Accentro Real Estate AG

Earnings Release • Nov 23, 2007

News Details

Corporate | 23 November 2007 08:45

ESTAVIS AG confirms forecast for the 2007/2008 financial year

ESTAVIS AG / Forecast

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.

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-Portfolio transactions of over EUR 100 million in preparation
-Successful residential privatisation business expected in current quarter
-Positive business outlook not reflected in current stock market valuation
-Dividend yield at over 10% on the basis of planning for the 2007/2008
financial year and current stock price level

Berlin, 23 November 2007 - ESTAVIS AG has today confirmed its forecasts for
the current 2007/2008 financial year. Accordingly, the Company is expecting
an increase in revenues of over 50% to EUR 300 million and an EBIT margin
before one-time effects of 12% to 14%.

ESTAVIS AG is currently preparing the sale of several property portfolios
totalling over EUR 100 million, including a commercial portfolio of EUR 45
million. The Company expects to conclude these transactions in the current
second and third quarters of the current financial year (begin: 1 July
2007). Other ‘on demand’ portfolio transactions are in preparation.

Furthermore, ESTAVIS AG expects very positive business performance in the
area of residential privatisation during the second quarter. The initial
consolidation of B&V GmbH as at 31 October 2007 will contribute to this.
With a planned sales volume of over 1,000 individual units in this
financial year, the ESTAVIS Group is one of the leading suppliers in the
area of residential privatisation in Germany.

At around EUR 100 million, the current market capitalisation of ESTAVIS AG
is equivalent to reported equity of the Company and does not reflect the
positive performance of the Company according to the view of the Company’s
Board of Management. On the basis of the forecast for the current financial
year, a dividend yield of over 10% is calculated on the basis of the
current stock price level.

As already announced, ESTAVIS AG is planning to offer the Company’s
shareholders an attractive dividend yield. A dividend of approximately 50%
of the consolidated profit in the 2007/2008 financial year shall be
distributed.

Supplementary information on the forecast for the 2007/2008 financial year:
ESTAVIS AG is expecting an EBIT margin of 12% to 14% before one-time
effects. These one-time effects are primarily in connection with the
business acquisitions implemented by ESTAVIS AG (Hamburgische Immobilien
Invest SUCV AG and B&V GmbH). Due to the purchase price allocation
specified by the International Financial Reporting Standards (IFRS),
profits of the acquired companies from pending transactions which existed
at the time of acquisition are offset against the goodwill and are thus not
reported in ESTAVIS AG’s current operating profit.
The commercial transfer of B&V GmbH took place as at 1 January 2007, so
that cash and cash equivalents generated in this period accrue to ESTAVIS
AG in full.

About ESTAVIS AG
ESTAVIS AG (ISIN: DE000A0KFKB3) is a leading market marker between private
property vendors and institutional purchasers of property portfolios.
ESTAVIS purchases individual properties in line with precisely defined
criteria, bundles them into structured portfolios and then sells them
primarily ‘on demand’ to institutional investors from Germany and abroad.
ESTAVIS purchases the property with the help of a comprehensive network,
including over 500 experienced property brokers. Currently, around 4,000
residential and commercial units are sold within the scope of portfolio
transactions to institutional investors from Germany and abroad every
financial year.
Furthermore, with an expected volume of over 1,000 residential units sold
in the current financial year, the ESTAVIS Group is one of the leading
suppliers in the strongly growing market segment of residential
privatisation. ESTAVIS AG has significantly strengthened its activities in
this area with the take-over of B&V Bauträger- und Vertriebsgesellschaft
für Immobilien mbH in October 2007.
Financial funds of EUR 56 million (gross) accrued to ESTAVIS AG when it
went public on 2 April 2007 (Prime Standard, Frankfurt Stock Exchange).

Contact:
ESTAVIS AG - Peter Vogt - Investor & Public Relations
Tel: + 49 (0)30 887 181 799
email: ir(at)estavis.de
Internet: www.estavis.de

Contact:
ESTAVIS AG - Peter Vogt - Investor & Public Relations - Tel: + 49 30 887
181 799 - E-Mail: ir@estavis.de

23.11.2007 Financial News transmitted by DGAP

Language: English
Issuer: 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, Düsseldorf, München, Stuttgart

End of News DGAP News-Service

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