Estavis AG announced consolidated earnings results for the second quarter and half year ended December 31, 2012. For the quarter, the company reported revenues of EUR 9,711,000 compared to EUR 19,943,000 a year ago. Total operating performance was EUR 9,476,000 compared to EUR 16,175,000 a year ago. LBIT was EUR 35,000 compared to EBIT of EUR 1,458,000 a year ago. Pre-tax loss was EUR 876,000 compared to pre-tax profit of EUR 529,000 a year ago. Net loss was EUR 842,000 compared to net profit of EUR 398,000 a year ago. Loss per share was EUR 0.06 compared to earnings per share of EUR 0.03 a year ago.

For the half year, the company reported revenues of EUR 18,040,000 compared to EUR 28,630,000 a year ago. Total operating performance was EUR 19,870,000 compared to EUR 26,113,000 a year ago. EBIT was EUR 17,000 compared to EUR 2,548,000 a year ago. Pre-tax loss was EUR 2,614,000 compared to pre-tax profit of EUR 596,000 a year ago. Net loss was EUR 2,670,000 compared to net profit of EUR 423,000 a year ago. Loss per share was EUR 0.18 compared to earnings per share of EUR 0.03 a year ago. Cash flow used in current operating activities was EUR 5,227,000 compared to EUR 1,323,000 a year ago. Payments for investments in intangible assets were EUR 12,000 compared to EUR 10,000 a year ago. Payments for investments in property, plant and equipment were EUR 14,000 compared to EUR 214,000 a year ago. Payments for investment property were EUR 10,000,000 compared to EUR 15,000 a year ago.

The swift wind-up of the encumbrances resulting from the discontinued activities in the project development sector as reflected in the annual account for 2011/12 and in the first semester of the 2013/13 financial year, and the auspicious development in two strategic business areas Portfolio and Trade, give the company reason to assume that the result will improve significantly as early as the third quarter of the 2012/13 financial year.

The company expects to achieve a clearly positive result by the end of the 2012/13 financial year as a whole.