Accentro Real Estate AG

Earnings Release • Nov 16, 2007

News Details

Ad-hoc | 16 November 2007 07:18

ESTAVIS AG publishes results for the first quarter of 2007/2008 and confirms outlook

ESTAVIS AG / Quarter Results

Release 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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• Clear rise in revenues and earnings
• Portfolio sales of over EUR 100 million currently in preparation
• Outlook confirmed for current financial year

KEY FIGURES FOR Q1 2007/2008 (comparable previous year’s period: Q1
2006/2007):
Revenues EUR 45.5 million (previous year: EUR 13.2 million); total
operating performance EUR 45.7 million (previous year: EUR 13.8 million);
gross margin 18.8% (previous year: 17.7%); EBIT (operating profit + profit
from affiliates) EUR 1.3 million (previous year: EUR 1.1 million); pre-tax
profit EUR 0.9 million (previous year: EUR 0.7 million); net profit EUR 0.9
million (previous year: EUR 0.5 million); earnings per share EUR 0.15
(previous year: EUR 0.09); sales volume in units 745 (previous year: 294);
sales volume in square metres 51,971 (previous year: 16,261).

Berlin, 16 November 2007 - ESTAVIS AG (ISIN: DE000A0KFKB3) today announced
its results for the first quarter of 2007/2008. According to the
International Financial Reporting Standards (IFRS), revenues rose in
comparison with the previous year’s period by 246% to EUR 45.5 million.
This substantial increase in revenues was achieved primarily by high growth
in the area of portfolio trading. EBIT (including non-recurring effects)
rose by 13% to EUR 1.3 million. Net profit increased to EUR 0.9 million –
an upturn of 87%.

EBIT was impacted negatively by non-recurring effects in the amount of EUR
1.2 million. In addition to effects from the purchase price allocation
necessary in accordance with IFRS for the acquisition of Hamburgische
Immobilien Invest SUCV AG totalling EUR 0.7 million, this includes start-up
costs of EUR 0.5 million for the development of ESTAVIS property and asset
management.

Other operating expenses include provisions of EUR 2.6 million from the
sale of property by CWI Real Estate AG.

One-time effects in deferred tax receivables and liabilities from the
changes in the tax regulations as a result of the 2008 German corporation
tax reform had a positive net effect on consolidated earnings of EUR 0.4
million.

ESTAVIS AG is currently preparing portfolio transactions with a total
volume of over EUR 100 million. In addition to a commercial portfolio with
a transaction value of approximately EUR 45 million, portfolios valued at
over EUR 60 million are currently being structured.

ESTAVIS AG confirms the outlook for the current year assuming clear
revenues growth to over EUR 300 million and an EBIT margin before
non-recurring effects of between 12% and 14%.

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

16.11.2007 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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