ESTAVIS AG / Quarter Results 14.11.2008 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Berlin, November 14, 2008 In the concluded first quarter of the 2008/2009 financial year, ESTAVIS AG (ISIN: DE000A0KFKB3) genrated sales totalling 22.2 million Euros (compared to 45.5 million Euros the previous year). The consolidated earnings equalled -3.0 million Euros (previous year: 0.9 million Euros), the per-share performance was -0.35 Euros (pervious year: 0.15 Euros). The sales performance was definitively impacted by the market dip for institutional real estate transactions. This has led to a lack of portfolio transactions in Q1. During the same period last year, sales worth 37.4 million Euros had been realised in the portfolio trading business. By contrast, the business with private investors continues to develop favourably. The notarisation volume of 259 units in Q1 set a new record in apartment retailing. Moreover, the quarters net income included sales proceeds for 184 housing units (previous year: 74) in a total amount of 17.5 million Euros. ESTAVIS AG substantially reduced its dependence on the volatile institutional real estate market by expanding its apartment business. For the ongoing 2008/2009 financial year, it is planned to sell more than 1,000 apartments to private investors, which would make ESTAVIS AG one of the market leaders in this segment. The earnings before interest and taxes (EBIT), assessed according to IFRS, dropped to -2.8 million Euros, down from the 1.3 million Euros realised during the reference period last year. Adjusted for non-cash effects from the purchase price allocation that is mandated by IFRS for corporate acquisitions (in this case arising out of the acquisition of the HAG and B&V Groups), the EBIT came to a total amount of -1.4 million Euros. The first quarter of the 2008/2009 financial year is the last quarter in which the aforementioned effects have significantly encumbered the income profile of ESTAVIS AG. The Board has confirmed its intention to expand the sales volume and to return to profitability in the course of the ongoing 2008/2009 financial year. Rainer Schorr, Chairman of the Board of ESTAVIS AG, commented the business trend in Q1: 'The fast-growing business with private investors makes us less and less dependent on the volatile institutional transaction market. Our goal is to sell more than 1,000 apartments to private investors this year. This makes us one of Germanys leading providers.' RATIOS Q1 of 2008/2009 FY (JUL 1, 2008 SEP 30, 2008) reference period: Q1 of 2007/2008 FY (JUL 1, 2007 SEP 30, 2007) *Sales: Euro 22.2m (previous year: Euro 45.5m) *Sales, apartments: Euro 17.5m (previous year: Euro 7.8m) *Sales, portfolio trading: Euro 4.3m (previous year: Euro 37.4m) *Total operating performance: Euro 21.0m (previous year: Euro 45.7m) *EBIT: Euro -2.8m (previous year: Euro 1.3m) *Consolidated income: Euro -3.0m (previous year: Euro 0.9m) *Earnings per share: Euro -0.35 (previous year: Euro 0.15) *Sales volume in economic units: 184 (previous year: 745) *Sales volume in square metres: 9,885 (previous year: 51,971) For the full quarterly report in English or German, please visit the web pages of ESTAVIS AG at http://www.estavis.de/investor-relations/finanzberichte or http://www.estavis.de/en/investor-relations/financial-reports, respectively. Contact: ESTAVIS AG - Peter Vogt - Investor & Public Relations - Tel: + 49 30 887 181 799 - E-Mail: ir@estavis.de DGAP 14.11.2008 --------------------------------------------------------------------------- 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: info@estavis.de Internet: http://www.estavis.de ISIN: DE000A0KFKB3 WKN: A0KFKB Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Hamburg, Düsseldorf, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: ESTAVIS AG Publishes Results of Q1 of 2008/2009 Financial Year
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