euro adhoc: AvW Invest AG
Financial Figures/Balance Sheet
AvW INVEST
increases profits
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
6-month report
19.08.2008
Operating result rises to 10.727 million EUR, + 10.1 per cent Net profit rises to 7.560 million EUR, + 4.5 per cent Profit forecast for 2008 reaffirmed Equity participations further expanded
In the first half of the current business year AvW INVEST AG, which is listed on the Prime Market of the Vienna stock exchange, has further increased its results. The operating earnings rose from 11.449 million EUR to 12.405 million EUR (+ 8.4 per cent), the profit before taxes (POA) rose from 9.731 million EUR to 10.126 million EUR (+ 4.1 per cent), and the net profit (surplus for the period) rose from 7.232 million EUR to 7.560 million EUR (+ 4.5 per cent). The profit per share increased in the first six months from 2.40 EUR to 2.51 EUR (+ 4.6 per cent).
The basis for these increases are the company´s excellent earnings in the equity participations, financial services and real estate sectors. In just one transaction, the sale of the stake in D+S Europe, a net profit of over five million Euro was achieved. Overall the operating earnings in equity participations are up 34 per cent.
AvW INVEST has also profited from the volatile situation on the markets in its core business of financial services, particularly asset management and derivatives, where operating earnings rose by 4.5 per cent overall. In its smallest sector, real estate, an increase of 56 per cent was achieved.
"We have fulfilled expectations and further increased our profits, even in a highly volatile market situation. We are optimistic about the year as a whole and are expecting a very good result," said the Chairman of the Board of Management of AvW, Wolfgang Auer von Welsbach.
The profit forecast for the current business year is thus reaffirmed, with the profit per share being expected to rise from 4.32 to around 5 EUR. This would be the highest net profit ever for AvW INVEST AG.
In the field of equity participations, there has in particular been significant expansion in the first half year in the stakes held by the company in German IT companies. Thus AvW Invest AG now holds over 16 per cent in Realtech (start of year: 10 per cent) and around 22 per cent in Nextevolution (start of year: 16 per cent). "Our aim is to further expand our equity participations portfolio," says Auer von Welsbach.
in millions of EUR 1st half 2008 1st half 2007 Increase
Operating earnings 12.405 11.449 + 8.4 % Operating result 10.727 9.742 + 10.1 % Profit before taxes (POA)10.126 9.731 + 4.1 % Surplus for the period 7.560 7.232 + 4.5 % Balance sheet profit 28.676 19.100 + 50.1 % Profit/share in EUR 2.51 2.40 + 4.6 % Employees 318 272 + 16.9 %
The balance sheet has been drawn up in accordance with IFRS, classified according to the Austrian Banking Law
The interim financial report for the first half of 2008 is available on the website www.avw.eu or at IssuerInformationCenter of OEKB.
About AvW INVEST AG AvW INVEST AG, which is domiciled in Krumpendorf at Lake Wörthersee, is active in three core business areas: financial services, equity participations and real estate. AvW´s shares are listed on the Vienna Stock Exchange on the ATX Prime Market (ISIN number: AT0000930409, Reuters: AVWI.VI, XETRA Vienna: AWS).
end of announcement euro adhoc
Further inquiry note:
AvW INVEST AG
Mag. Brigitte Burger
Tel.: 04229/3621-24
mailto:b.burger@avw.eu
Branche: Financial & Business Services
ISIN: AT0000930409
WKN: 892661
Index: Prime.market
Börsen: Börse Frankfurt / free trade
Börse Stuttgart / free trade
Wiener Börse AG / official dealing