Acta Holding ASA - 2nd quarter earnings update
Acta Holding ASA expects second quarter 2006 operating earnings (EBIT) above market expectations and first quarter operating earnings of 182 million kroner. The company estimates as of today second quarter operating earnings at minimum 240 million kroner.
Gross subscriptions in second quarter are estimated above 5 billion kroner compared to 5,8 billion in first quarter 2006. Acta Sweden shows continuous business volume increase and will record its best subscription level ever. Acta Norway will, as communicated in the first quarter report, have subscription numbers lower than first quarter primarily due to lower productivity from a high number of local holidays.
The improvement in operating earnings compared to first quarter is primarily due to higher revenue from real estate syndication, reflecting a relatively high volume of real estate transactions completed. The positive impact on operating earnings in second quarter from change in fee structure in some real estate mandates is estimated at 40 million kroner.
Stavanger, 3 July 2006