PRESS RELEASE : Aves One sells entire sea container portfolio and focuses on 'Rail' business

DGAP-News: Aves One AG / Key word(s): Contract/Disposal 
Aves One sells entire sea container portfolio and focuses on 'Rail' business 
2021-03-18 / 20:30 
The issuer is solely responsible for the content of this announcement. 
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Corporate News 
Aves One sells entire sea container portfolio and focuses on "Rail" business 
  . Aves One sells entire sea container portfolio to institutional investor for around USD 182,5 million 
  . Non-cash exceptional write-downs of up to EUR 33.5 million expected 
  . Sale generates liquidity of approximately USD 23.8 million for further Rail acquisitions 
  . Jürgen Bauer to leave the Management Board with the completion of the strategic milestone 
Hamburg, 18 March 2021 - Aves One AG, a strongly growing holder of long-life rail assets, has reached an important 
milestone in its strategic focus on the stable and profitable "Rail" business. As part of this decision, an asset 
purchase agreement for the sea container portfolio was signed with an entity controlled by funds and separate accounts 
managed by Oak Hill Advisors, an alternative investment company, for approximately USD 182.5 million. The transaction 
will be closed in the next few months. As part of the sale of the sea containers, non-cash exceptional write-downs of 
up to EUR 33.5 million will be incurred. As far as possible, these will be accounted for in the 2020 annual financial 
statements. 
Strategic concentration on "Rail" business completed 
With the closing of the transaction, the sea container segment will be completely discontinued and the Management Board 
will have thus successfully completed the transition to focus on the "Rail" business. With the completion of the 
container sale, Jürgen Bauer will leave the Management Board, but will remain associated with the company in an 
advisory capacity. In the future, the Management Board will comprise the two board members Tobias Aulich and Sven 
Meißner. 
Tobias Aulich, Member of the Management Board of Aves One AG, commented: "With the sale of the sea containers, we are 
significantly strengthening our sustainable core business 'Rail' and setting the course for our further growth 
trajectory with increasing profitability. In addition, we will gain further financial stability from the sale of the 
more volatile container portfolio and the resulting elimination of exchange rate effects. With this step, the Company 
is finally completing the move to concentrate on sustainable rail freight transport. This is our core competence. The 
liquid funds of approximately USD 23.8 million generated in the company from the sale of the sea container portfolio 
together with the recently reported expansion of the warehouse facility of EUR 75.0 million puts us in the position to 
continue our growth trajectory uninterrupted in 2021." 
Profitable "Rail" business's share in the overall portfolio rises to approximately 95% 
Despite delays in the delivery of new freight cars in 2020, a year marked by COVID-19, Aves One was able to invest EUR 
90.8 million and thus successfully expanded its rail asset volume by 12%. The fleet has thus grown to more than 11,000 
freight cars. The Rail segment has proved to be a stable business model, even in challenging times. Necessary fleet 
renewals in the market and Europe-wide legislative initiatives to further strengthen rail freight transport as part of 
the overall transport volume are the drivers of the strong growth expected in the next few years. In addition to the 
core business "Rail", the young and profitable swap bodies segment remains part of the portfolio with approximately 5% 
of the asset volume. 
For the financial year 2021, Aves One assumes that the "Rail" business will continue to expand and plans revenues of 
more than EUR 100 million for the continuing operations of Rail and Swap Bodies (of which more than EUR 92 million from 
the Rail division; prior year Rail: approximately EUR 83 million). By concentrating on the "Rail" business, a further 
increase in the profitability of the Aves One Group is expected for 2021 and beyond. 
In order to further drive growth in the "Rail" business and strengthen balance sheet ratios, the company continues to 
examine various financing options. This includes both equity measures and other participations by investors. 
Jürgen Bauer to leave the Management Board 
From 1 April 2021 onwards, the company will be managed by the Management Board members Tobias Aulich and Sven Meißner. 
Jürgen Bauer will leave the Management Board on 31 March 2021. He was previously operationally responsible for the Rail 
segment. This responsibility will be continued by his colleague on the Management Board Tobias Aulich, who, together 
with Jürgen Bauer, has driven the successful expansion of the "Rail" business in recent years. 
"We would like to thank Jürgen Bauer for a successful and trust-based cooperation over many years. We wish him all the 
best for the future. Tobias Aulich and Sven Meißner, who have been with the company since 2013, will continue to 
successfully drive the development of Aves One," commented Ralf Wohltmann, Chairman of the Supervisory Board. 
 
About Aves One AG 
Aves One AG is a strongly growing holder of long-life rail assets with a modern and profitable freight car portfolio. 
Aves One is an established participant in the European rail freight market. Its strategy is geared towards a continuous 
optimisation and further expansion of the rail portfolio. The Hamburg-based Aves One AG is listed on the regulated 
market (Prime Standard) of the Frankfurt Stock Exchange (ISIN: DE000A168114; WKN: A16811). 
Further information 
www.avesone.com 
 
About Oak Hill Advisors 
Oak Hill Advisors ("OHA") is an alternative investment company with approximately USD 50 billion of capital under 
management, a primary focus on North America and Europe and over 30 years of experience investing in a variety of asset 
classes, including performing and non-performing corporate credit, shipping, infrastructure, real estate, aviation and 
structured products as well as private equity. 
Further information 
www.oakhilladvisors.com 
Contact details: 
Aves One AG 
Investor Relations 
Tel. [phone] 
Fax [phone] 
E-mail: [e-mail] 
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2021-03-18 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
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Language:     English 
Company:      Aves One AG 
              Große Elbstrasse 61 
              22767 Hamburg 
              Germany 
Phone:        [phone] 
Fax:          [phone] 
E-mail:       [e-mail] 
Internet:     www.avesone.com 
ISIN:         DE000A168114 
WKN:          A16811 
Listed:       Regulated Market in Frankfurt (Prime Standard), Hamburg, Hanover; Regulated Unofficial Market in Berlin, 
              Dusseldorf, Stuttgart; London 
EQS News ID:  1176794 
 
End of News   DGAP News Service 
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1176794 2021-03-18

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March 18, 2021 15:32 ET (19:32 GMT)