Earnings Release • Sep 28, 2007
Earnings Release
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Corporate | 28 September 2007 07:30
ESTAVIS AG records significant revenue and earnings growth in 2006/2007 financial year – positive outlook
ESTAVIS AG / Final Results
Announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
ESTAVIS AG records significant revenue and earnings growth in 2006/2007
financial year – positive outlook
KEY FIGURES 2006/2007 (comparative period: short financial year from 1 Jan.
– 30 Jun. 2006):
Revenue EUR 198.4 million (previous year: EUR 44.0 million); total
operating performance EUR 201.2 million (previous year: EUR 44.0 million);
EBIT (operating result + net income from associates) EUR 16.6 million
(previous year: EUR 5.6 million); net profit before income taxes EUR 14.6
million (previous year: EUR 5.6 million); consolidated net profit EUR 8.8
million (previous year: EUR 4.7 million); earnings per share EUR 1.54
(previous year: EUR 0.93).
Pro forma key figures for the period 1 Jul. 2005 – 30 Jun. 2006
Revenue EUR 56.4 million; total operating performance EUR 58.0 million;
EBIT EUR 7.5 million; net profit before income taxes EUR 7.2 million;
consolidated net profit EUR 6.0 million.
Berlin, 28 September 2007 – ESTAVIS AG (ISIN: DE000A0KFKB3) today announced
its results for the 2006/2007 financial year. Revenue in accordance with
International Financial Reporting Standards (IFRS) increased by 350%
compared with the previous short financial year (1 January – 30 June 2006),
from EUR 44.0 million to EUR 198.4 million. The significant sales increase
was mainly driven by the growth of the portfolio trading segment, the core
business area of ESTAVIS AG. EBIT improved from EUR 5.6 million to EUR 16.6
million, while consolidated net profit rose from EUR 4.7 million to EUR 8.8
million, representing growth of 89%.
This significant increase in EBIT and consolidated net profit was achieved
despite the negative impact of non-recurring effects. These include
consulting and integration costs relating to the acquisition of
Hamburgische Immobilien Invest SUCV AG and costs for ESTAVIS' IPO in April
2007 and the IPO that was originally planned for autumn 2006, which
totalled EUR 4.0 million.
In addition, ESTAVIS generated revenues of around EUR 15 million and
corresponding income from portfolio sales in the previous financial year
that will only be recognised in the current financial year.
This is because these sales involve a greater proportion of construction
work than previous transactions, meaning that the corresponding revenue and
income are only recognised when the construction measures are completed.
In addition, income of over EUR 2 million in the financial statements of
Hamburgische Immobilien Invest SUCV AG was offset against goodwill at
ESTAVIS Group level in the course of purchase price allocation, and hence
did not affect ESTAVIS’ EBIT for the period.
Hamburgische Immobilien Invest SUCV AG was included in the consolidated
income statement of ESTAVIS AG for the first time in the fourth quarter of
the past financial year, contributing EUR 17.9 million to revenue, EUR 0.8
million to EBIT and EUR 0.2 million to consolidated net profit.
Positive outlook for 2007/2008 financial year
In the new 2007/2008 financial year, ESTAVIS expects to record significant
revenue and earnings growth on the back of continued stable market
conditions, with all of the companies of the ESTAVIS Group contributing
towards this growth. ESTAVIS Group enjoyed a positive business development
in the first quarter of the current financial year.
ESTAVIS hereby announces that it has agreed to sell a large real estate
portfolio with a transaction volume of around EUR 40 million to an
institutional investor. The transaction is scheduled to be signed today.
ESTAVIS expects that this transaction will be recognised in its financial
statements for the current first quarter of the 2007/2008 financial year.
Additional growth and strategic diversification through acquisition of B&V
GmbH
On 25 September 2007, ESTAVIS AG entered into an agreement with the
shareholders of B&V Bauträger- und Vertriebsgesellschaft für Immobilien
mbH, Berlin (B&V GmbH), on the acquisition of the latter. The agreement
will come into force upon approval by the Supervisory Board of ESTAVIS AG.
With the acquisition of this company, ESTAVIS is reinforcing its activities
in the rapidly growing market for private, real estate-based investment and
retirement provision, which are performed by the ESTAVIS Group subsidiaries
CWI Real Estate AG, Bayreuth, and Hamburgische Immobilien Invest SUCV AG,
Hamburg. These subsidiaries and B&V are expected to sell a total of more
than 1,000 individual residential units in the current financial year,
meaning that the ESTAVIS Group now occupies a leading position as a
provider in this expanding market segment to accompany its existing
position in its core business area of portfolio trading.
The full annual report can be accessed in German and English at
http://www.estavis.de/finanzberichte.0.html
A conference call for analysts and investors will be held in English at 10
a.m. (CET).
Access data:
Conference: +49 (0) 6103 485 3002
Replay: +49 (0) 69 58 99 90 568
Replay PIN: 137091#
Media are invited to the press conference at 11 am at the ESTAVIS AG
headquarters, Uhlandstr. 165, 10719 Berlin.
Contact:
ESTAVIS AG - Peter Vogt - Investor & Public Relations - Tel: + 49 30 887
181 799 - E-Mail: [email protected]
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: [email protected]
Internet: http://www.estavis.de
ISIN: DE000A0KFKB3
WKN: A0KFKB
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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