Acquisitions form the basis of a marked improvement in revenues and profitability in the course of the ongoing 2017 financial year
– Increase of Group turnover in 2016
– Milestone ERR takeover
– Increase of asset volume to in excess of EUR 1 bn. by the year 2020
– Significant improvement of turnover and profitability in 2017
Hamburg, 28 April 2017 – The Prime Standard (Frankfurt Stock Exchange) listed Aves One AG Group publishes its audited numbers for the 2016 financial year.
2016 was a very important, eventful and successful year for the Aves One AG Group, both in strategic and operational terms. The asset volume of more than EUR 440 million managed on 31 December 2016 in the four segments Container Equipment, Rail Equipment, Special Equipment and Resale Equipment demonstrates the successful implementation of the company’s strategic realignment towards becoming a holder and manager of mobile logistics assets.
Significant improvement of Group sales to EUR 28.6 million and improvement of pre-tax results during the course of 2016
The successful extension and expansion of the asset portfolio was reflected in a sharp increase in Group sales revenues from EUR 21.6 million in 2015 to EUR 28.6 million in the year under review. In this context, slightly more than 70% (previous year: 96%) of sales revenues came from the Container segment, and another 27% (previous year: less than 1%) from Rail. The significant increase in operating business resulted in an increase in total costs, which had a negative effect on earnings compared to the previous year, however showing a strong improvement in earnings before taxes (EBT) viewing the full year results of EUR -6.3 million (previous year: EUR 5.6 million) in comparison to the results of the first half of the year of EUR -8.6 million (previous year EUR 4.1 million). The consolidated results for the year 2016 amounted to EUR -7.7 million (previous year: EUR 4.4 million).
ERR takeover is a milestone
The acquisition of the freight carriage specialist ERR Rail Rent Vermietungs GmbH (ERR) in the second half of 2016 made it possible almost to double the asset volume in one go. In the light of this, the portfolio held by the Aves Group at the end of the 2016 financial year encompassed 4,230 freight carriages (3,899 of which ERR), equivalent to approximately EUR 226 million and constituting one of the on average youngest and most modern fleets on the market. The Container Equipment segment also showed considerable growth with a fleet of approximately 103.000 containers (equivalent to 141.000 CEU) as at 31 December 2016. In the business unit Special Equipment, which is currently smaller, purchases of tank containers and swap bodies led to a portfolio size of 2,792 units, equivalent to a volume of c. EUR 20 m, being reached. In the Resale Equipment business unit, which encompasses the renting out of former marine containers after the end of their useful lives as well as self-storage business, preparations were initiated for the construction of a first storage park. This was completed in Münster in March 2017.
The focus remains on further growth
The Rail and Container segments will remain the Company’s investment focus in the next quarters. The container market has improved visibly since reaching its low point in the autumn of 2016 – in addition to increasing price levels for new containers and improving capacity utilization, new legal requirements such as environmentally friendly paints are having a favorable impact on market development. In contrast to the container market, the rail market is subject to less price volatility, but no less interesting. In both segments, opportunities are continuously being examined.
Increase of asset volume to in excess of EUR 1 bn. by the year 2020
For the 2017 and 2018 financial years, we expect an investment volume of more than EUR 200 million, giving rise to a total asset volume under management of EUR 750 million by the end of 2018. By 2020, the level of EUR 1 billion will be exceeded.
Full consolidation of ERR and further asset purchases are to result in a higher sales andimproved profitability in 2017
For the current financial year, the Management Board expects significantly higher Group revenues and a clearly improved result on the basis of the budgeted growth of business. In this context, the first-time full consolidation of the ERR for an entire fiscal year (only two months in 2016) and the expansion of our asset portfolio will make a contribution, and furthermore the construction of additional storage parks is planned.
More information: www.avesone.com
Contact
Aves One AG
Jürgen Bauer, Executive Director
Tel.: +49 (40) 696 528 350
Fax: +49 (40) 696 528 359
E-mail: ir@avesone.com
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