Ad-hoc News – 22 April 2021 – 18:50 CET/CEST

Based on preliminary figures, Aves One reflects on 2020 as a landmark financial year according to preliminary figures,. Eexceptional write-downs shape mark the 2020 consolidated results 2020.

Hamburg, 22. April 2021 – Aves One AG, an asset owner of durable rail assets, publishes its preliminary figures for 2020. Based on preliminary calculations, revenues rose by around 6.1% to approximately EUR 123.9 million (prior year: EUR 116.8 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) remained high at EUR 81.8 million (prior year: EUR 84.5 million). The main driver was the rail business. This division contributed revenues of EUR 83.9 million (prior year: EUR 76.1 million) and EBITDA of EUR 61.6 million (prior year: EUR 54.8 million). Compared to the previous year, Aves One experienced a slight decline in the utilisation of its rail portfolio, also due to the effects of the COVID 19 pandemic. Nonetheless, the utilisation rate remained high at approximately 90% on average (prior year: 95.5%). Nevertheless, the rail business compensated for the declining performance of the sea container portfolio. In the sea container business, rental price reductions agreed in the course of contract extensions and currency effects led to declining revenue and EBITDA.

Based on the preliminary figures, write-downs of EUR 72.2 million were made in the 2020 reporting year (prior year: EUR 32.9 million). These include the exceptional write-downs already announced on the sea container fleet of approximately EUR 33.1 million. As a result of this one-off effect, the operating result (EBIT) decreased significantly to EUR 9.6 million (prior year: EUR 51.7 million). EBT adjusted for the exchange rate effects shown in the financial result decreased to EUR -36.3 million (prior year: EUR 11.1 million).

The Management Board expects a revenue volume of more than EUR 100 million for the continuing business divisions of rail and swap bodies - of which more than EUR 92 million is to come from the rail division (prior year rail: approximately EUR 83 million). For the Aves One Group it is forecasting an EBITDA of more than EUR 70 million for the current financial year - of which EUR 64 million is to come from the rail division (previous year rail: around EUR 62 million).