Ad-hoc | 13 November 2009 15:29
ESTAVIS AG / Final Results/Forecast
13.11.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Berlin, 13 November 2009 - ESTAVIS AG (ISIN: DE000A0KFKB3) today announced
its audited consolidated results for the 2008/2009 financial year. The key
figures are in line with or partly exceed the preliminary figures published
on 23 September 2009.
ESTAVIS AG generated revenues from continued activities of EUR 70.7 million
(previous year: EUR 120.2 million) in the 2008/2009 financial year.
Revenues from continued activities in the sale of apartments increased by
40% to EUR 62.1 million (previous year: EUR 44.6 million). However,
revenues in portfolio trading fell to EUR 8.2 million (previous year: EUR
75.6 million).
In its core retail trading business area (continued activities), 660
residential units were sold to private investors (previous year: 448).
Without taking into account unrealised changes in the market value of real
estate inventories or impairment of receivables, ESTAVIS AG recorded
earnings before interest and taxes (EBIT) from continued activities of EUR
-5.3 million for the 2008/2009 financial year.
Unrealised changes in the market value of real estate inventories (EUR
-15.1 million) and impairment of receivables (EUR -2.9 million) led to a
significant, non-cash reduction in earnings. The consolidated net loss for
the period from continued activities is EUR -27.9 million.
The consolidated net loss for the period from discontinued activities
totalled EUR -18.3 million. The consolidated net loss form continued and
discontinued activities for the period totalled EUR -46.2 million.
The equity ratio was 24 percent at 30 June 2009 (30 June 2008: 38 percent).
Not taking into account assets and liabilities held for sale from
discontinued activities, the equity ratio was at 31 percent.
Positive outlook for the 2009/2010 financial year
For the 2009/2010 financial year, the ESTAVIS AG Management Board is
expecting Group revenue with the range of EUR 75.0 million and EUR 85.0
million, corresponding to a moderate upturn against the comparative figures
of the previous year (EUR 70.7 million). A return to profitability at net
consolidated result level is expected for the 2009/2010 financial year. The
assessment of the expected revenue and profit trend for the 2009/2010
financial is based largely on the volume of apartment sales notarised as of
the reporting date and to the end of the first quarter of 2009/2010.
Notarised apartment sales have a high probability of generating revenue and
earnings in the 2009/2010 financial year.
KEY FIGURES (FROM CONTINUED ACTIVITIES)
Financial year 2008/2009 (1 July 2008 - 30 June 2009) - Comparison period:
Financial year 2007/2008 (1 July 2007 - 30 June 2008)
Total sales: EUR 70.7 million (EUR 120.2 million)
Sales, apartments: EUR 62.1 million (EUR 44.6 million)
Total operating performance: EUR 79.1 million (EUR 109.2 million)
Earnings before interest and taxes (EBIT) EUR -23.4 million (EUR -4.4
million)
Consolidated result: EUR -27.9 million(EUR -3.6 million)
Earnings per share: EUR -3.45 (EUR -0.45)
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Information and Explaination of the Issuer to this News:
The Annual Report 2008/2009 is expected to be available on the web pages of
ESTAVIS AG on Friday, 13 November 2009, at around 7.00 pm (German version:
http://www.estavis.de/investor-relations/finanzberichte, for the English
version go to
http://www.estavis.de/en/investor-relations/financial-reports).
About ESTAVIS
ESTAVIS offers the right solutions for institutional and private investors
in the field of residential property investments in Germany. This includes
the planning of new or the optimisation of existing individual or portfolio
investments, whether direct or indirect. In this process, the entire
value-added chain is oriented towards a successful exit - from property
assembly through optimisation to disposal. The key success factor and
competitive advantage of ESTAVIS is the strong sales network towards
individual investors. The ESTAVIS AG has its registered office in Berlin
and is listed in the prime standard of the Frankfurt Stock Exchange
(Security Identification Number): A0KFKB).
Contact:
ESTAVIS AG - Peter Vogt - Investor & Public Relations - Tel: + 49 30 887
181 799 - E-Mail: ir@estavis.de
13.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de
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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@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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