- CFC Industriebeteiligungen GmbH & KGaA after third quarter 2007 fully in line
CFC Industriebeteiligungen GmbH & Co.KGaA (ISIN DE000A0LBKW6) has taken yet another successful turn in the third quarter 2007. Apart from other attractive investments the realignment of the portfolio was continued – the cookware producer BERNDES was already successfully repositioned during the year 2007.
The annualized group turnover (pro-forma consideration) counts up to 90 million Euros for the first nine months. The profit and loss records 42.3 million Euros as turnover, whereof almost 50% in third quarter. For the comparable previous year period no corresponding figures are available. The highest share in turnover was contributed by the cookware producer BERNDES. The segment already contributes operationally positive results. The Kitchen furniture segment results were affected by the restructuring of FORMAT KÜCHEN GmbH & Co. KG, which was acquired end of May. Accordingly expected considerable losses were recorded. With the establishment of a new management in September significant restructuring successes could already be seen. The repositioning is expected to be completed with the breaking-even of FORMAT in the first half of 2008. In the segment Electronic Manufacturing Services the in July acquired ELCON Systemtechnik GmbH was consolidated in the group accounts for the first time. It already showed a positive EBITDA for the third quarter. ELCON ́s development is ideally complemented by the mostrecent take-over of VOGT LETRON Electronic GmbH.
The group result after minorities for the first nine months is recorded with 2.1 million Euros, meaning earnings per share for the period of 0.32 Euro.
Based on the successful investment strategy of CFC Industriebeteiligungen and the positive development of the group companies a significant increase of the results is expected for the fourth quarter. The management considers the development fully in line with the plan.
As CFC Industriebeteiligungen is focussed on equity-based financing of acquisitions of companies in “incomplete situations” it is independent from the current debt financing market situation and by this can be expected to continue its investment growth path.
Marcus Linnepe, CEO of CFC Industriebeteiligungen, is happy with the development CFC has taken in the third quarter and comments: „We will continue our successful development as well in the fourth quarter and have established the necessary basis and structures to accomplish this. We have a positive outlook for the year 2008.“
The complete quarterly report is available for download under http://www.cfc-eu.com/en/investor_relations/finanzberichte.
About CFC Industriebeteiligungen
CFC Industriebeteiligungen GmbH & Co. KGaA (CFC), Dortmund, is an investment company listed in the regulated market (General Standard) specialized on the acquisition and the active restructuring of medium-sized entrepreneur companies or Carve-outs of businesses of conglomerates in transitional situations. Investments are made only into companies that – despite their transitional conditions – have a health core structure. With own team and resources financial and operational measures are taken within short timeframe to initiate a long term profitable development within the CFC-group.
CFC Industriebeteiligungen GmbH & Co. KGaA
Dr. Frank J. Nellißen
Tel: + 49 (0) 231 952 53 73