FinLab AG — Earnings Release 2010

Nov 24, 2010

News Details

Corporate | 24 November 2010 07:58

Altira Group announces third-quarter figures for 2010 ++ Josef Pfannenstill joins Management Board ++ Return to profitability ++ Successful new products and strengthened sales

Altira AG / Key word(s): Quarter Results

24.11.2010 07:58

Asset management company Altira AG (the 'Altira Group'), which focuses on
alternative investment strategies, today published results for the third
quarter of 2010.

Third-quarter revenues were EUR 3.0 million (Q3 2009: EUR 3.9 million) and
EBITDA was EUR 0.4 million (Q3 2009: EUR 0.04 million). EBIT for the
reporting period was EUR 0.3 million (Q3 2009: EUR -0.5 million). Profit
for the period after interest income and taxes amounted to EUR 0.6 million
(Q3 2009: EUR -0.6 million).

Revenues in the first three quarters of 2010 totalled EUR 9.8 million (9M
2009: EUR 11.2 million). The revenue decline resulted from impairments in
administered funds and less from cash outflows. EBITDA amounted to EUR 0.9
million (9M 2009: EUR 0.8 million) and EBIT was EUR 0.5 million (9M 2009:
EUR -0.7 million). Net profit over the first nine months amounted to EUR
0.8 million. Furthermore, earnings per share reached EUR 0.14 (9M 2009:
loss per share of EUR -0.22).

The equity ratio as at 30 June 2010 was 86 percent (6 percent above the
previous year). There are no significant long-term debt obligations. As at
the closing date, the Altira Group had cash and cash equivalents amounting
to EUR 14.8 million.

Assets under management as at 30 September 2010 totalled EUR 637 million, a
slight increase over the second quarter of the year (Q2 2010: EUR 625
million).

Altira Group CEO Michael Rieder notes, 'The return of Altira AG to
profitability confirms our forecasts. The impairments still show the
downstream impact of the economic and financial crisis. Nevertheless, the
slight increase in assets under management reveals a positive trend, while
our strategies and business model are greatly appreciated by investors.
This is confirmed not least by the successful initial closing of the newly
launched infrastructure fund for solar projects in November 2010, with
revenues of EUR 77.5 million. We also collaborated with investors to put
together more products in our main investment areas of Natural Resources,
Renewable Energies and Africa, and have further increased sales. This
growing popularity among investors will have a positive effect on assets
under management and consequently on Altira's results.'

++ About Altira Group

The Altira Group is an owner-managed, exchange-listed asset management
company focusing on alternative investment strategies for institutional as
well as private investors. In that area, it concentrates on both
established as well as newly-developing, forward-looking growth markets in
connection with its core areas of focus

__ German 'Mittelstand' & Restructurings
__ Renewable Energies & Natural Resources
__ Africa.

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

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Language: English
Company: 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 Announcement DGAP News-Service

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