Aves One remains on the path of operational growth in the 1st quarter

• Quarterly revenues rise to EUR 33.7 million (previous year EUR 27.2 million)
• EBITDA grows to EUR 21.7 million (previous year EUR 20.6 million)
• EBT (adjusted) is EUR 1.8 million (previous year EUR 3.4 million)

Hamburg, June 2, 2020 - Aves One AG is consistently pursuing its growth path and in the first quarter of 2020 has recorded a further increase in revenues and EBITDA compared to the same period last year.

Group revenues recorded a significant increase to EUR 33.7 million compared to the first quarter of the previous year (previous year EUR 27.2 million). This includes the sale of the company's last real estate property. This transaction completed the exit from the real estate portfolio. After deducting these one-off proceeds of EUR 3.4 million for the sale of the property, revenues from operating activities rose to EUR 30.3 million, which is roughly in line with the increase in the asset portfolio over the course of the year.

EBITDA rose to EUR 21.7 million (previous year EUR 20.6 million), which is less than the revenue from operations. This is due to expenses of around EUR 1.1 million recognised in profit or loss due to the sale of less profitable assets in the container segment. Adjusted for the exchange rate effects reported in the financial result, the EBT was therefore EUR 1.8 million (previous year EUR 3.4 million).

"As expected, our growth course also shows positive effects in the first quarter of 2020 despite the COVID-19 pandemic. The operating cash flow amounted to more than EUR 22.0 million. Our core business remains stable. Nevertheless, not all assets will generate the desired earnings this year due to the global recession triggered by the COVID-19 measures. We have therefore decided to review assets that develop weak prospects for the future under these conditions and, if necessary, take appropriate action. In the first quarter of 2020, around EUR 1.1 million was spent on this portfolio optimization. By contrast, those areas that remain profitable will continue to be strengthened and consistently expanded. We remain committed to our forecast of achieving the strong figures of the previous year, in other words a revenue volume of at least EUR 117 million and an EBITDA of at least EUR 84 million", Jürgen Bauer, CEO of Aves One AG, comments on the business figures.

For more detailed explanations of the key figures, please refer to the quarterly report Q1-2020, which can be downloaded at the following link:

About Aves One AG
Aves One AG is a strongly growing holder of long-life logistics assets with a focus on freight cars. Containers and swap bodies are also part of the portfolio. With a young and profitable freight car portfolio Aves One is one of the leading European rail logistics asset managers. The strategy is focused on the continuous optimization of its own stock and the further expansion of its logistics portfolio. The Hamburg-based Aves One AG is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange (ISIN: DE000A168114; WKN: A16811).

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Contact
Aves One AG
Jürgen Bauer, Executive Board member
T +49 (40) 696 528 350
F +49 (40) 696 528 359
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