Novavisions AG - Result for the financial year 2011

Novavisions AG  / Key word(s): Final Results

26.04.2012 18:28

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Novavisions AG - Result for the financial year 2011 

Rotkreuz (Switzerland), 26 April 2012; Novavisions AG with cleaned up
balance sheets and resultant effects on the financial statements 2011

Novavisions sold - manly against loans - all shares held in the NovaStor
subsidiaries to NovaStor AG at the end of the financial year. Novavisions
still has a share of 17% in NovaStor AG. Since the carrying amount of the
NovaStor companies was higher than the sales price, these transactions led
to a loss, which contributed significantly to the negative result.

In the second half of the year 2011 a loss of EUR -3'293 thousand (2010: a
profit of EUR 131 thousand) resulted. For the financial year 2011 a loss of
EUR -3'700 thousand (2010: a profit of EUR 170 thousand) resulted. The
equity ratio is 55,8% (2010: 72,2%).

In order to restructure the capital and to reduce the par value of the
shares from CHF 3.50 to CHF 0.05, a reduction of the nominal value of the
share capital and a share split of 1:10 will be proposed to the
Shareholders Meeting of May 29, 2012. Each GDR traded at the stock exchange
will then be backed by a bearer share. This represents an important
simplification and the new nominal value allows opportunities for capital
market transactions.

Novavisions AG's focus is the creation of added value to its shareholders
by consistently working on its current portfolio as well as selective
investments. The current core investments are www.novastor.com,
www.petshop.de and www.multicom.fi. All companies developed successfully in
2011.


Contact:

Novavisions AG
Claudia Schumacher
Grundstraße 12
CH-6343 Rotkreuz
Tel.: +41 (0)41 798 33 44
Fax: +41 (0)41 798 33 99
E-Mail: claudia.schumacher@novavisions.com
www.novavisions.com 


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Language:     English
Company:      Novavisions AG
              Grundstrasse 12
              CH-6343 Rotkreuz
              Switzerland
Phone:        +41-41798 33-44
Fax:          +41-41798 33-99
E-mail:       claudia.schumacher@novavisions.com
Internet:     www.novavisions.com
ISIN:         DE0006572217
WKN:          657221
Listed:       Regulierter Markt in Frankfurt (General Standard);
              Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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