euro adhoc: AvW Invest AG
AvW Invest reaffirms growth in profits for
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- EUR 15 million net profit, corresponding to an increase of around 15% - AvW expects highest profit in the company´s history - Financial services and equity investment segments produce highly satisfactory results
Despite the major turbulences in the financial markets, AvW Invest AG stands by its profit forecast for the year as a whole, with the earnings per share being projected to reach at least EUR 5.00 (2007: EUR 4.32). The net profit is anticipated to rise from EUR 13 million to EUR 15 million, which corresponds to an increase of at least 15 per cent.
"Our financial services and investment activities continue to produce highly satisfactory results, and the current turmoils in the international financial markets do not affect us. We have never held any investments in the United States and do not intend to change this approach in the future. Furthermore, we are not exposed to any bank loans and are therefore able to achieve another record result in 2008," says Wolfgang Auer von Welsbach, Chairman of the AvW Management Board.
As far as investments are concerned, particularly in the IT sector, AvW expects positive effects until year-end. "As a result of consolidation measures, there are always opportunities for new acquisitions. This might also affect companies in which AvW holds a significant stake," Mr. Auer von Welsbach continues.
The German IT company Realtech, for example, in which AvW holds a shareholding of more than 16 per cent, has performed exceptionally well during the current financial year, with the share price increasing from EUR 12 (31.12.2007) to currently EUR 13.50. This corresponds to an increase of 12.5 per cent. In addition, Realtech paid a dividend of EUR 0.50 in 2008, and a special dividend of EUR 4.00 will be distributed as return of capital.
AvW Invest AG´s figures for the third quarter will be published on 12 November 2008.
About AvW INVEST AG AvW INVEST AG, which is domiciled in Krumpendorf at Lake Wörthersee, is active in three core business areas: financial services, equity participations and real estate. AvW´s shares are listed on the Vienna Stock Exchange on the ATX Prime Market (ISIN number: AT0000930409, Reuters: AVWI.VI, XETRA Vienna: AWS).
end of announcement euro adhoc
Further inquiry note:
AvW INVEST AG
Mag. Brigitte Burger
Branche: Financial & Business Services
Börsen: Börse Frankfurt / free trade
Börse Stuttgart / free trade
Wiener Börse AG / official dealing