Corporate | 2 September 2011 20:15
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Altira AG / Key word(s): Half Year Results
Frankfurt am Main, 2. September 2011 – Asset management company Altira AG ('Altira Group'), which focuses on alternative investment strategies, announced provisional figures today for the first half-year of 2011. Assets under management increased in the first six months to EUR 801 million, representing a 28 percent increase over 30 June 2010 (H1 2010: EUR 625 million). Sales revenue for the first six months also rose slightly, standing at EUR 6.8 million (H1 2010: EUR 6.7 million). EBITDA for the period under review stood at EUR -0.4 million, a decrease from the previous year (H1 2010 EUR 0.5 million). As a result of write-downs on financial investments and securities of about EUR 9 million, the after-tax result for the period amounted to EUR -9.6 million (H1 2010: EUR 0.2 million). Around two thirds of the write-downs recorded in the financial statements for the first half-year have no impact on liquidity or equity. Around one third of the write-downs comprise market-related value adjustments of listed securities which similarly have no impact on liquidity. Altira Group's equity ratio stood at 86 percent at 30 June 2011, bringing the equity value per share to around EUR 10 per share. There are no long-term external liabilities. The Group has liquid resources of around EUR 5.9 million on the balance-sheet date. Due to the write-downs, the half-year recorded a loss per share of EUR -2.11 (H1 2010: profit per share of EUR 0.03). David Zimmer, Altira Group CEO: 'In the first six months of 2011, our business as a whole has developed relatively unchanged. Based on current trends in the equity markets, we decided to write down some holdings this year. However, we continue to have a strong equity basis and the course is set for future growth. The major success achieved in sales of the 'Stabilität 2010' ('Stability 2010') solar fund, for example, and our private equity fund-of-funds as well as the launch of new products in the Commodities and Africa segment reaffirm our strategy of focusing on alternative investments in the three segments of Renewable Energies & Natural Resources, Africa and German 'Mittelstand' & Restructurings.' The half-year figures have not been audited. The complete HY report of Altira Group will be published in September 2011.
The Altira Group is an owner-managed, exchange-listed asset management company focusing on alternative investment strategies for institutional as well as private investors. In that area, it concentrates on both established as well as newly-developing, forward-looking growth markets in connection with its core areas of focus
__ Renewable Energies & Natural Resources
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| 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@altira-group.de | |
| Internet: | www.altira-group.de | |
| ISIN: | DE0001218063 | |
| WKN: | 121806 | |
| Listed: | Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry Standard in Frankfurt | |
| End of News | DGAP News-Service |
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