1 percent as of 31 March 2013 (30
June 2012: 33.3 percent).
Said Torsten Cejka, Member of the Executive Board of ESTAVIS AG: 'The
development during the first nine months of the 2012/2013 financial year
show that we are on the right track, now that the strategic realignment is
in place. With the repositioning concluded, the financial structure
optimised, and the portfolio significantly expanded, we have cleared the
way for the future growth of ESTAVIS in its core business lines of
Portfolio and Privatisation, and the fact will begin to be reflected in the
positive result of the fourth quarter.'
'The parameters on the markets in which ESTAVIS is actively engaged remain
favourable. In many places in Germany we noted that the demand for rental
apartments by owner occupiers and private investors clearly exceeds
existing supply, and that the construction pipeline will hardly accommodate
it. At the same time, we registered a sustained interest in tangible asset,
which has particularly positive ramifications for our privatisation
business,' said Member of the Executive Board of ESTAVIS AG.
About ESTAVIS:
ESTAVIS AG is a listed property company focusing on residential properties.
It is active in the two business lines of portfolio management and housing
privatisation, and continuously expands these by acquiring interesting
properties and portfolios. 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
Dr. ZitelmannPB. GmbH
Holger Friedrichs
Tel.: + 49 30 72 62 76 157
E-mail: friedrichs(at)zitelmann.com
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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210656 13.05.2013
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Datum: 13.05.2013 - 07:30 Uhr
Sprache: Deutsch
News-ID 258950
Anzahl Zeichen: 8260
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