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FinLab AG — Earnings Release 2010
May 18, 2011
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Earnings Release
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Corporate | 18 May 2011 18:32
Altira Group presents its preliminary results for financial year 2010 ++ Consolidated profit after taxes totals EUR 1.2 million ++ Stake in Heliad to increase to 13.6 percent
Altira AG / Key word(s): Preliminary Results
18.05.2011 / 18:32
Altira AG ('Altira Group'), the asset management company focusing on alternative investment strategies, today announced its preliminary results for the financial year 2010.
Sales revenues amounted to EUR 17.2 million and therefore declined by 11.3 percent versus previous year (2009: EUR 19.4 million). This figure includes performance fees from the managed mutual funds in an amount of EUR 2.6 million (2009: performance fees of EUR 4.3 million). At EUR 0.8 million, EBIT for the financial year 2010 was at the same level as the previous year's result. Profit after taxes amounted to EUR 1.2 million (2009: EUR 1.4 million).
As of 31 December 2010, the equity ratio was 84.7 percent. The Group does not have any long-term debt liabilities. As of the balance sheet reporting date, Altira Group held cash amounting to more than EUR 11.6 million. Assets under management totalled EUR 776 million as of the balance sheet reporting date, equivalent to an increase of 11 percent compared with the previous year (2009: EUR 698 million).
The preliminary figures have not been audited. Altira Group will be publishing its finalised consolidated financial statements for the financial year 2010 at the end of May 2011.
Furthermore, Altira Group is increasing its stake in Heliad Equity Partners by 650,000 shares to a total of 1,652,253 shares. This will bring its stake in the investment company that it manages up to 13.6 percent.
David Zimmer, Member of the Board of Management of Altira, explains the reasons behind this decision: 'We do not believe that the current share price of Heliad reflects its true value. Net asset value, for example, amounted to EUR 6.03 per share as of 31 March 2011, which equates to an increase of 7.3 percent over the first quarter. Altira adopts the philosophy of investing in relevant stakes in the products it initiates and manages to ensure that its interests are aligned with those of the other investors. We are underlining this commitment by once again considerably increasing our stake in Heliad, which we view as a long-term investment.'
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 Small & Mid-Sized Companies & Restructurings
__ Renewable energies & Natural Resources
__ Africa.
Contact:
Altira Aktiengesellschaft
Phone: +49 69 719 12 80 0
E-Mail: [email protected]
End of Corporate News
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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: | [email protected] |
| 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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