FinLab AG — Earnings Release 2008

Mar 17, 2009

News Details

Corporate | 17 March 2009 10:04

Altira Group presents preliminary annual figures for 2008 – New Conference Call dial-in

Altira AG / Preliminary Results

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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++ Revenues remain constant at EUR 18.3 million with an EBITDA of
EUR 5.7 million
++ Cash exceeds EUR 22 million
++ Net loss for the year EUR -2.2 million

Preliminary figures for financial year 2008 were released today by Altira
AG (the 'Altira Group'), an asset management company focusing on
alternative investment strategies.

In spite of the difficult market environment, revenues in the form of
management fees remained stable at EUR 18.3 million in 2008 as compared to
the previous year (EUR 18.4 million). No performance fees were earned in
2008 (previous year: EUR 9.3 million), causing total revenues to decrease
by 34 per cent from EUR 27.7 million in financial year 2007 to EUR 18.3
million in financial year 2008.

EBITDA was EUR 5.7 million (previous year: EUR 12.7 million). Due to fair
value measurement of listed financial assets, write-downs of EUR -7.5
million were performed. As a result, EBIT for financial year 2008 was
EUR -2.2 million (previous year: EUR 11.5 million), and the net loss for
the year after interest income and taxes was EUR -2.2 million (previous
year: EUR 9.4 million).

The Group had an equity ratio of 80 per cent as at 31 December 2008, and
has no non-current external liabilities. The Altira Group had EUR 22
million in cash as at the balance sheet date.

Assets under management were EUR 680 million as at the balance sheet date
(previous year: EUR 876 million). When adjusted for the sale of the
interest held in the Austrian fund-of-funds company C-QUADRAT Investment AG
in the first quarter of 2008, assets under management decreased by a total
of 22 per cent. Assets under management in the Public Markets division
declined by EUR 338 million or 58 per cent during the course of 2008, i.e.
from EUR 584 million to EUR 246 million. However, only EUR 30 million of
the decrease was due to actual outflows of funds. In contrast, assets under
management in the Private Markets division rose from EUR 191 million to EUR
320 million in financial year 2008, that is, by a total of EUR 129 million
or 68 per cent. The Real Estate division ended the period with
EUR 113 million in assets under management.

Michael Rieder, CEO of the Altira Group, commented on the financial year
just ended and the published figures: 'The Altira Group achieved very good
results in 2008 compared to the competition, and we view the future
optimistically. The institutional infrastructure of the Altira Group was
further improved in the year just ended to allow us to guarantee our
investors the necessary transparency, quality and organisational stability.
Our investment teams are well positioned with the right investment themes,
and their current cash holdings will enable them to profit from favourable
market movements when expanding their investment strategies. The Altira
Group itself also has sufficient cash to grow by means of
acquisitions.'

Peter Brumm, CFO of the Altira Group, added: 'The Altira Group's balance
sheet is perfectly healthy. This is shown by the large cash position as
well as our equity ratio of 80 per cent. Although the lack of performance
fees caused by the financial crisis made it impossible for us to continue
the outstanding results achieved in the previous year, regular income from
management fees nevertheless allowed us to cover our costs. Although the
equity market price drops recorded in 2008 are evident in write-downs of
financial assets and securities, this is irrelevant to our cash position.
It must also be considered separately from our operating performance, and
if the market situation improves we will see a positive effect on our
results.'

The preliminary figures have not been audited. The Altira Group expects to
publish final figures for the 2008 consolidated financial statements in its
Annual Report on 15 May 2009.

The Management Board of the Altira Group will present the preliminary
figures in a conference call at 4:30 p.m. CET today, accompanied by an
Internet presentation. The conference call will be conducted in English.

Due to technical reasons the dial-in code has been changed. To participate
in today's call please use the following number:

+49 69 58 999 08 07

and ask the operator for Conference ID '4026665' or refer to 'Altira'.

The presentation can be viewed at:

www.equitystory.com
Password: altira0309

++ About Altira Group

The Altira Group is an owner-managed company that is simultaneously an
exchange-listed asset management company. It manages money for
institutional and retail investors in the areas of private markets, public
markets and real estate.

The investment approaches focus newly forming markets and regions of the
future with above-average growth opportunities as well as established
markets undergoing major structural changes. Due to their specialised
knowledge and years-long experience, the investment teams of the Altira
Group are able to generate a sustainable above-average risk/yield profile
('high alpha strategies') in these markets by using an active investment
approach.

Contact:
Altira Aktiengesellschaft
Olaf Meier
Head of Investor Relations
Phone: +49 69 719 12 80 123
E-Mail: olaf.meier@altira-group.de

17.03.2009 Financial News transmitted by DGAP

Language: English
Issuer: Altira AG
Grüneburgweg 18
60322 Frankfurt / Main
Deutschland
Phone: +49 (0)69 719 12 80 - 00
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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