euro adhoc: ALTA FIDES Aktiengesellschaft für Grundvermögen
Financial Figures/Balance Sheet
Financial figures third quarter 2008 EBIT and revenues during the third quarter 2008 burdened due to extraordinary effects; considerable increase of ...

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quaterly report


During its third quarter 2008 ALTA FIDES AG has achieved operating   revenues  of EUR 234,000 (Q3/2007: EUR 3.5 million). The annual result  after  taxes  in  the third  quarter  was  negative   amounting  to  EUR  -965,000  (Q3/2007:  EUR  2.8 million). The consolidated turnover in the third quarter amounted to  EUR  8.036 million (Q3/2007: EUR 8.745 million).

A  significant  reason  with  respect  to  the  decrease  in   turnover  were  in particular declining distribution activities as a consequence  of  the  current capital market situation. The operating result  in  Q3  amounts  to  EUR  1.234 million after adjustments with regard to singular expenses (EUR  1  million)  in relation to the acquisition of the majority stake by  CORESTATE  Capital  Group. Deliberate investments in the growth of the  business  segment   "Student  Homes" led to a significant increase of the finance   expenses  and  consequently  to  a negative result  in  the  third   quarter  2008  after  taxes  amounting  to  EUR -965,000.

ALTA FIDES AG achieved    -  in  particular  through  building  up   the  business segment "Student Homes" - an increase  of  its  overall turnover,  consolidated after the first three quarters, to  EUR  71   million  (corresponding  period  in 2007: EUR 32.4 million) and  thus significantly  by  119%  as  opposed  to  the previous year. With respect to the investment by CORESTATE Group ALTA  FIDES  AG expects to successfully continue its growth strategy in the  promising   business segment "Student Homes". Through the  nationwide   acquisition  of  premises  and existing real estate assets as well as through  several  newly  developed  real estate assets a portfolio of student homes will be established during  the  next years and thus added value will be created in this new class of assets.

ALTA FIDES Aktiengesellschaft für Grundvermögen Management Board

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ots Originaltext: ALTAFIDES Aktiengesellschaft für Grundvermögen
Im Internet recherchierbar:

Further inquiry note:
Rainer Fuchs
Tel.: +49 (0)341 35520690

Branche: Real Estate
ISIN:      DE000A0B7EZ7
WKN:        A0B7EZ
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade

Weitere Meldungen: YOUNIQ AG

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