Ad-hoc News – 18 March 2021 – 19:50 CET/CEST

Aves One sells entire sea container portfolio and focuses on “Rail” business / Book loss on disposal negatively impacts result for 2020 / Jürgen Bauer resigns from Management Board

Hamburg, 18. March 2021 - Aves One AG has signed a sale and purchase agreement, worth around USD 182.5 million, with Oak Hill Advisors, an alternative investment company, for its sea container portfolio. This means that, in the future, Aves One AG will concentrate almost entirely on the “Rail” business segment. The transaction will be closed in the next few months. As part of the sale of the sea containers, non-cash exceptional write-downs of up to EUR 33.5 million will be made. As far as possible, these will be accounted for in the 2020 annual financial statements.

With the closing of the transaction, the sea container segment will be completely discontinued and the Management Board will thus have successfully completed the transition to focus on the “Rail” business. With the completion of the container sale, Jürgen Bauer will leave the Management Board, but will remain associated with the company in an advisory capacity. In the future, the Management Board will comprise the two board members Tobias Aulich and Sven Meißner.

The Management Board of Aves One has decided to carry out this transaction in order to further concentrate the future business of Aves One on the sustainable Rail segment. This strategic decision is based on the one hand on the fact that, in the past financial years, Aves One has achieved significantly better results in the Rail than in the Container segment. On the other hand, both rental and resale prices in the container market are highly volatile. In addition, Aves One is therefore gaining further financial stability from the sale of the more volatile container portfolio and the resulting elimination of exchange rate effects.

The sale is expected to generate liquid funds of approximately USD 23.8 million, which are to be used for the Company's further growth. For the financial year 2021, Aves One assumes that the “Rail“ business will continue to expand and plans revenues of more than EUR 100 million for the continuing operations of Rail and Swap Bodies (of which more than EUR 92 million from the Rail division; prior year Rail: around EUR 83 million). By concentrating on the Rail business, a further increase in the profitability of the Aves One Group is expected for 2021 and beyond.

In order to further drive growth in the “Rail” business and strengthen balance sheet ratios, the company continues to examine various financing options. This includes both equity measures and other participations by investors.