euro adhoc: ALTA FIDES Aktiengesellschaft für Grundvermögen / Financial Figures/Balance Sheet / ALTA FIDES AG with successful first quarter in 2007 ALTA FIDES AG publishes report regarding 1st quarte
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3-month report
22.05.2007
Stuttgart, 22 May 2007. During the first quarter of 2007, ALTA FIDES AG Group (ISIN: DE000A0B7EZ7) achieved operating results (EBIT) to the amount of EUR 4.08 million (Q1/2006: EUR 2.42 million) with a total turnover and operating revenue of EUR 10.34 million (Q1/2006: EUR 4.65 million). During the reporting period the profit increased to EUR 2.95 million(Q1/2006: EUR 1.35 million) which corresponds to net earnings of EUR 0.42 per share. With regard to turnover and revenue the first quarter of 2007 was the best first quarter ever in the history of the company.
This result has to be considered in view of the cyclical course of the business operated by ALTA FIDES AG. On account of the course of the projects the sales and revenue generated by the company are traditionally much higher during the second half of the year. For this reason, ALTA FIDES AG expects further increases with regard to the total turnover and operating revenue as well as with regard to profits for the coming quarters and confirms its budgeting for the year.
These expectations are backed by a high demand in the new segment of "micro-apartments". These are largely small apartments created for students or professional commuters. The first two projects of this kind have been commenced in Erlangen and Leipzig - further ones are to follow in other university towns in Germany. The new business segment of non-performing loans (NPL)operated by the subsidiary PROFECTO AG also shows a positive development.
Alta Fides AG is quoted under ISIN DE000A0B7EZ7 in the floor trading systems in Frankfurt/Main, Stuttgart, Berlin-Bremen and Düsseldorf as well as in the electronic trading system of XETRA.
end of announcement euro adhoc 22.05.2007 07:09:39 --------------------------------------------------------------------------------
ots Originaltext: ALTA FIDES AG für Grundvermögen Im Internet recherchierbar: http://www.presseportal.de
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