- EBITDA in the 2nd quarter at EUR 1.5 mn (2009: EUR -18.1 mn)
- EBITDA in the 1st half at EUR 2.2 mn (2009: EUR -17.7 mn)
- Group result in the 1st half at EUR 0.2 mn (2009: EUR -27.9 mn)
- Revenue in the 1st half approx. 27 percent above the comparable period of the previous year
- Cash flow from operating activities in the 1st half increases to EUR 4.0 mn
With a strong second quarter 2010, CFC Industriebeteiligungen AG (ISIN: DE000A0LBKW6), Dortmund, has continued the already positive trend of the first quarter and, therefore, confirmed the operative turnaround. All profitability-oriented ratios for the group are clearly positive again. CFC draws up the balance exclusively according to German GAAP.
In the second quarter, an EBITDA of EUR 1.5 mn has been generated, compared to minus EUR 18.1mn in the same period of the previous year. For the complete first half of fiscal year 2010, EBITDA sums up to a total of EUR 2.2 mn. By comparison: In the first half of 2009, the group had a negative EBITDA of EUR 17.7 mn. The group’s net income in the first half of 2010 in the amount of EUR 0.2mn was also positive. In contrast, in the first half of 2009 a net loss in the amount of minus EUR 27.9 mn had been realised.
Group sales for the first half of 2010 in the amount of EUR 38.5 mn exceed the sales volume today’s portfolio companies generated in the same period of the previous year by 27 percent. In the first half of 2009, group sales in the amount of EUR 68.1 mn included considerable revenues of meanwhile divested companies.
On June 30th 2010, total equity of the group amounted to EUR 12.9 mn, compared to roughly EUR 12.6 mn at the end of fiscal year 2009. The equity ratio of the group equals approx. 25.2 percent.
The cash flow from operating activities was with EUR 4.0mn significantly positive in the first half of 2010, compared to minus EUR 14.6 mn in the same period of 2009. Cash and cash equivalents in the group further increased and amounted to EUR 6.3 mn on June 30th 2010.
These positive earnings and cash flow figures are proof for the effectiveness of the measures CFC Industriebeteiligungen AG had initialized in 2009 and continued in the first half of 2010.
CFC feels vindicated in the course it adopted in 2009 by the results of the first half of 2010 and finds itself well positioned for the future. In the next months, the achieved results on the portfolio company level will be further developed and the portfolio, by means of acquisitions, specifically enhanced.
Today, Tuesday august the 17th at 12:30pm, the management board of CFC will conduct a telephone conference for investors, analysts, and media representatives. In this conference the figures of the first half of 2010 and the perspective for future business will be outlined in detail. The free of charge dial-in is 0800/ 1012072. The required password for access can be requested from Dr. Rainer Brändle, edicto GmbH, under +49 69 905505-50 or email@example.com.
The complete report for the first half is available for download at the company website (http://www.cfc.eu.com) under Investor Relations/Financial Reports.
CFC Industriebeteiligungen AG
Tel: + 49 (0) 231 222 40 500