ESTAVIS AG / Quarter Results 16.05.2008 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Berlin, 16 May 2008 ESTAVIS AG (ISIN: DE000A0KFKB3) today announced its results for the first nine months of financial year 2007/2008. In accordance with International Financial Reporting Standards (IFRS), revenues increased by 11% compared with the same period of the previous year to EUR 122.5 million. In addition to this, transactions with a volume of EUR 50.0 million were recorded by 31 March 2008. Revenues from these transactions are expected to be largely generated in the fourth quarter of the current financial year. The sale of apartments to private investors (EUR 49.0 million; previous year: EUR 0 million) played a significant role in this revenue growth. In contrast, revenues from portfolio trading (EUR 72.2 million, previous year: 110.7 million) fell as a result of the financing conditions for institutional investors that have been made more difficult. Earnings before interest and taxes (EBIT) calculated in line with IFRS of EUR -0.4 million were negatively impacted by non-recurring effects in the amount of EUR 6.1 million. This includes non-cash effects from the purchase price allocation stipulated under IFRS for business acquisitions totalling EUR 5.3 million and costs for setting up ESTAVIS Property Management in the amount of EUR 0.8 million. After adjustment for non-recurring effects, EBIT amounted to EUR 5.7 million. After nine months, the Group recorded a net loss of EUR -1.5 million and earnings per share were EUR -0.13 (not adjusted for non-recurring effects in either case). Against the backdrop of the current business performance and the status of the portfolio transactions under negotiation, the Management Board believes that the outlook for the current financial year communicated in February 2008 is still within ESTAVIS AGs reach. Revenues are expected to grow slightly compared to previous year (EUR 198 million). Present estimates predict an EBIT margin before non-recurring events of around 10%. KEY FIGURES for the first nine months of 2007/2008 (1 July 2007 31 March 2008)compared with the first nine months of 2006/2007: +Notarised volume (31 March 2008): EUR 50.0 million (previous year: EUR 2.3 million); +Revenues: EUR 122.5 million (previous year: EUR 110.7 million); +Total operating performance: EUR 119.2 million (previous year: EUR 111.4 million); +EBIT before non-recurring effects: EUR 5.7 million; +EBIT under IFRS: EUR -0.4 million (previous year: EUR 11.5 million); +Pre-tax result: EUR -2.6 million (previous year: EUR 10.2 million) +Consolidated net loss for the period: EUR -1.5 million (previous year: EUR 6.3 million); +Earnings per share: EUR -0.13 (previous year: EUR 1.26); +Sales volume in economic units: 2,026 (previous year: 2,653); +Sales volume in square meters: 112,046 (previous year: 147,780) --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: The complete quarterly report in German can be found on the ESTAVIS AG website at http://www.estavis.de/finanzberichte.0.html and in English at http://www.estavis.de/199.0.html. A telephone conference for analysts and investors in English will take place today (Friday, May 16, 2008) at 8.30 am (CET). Dial-in information: Conference: +49 (0) 69 58 99 90 806 Replay: +49 (0) 69 58 99 90 568 Replay pin: 139458# Contact: ESTAVIS AG - Peter Vogt - Investor & Public Relations - Tel: + 49 30 887 181 799 - E-Mail: ir@estavis.de DGAP 16.05.2008 --------------------------------------------------------------------------- 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, Düsseldorf, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: ESTAVIS AG publishes results for the first nine months of 2007/2008
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