Vivacon AG

euro adhoc: Vivacon AG
quarterly or semiannual financial statement
Vivacon AG strongly builds up revenues and residential portfolio in Q1 2006

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Cologne, 15 May 2006. VIVACON AG (ISIN DE0006048911) has strongly grown its Private Investor and Institutional Investor business units in Q1 2006. The Private Investor business unit has experienced it’s best first quarter since the establishment of the company. Notarized volume increased by approximately 415%. In the Institutional Investor business unit (portfolio trading) the company build up it’s largest residential portfolio ever. More than 4,000 residential units were acquired in 2006. VIVACON AG had not acquired any residential portfolios in Q1 2005. The total number of residential units for sale has now increased to approximately 7,000 residential units. Despite considerable demand and concrete offers management had decided for strategic reasons not to sell off any portfolios yet as these units shall be offered to Vivacon German Properties PLC after its IPO on a preferential basis and under ground lease terms. A final disposal is planned for the next few weeks.

In Q1 of 2006 revenues increased to EUR 14.2m, an increase of 238% against Q1 2005. Main revenue contributor was the Private Investor business, where revenues grew from EUR 3.3m in Q1 2005 to EUR 9.0m in Q1 2006, which is an increase of +172%. Earnings were below previous year results as expected due to portfolio related transaction costs. EBIT amounted to EUR -1.4m (Q1 2005: EUR 5.7m) and net income was EUR -2.1m (Q1 2005: EUR 3.1m).

In the Private Investor business notarized volume amounted to EUR 11.9m in Q1 2006 following EUR 2.3m (+ 415 %) in Q1 2005, which was the best result in company history.

Due its project business characteristics, VIVACON AG’s quarterly results are generally subject to significant volatility and therefore no conclusion for the full year results can be derived from any single quarter. In the last few years over 70% of revenues were usually generated in Q4.

The company reiterates its full year guidance to trade at least 15,000 units in the portfolio trading business; especially against the background that 7,000 units have already been prepared for a disposal.

The management remains very optimistic for the full year to be able to further increase earnings significantly over the coming months according to plan, because of the marketing success in the Private Investor business and the sales potential in the Institutional Investor business given the continuing high demand.

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ots Originaltext: Vivacon AG
Im Internet recherchierbar:

Further inquiry note:
Sven Annutsch
+49 (0) 221 1305621 630

Lars Schriewer
+49 (0) 221 1305621 631

Branche: Real Estate
ISIN:      DE0006048911
WKN:        604891
Index:    CDAX, SDAX, Prime All Share, Classic All Share
Börsen:  Frankfurter Wertpapierbörse / official dealing/prime standard
              Börse Berlin-Bremen / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / official dealing

Weitere Meldungen: Vivacon AG

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