Ad hoc disclosure pursuant to Art. 17 of the Market Abuse Ordinance

Aves One looks back on a directional financial year according to preliminary figures, exceptional write-downs shape consolidated result 2020

Hamburg, 22. April 2021 - Aves One AG, an asset owner of durable rail assets, publishes its preliminary figures for 2020. According to preliminary calculations, revenues rose by around 6.1% to approximately EUR 123.9 million (previous year: EUR 116.8 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) remained at a high level of EUR 81.8 million (previous year: EUR 84.5 million). The main driver was the rail business. The division contributed revenues of EUR 83.9 million (previous year: EUR 76.1 million) and EBITDA of EUR 61.6 million (previous year: EUR 54.8 million). Compared to the same period of the previous year, Aves One recorded a slight decline in the utilization of the rail portfolio, also due to the effects of the COVID 19 pandemic. However, the utilization rate remained at a high level of around 90% on average (previous year: 95.5%). Nevertheless, the rail business compensated for the declining performance of the sea container portfolio. In the sea container business, rental price reductions in the context of contract extensions as well as currency effects led to declining revenue and EBITDA contributions.

According to preliminary figures, write-downs of EUR 72.2 million were made in the reporting period 2020 (previous year EUR 32.9 million). These include the already announced exceptional write-downs on the sea container fleet of around EUR 33.1 million. As a result of this effect, the result from operating activities (EBIT) fell significantly to EUR 9.6 million (previous year EUR 51.7 million). EBT adjusted for the exchange rate effects reported in the financial result fell to EUR -36.3 million (previous year: EUR 11.1 million).

The Management Board expects a revenue volume of more than EUR 100 million for the continuing business divisions rail and swap bodies - of which more than EUR 92 million from the rail division (previous year rail: around EUR 83 million). For the Aves One Group it is forecasting an EBITDA of more than EUR 70 million in the current financial year - of which EUR 64 million from the rail division (previous year rail: around EUR 62 million).

Contact
Aves One AG
Tobias Aulich, Management Board
T +49 (40) 696 528 350
E [email protected]