CFC Industriebeteiligungen AG continues growth in the first half of 2011

• Revenues in the 1st half grow by 9 percent compared to the 1st half of 2010
• EBITDA in the 1st half at EUR 2.1mn (2010: EUR 2.2mn)
• EBITDA in the 2nd quarter at EUR 0.9 mn (2010: EUR 1.5 mn)

In the first half of 2011, CFC Industriebeteiligungen AG (ISIN: DE000A0LBKW6), Dortmund, continued the profitable growth.

Group sales for the first half of 2011 in the amount of EUR 41.9 mn exceed the sales volume of the same period of the previous year by 9 percent. The increase mainly rests upon the acquisition of NewTal Elektronik und Systeme GmbH as per January 2011. 

For the first half of fiscal year 2011, EBITDA sums up to a total of EUR 2.1 mn (2010: EUR 2.2 mn). In the second quarter, an EBITDA of EUR 0.9 mn has been generated compared to EUR 1.5 mn in the same period of the previous year. The group’s net income in the first half of 2011 was negative with EUR 1.1 mn.

In the first half of 2011, NewTal generated sales of EUR 5.5 mn and achieved a positive EBITDA of EUR 0.4 mn. Despite a decline in sales compared to the same period of 2010, Elcon achieved a significantly positive EBITDA of EUR 1.7mn at sales of EUR 14.6 mn. Generating revenues of EUR 8.7 mn Letron achieved the operative turnaround with a balanced EBITDA of kEUR 31. In the first half of 2011, Berndes managed to halve losses even though sales slightly decreased to EUR 15.1mn. In the first six months, the company realised an EBITDA of EUR -0.7 mn. Despite the significant improvement as far as profitability is concerned, the liquidity situation remains challenging during the summer.

On June 30th 2011, total equity of the group amounted to EUR 4.3 mn, compared to roughly EUR 5.3 mn at the end of fiscal year 2010. The equity ratio of the group equals approx. 7.2 percent and the corresponding figure of the parent company CFC Industriebeteiligungen AG approx. 46.2 percent.

The cash flow from operating activities was with EUR 2.4 mn still negative in the first half of 2011. Consequently, cash and cash equivalents in the group decreased and amounted to EUR 4.5 mn on June 30th 2011.

The accounts for the first half are available for download at the company website (http://www.cfc.eu.com) under Investor Relations/Financial Reports. The complete report for the first half of 2011 will be available at the same place as of September 16th, 2011.