Aves One publishes its final figures for the first half of 2019 and confirms its forecast
Aves One AG, a strongly growing logistics asset holder, publishes its final figures for the first half of 2019. EBITDA increased by 90 percent to EUR 41.8 million (previous year EUR 22.0 million). EBT, adjusted by exchange rate effects reported in the financial result, grew even more significantly to EUR 6.8 million (previous year EUR 1.1 million). Revenues from the leasing of assets also grew significantly in the reporting period from EUR 32.4 million to EUR 55.6 million. The significant growth in revenues and earnings underlines the positive operating development and the successful expansion of the asset portfolio.
With the publication of the final figures, Aves One confirms the earnings results (EBITDA and adjusted EBT) communicated on 9 September 2019. With regard to revenues, there was a change in the recognition of the sale of a logistics property in the amount of EUR 11.1 million compared to the preliminary figures. The result from this transaction is no longer recorded gross, i.e. in the amount of the aforementioned revenue and the corresponding expense, but net as a net result under other operating income. This adjustment has no effect on the earnings figures (EBITDA and adjusted EBT). The logistics property, which was held as a financial investment, was sold in the reporting period in order to focus on the core business areas.
Aves One confirms its forecasts for the current fiscal year 2019. The Management Board forecasts a significant increase in revenues and a significantly higher EBITDA compared to the previous year. Revenues are expected to rise to more than EUR 110 million (2018: EUR 77.7 million) and EBITDA to more than EUR 80 million (2018: EUR 54.7 million).