- Group turnover increases to more than EUR 69.5 million.
- EBITDA up by to more than EUR 15.1 million.
CFC Industriebeteiligungen GmbH & Co. KGaA (ISIN: DE000A0LBKW6), Dortmund, reports – based on preliminary unaudited figures – record results for annual financials of 2007. Group consolidated turnover grew by 469 % to more than EUR 69.5 million compared to EUR 12.2 million in 2006 shortened fiscal year. The operational result before interest, tax, depreciation and amortization (EBITDA) according to IFRS went up to EUR 15.1 million (previous year: EUR 0.6 million). Group profit after tax reached top mark of EUR 13.1 million or EUR 2,04 per share (previous year: EUR 2.0 million or EUR 0,35 per share) and exceeds market expectations by 56%. Included in this result is a non-recurring positive revaluation of the corporate deferred taxes due to changes in the corporate tax law in Germany.
CFC acquired last year four new companies, which increased the annualized turnover by December 31, 2007 to more than EUR 150 million. The annualized group turnover is a good indication of the development in the new financial year. In view of those acquisitions the Group results include gains from the capital consolidation (so-called “Bargain Purchases”) in the amount of EUR 17.0 million. As is customary for the CFC business model, the newly acquired companies usually show negative results in the first year of consolidation. The success of the reorganisation of the subsidiaries is however evident from the Group company Berndes which was already acquired in 2006 and which reports after successful restructuring an EBITDA of EUR 1.8 million.
CFC expects a continuously positive development for the year 2008. A more detailed outlook will be presented together with the publication of the final audited financials for 2007 on April 30, 2008.
CFC Industriebeteiligungen GmbH & Co. KGaA
Dr. Frank J. Nellißen
Tel: + 49 (0) 231 222 40 511