Aschaffenburg, 12.02.2015 - The operating performance of EYEMAXX Real Estate AG (General Standard, ISIN DE000A0V9L94) in financial year 2013/2014 (October 31) was enjoyable. Despite the start-up costs for the expansion of the business model with the development of residential and nursing homes the operating earnings before interest and taxes (EBIT) increased. So EYEMAXX has improved EBIT of EUR 6.7 million to EUR 7.4 million, surpassing even analysts estimations (7.0 million euros). Profit before taxes was also increased from EUR 3.6 million to EUR 3.9 million.
Only net income declined to EUR 2.3 million, compared to EUR 3.1 million in the previous year, which is mainly due to an increase in deferred tax expenses by EUR 1.0 million compared to the previous year.
This increase of deferred tax expense resulted primarily from the in the fiscal year 2013/2014 newly started German real estate projects where significant temporary differences between the tax balance sheet and the IFRS value arrose.
Due to this, the formation of passive deferred taxes was required, which has a corresponding effect on the consolidated income statement. Last year, the lower tax burden resulted from the capitalization of deferred taxes on loss carried forward. After the successful establishment of new businesse areas - many projects are already underway - is EYEMAXX on a good way to continue the operational growth in the current year and the to increase net income again.
The publication of the annual report for the fiscal year 2013/2014 will take place on February 27, 2015.
About EYEMAXX Real Estate AG:
Core business of the in the General Standard of the Frankfurt Stock Exchange listed EYEMAXX Real Estate AG is the development of real estate projects. The original division is the realization of retail parks in Central Europe. The company is therefore cooperation with major international brands of multiple retailers. New divisions of EYEMAXX are the establishment of nursing homes in Germany as well as residential properties in Germany and Austria. In addition, EYEMAXX uses market opportunities by realising logistic- and individual commercial properties(Taylormade Solutions). The regional focus of the company are established markets such as Germany and Austria, as well as promising growing markets such as Poland, the Czech Republic, Slovakia and Serbia. Besides pure project development, also partially well-yielding commercial properties are held in the own portfolio. So EYEMAXX Real Estate AG connects attractive development returns with an additional cash flow from existing properties. For more information: www.eyemaxx.com
Press Release:http://www.eyemaxx.com/news/eyemaxx-real-estate-ag-steigerung-des-operativen-ergebnisses-aber-rueckgang-des-nettoergebnisses-wegen-erhoehung-der-latenten-steuerbelastung.253/
