Corporate | 24 February 2014 07:29
DGAP-News: ESTAVIS AG / Key word(s): Half Year Results/Interim Report
24.02.2014 / 07:29
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- EBIT: 3.8 million euros (prior-year period: 0.02 million euros)
- Consolidated income: 0.1 million euros (prior-year period: -2.7 Million
euros)
- Sales revenue from privatisation match prior-year record of 9.1 Million
euros
- Rental income in the Portfolio segment doubled at 5.0 million euros
(prior-year period: 2.4 million euros)
Berlin, 24 February 2014 - During the first semester of its 2013/14
financial year, ESTAVIS AG substantially increased its funds from
operations (FFO), realising a positive consolidated income of 0.1 million
euros after a loss of 2.7 million euros at the end of the prior-year
period. The EBIT at the end of the first six months of the ongoing
financial year came to 3.8 million euros (prior-year period: 0.02 million
euros). The gross turnover totalled 16.1 million euros (prior-year period:
18.0 million euros).
Record Sales in Apartment Retailing
In the privatisation business line, the record sales volume of the previous
year was matched again at 9.1 million euros. "Fuelled by the persistently
high demand for housing, we exploited our far-reaching sales channels and
once more achieved an excellent result," said Jacopo Mingazzini, Member of
the Board of Estavis AG. "That being said, the interest that foreign buyers
have been showing specifically for the Berlin market remains sky high." He
went on to say that the company will step up its efforts in apartment
retailing as well as its housing privatisation services.
Rent Revenues More than Doubled
In the Portfolio business segment, turnover rose from 5.0 million euros, up
from 4.1 million euros reported for the prior-year period. For the first
time, it was composed purely of rent revenues, which more than doubled in
the wake of the portfolio expansion that Estavis AG executed as planned
over a one-year period (prior-year period: 2.4 million euros). "Additional
acquisitions in Berlin and Saxony enabled us to massively increase our rent
revenues and keep expanding our residential portfolio," said Torsten Cejka,
also Member of the Management Board of Estavis AG.
Outlook positive
Due to the positive trend in the Portfolio business segment, and the robust
sales figures in privatisation, the altogether sound situation on the
housing market, all of which is reflected in great semi-annual results, the
Management Board confirmed its forecast that the group will report a
positive consolidated income at the end of the 2013/14 financial year
again.
About Estavis:
Estavis AG is a listed property company focusing on residential properties.
The company buys up selected housing portfolios for the purpose of managing
them long-term. Accentro, a subsidiary of ESTAVIS and the company's second
mainstay, is Germany's market leader in housing privatisations as a
service. 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@estavis.de
Dr. ZitelmannPB. GmbH
Holger Friedrichs
Tel.: + 49 30 72 62 76 157
E-mail:
friedrichs@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@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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