Accentro Real Estate AG

Earnings Release • May 19, 2014

News Details

Corporate | 19 May 2014 07:37

ESTAVIS AG: Nine-Month Report: ESTAVIS AG Substantially Increases Consolidated Income and EBIT

DGAP-News: ESTAVIS AG / Key word(s): 9-month figures/Quarter Results

19.05.2014 / 07:37

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• EBIT: 7.5 million euros (prior-year period: 0.28 million euros)
• Consolidated income: 0.9 million euros (prior-year period: -3.54 million
  euros)
• Privatisation revenues rose to 14 million euros (prior-year period: 12.7
  million euros)
• Rental income in the Portfolio segment doubled at 7.6 million
  euros(prior-year period: 3.7 million euros)
• Positive year-end result expected

Berlin, 19 May 2014 - During the first nine months of its 2013/14 financial
year, ESTAVIS AG generated a positive consolidated income of 0.9 million
euros. At the end of Q3 last year, the company had still reported a loss of
3.5 million euros. The EBIT climbed to 7.5 million euros (prior-year
period: 0.28 million euros), while the turnover added up to 23.8 million
euros (prior-year period: 25.76 million euros).

Record Sales in Apartment Retailing
In housing privatisation, the record sales volume of the previous year was
topped, rising from 12.7 million euros to 14.0 million euros. "The
privatisation business continues to benefit from a strong demand for
buyers. This helped us to improve an anyway great result even further,"
commented Jacopo Mingazzini, Member of the Board of Estavis AG. He added
that the favourable economic parameters will facilitate the continued,
dynamic growth of this business line. "The acquisitions for our proprietary
residential portfolio ensure that our privatisation pipeline remains
well-stocked, and that we remain able to serve the high demand," Mingazzini
went on to say.

Rent Revenues More than Doubled
Rent revenues in the Portfolio segment more than doubled year on year
(prior-year period: 3.7 million euros), not least because of the steep
growth of the proprietary portfolio of Estavis AG. "Acquisitions in Berlin
and Saxony enabled us to broaden our income basis and to enhance our cost
ratios," said Torsten Cejka, another Member of the Management Board of
Estavis AG.

Outlook Remains Bright
The favourable trend in the "Portfolio" business line, the brisk
development in the privatisation business, and the sound result of the
first nine months back the Management Board's expectation to conclude the
ongoing financial year with a positive consolidated income.

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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19.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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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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