CFC Industriebeteiligungen AG increases growth and operating result in the first quarter of 2011

• Revenue: growth of 19.5 percent in the 1st Quarter compared to the same period of the previous year
• EBITDA: growth of 77.3 percent to EUR 1.3 mn compared to the same period of the previous year (Q1-2010: 0.7 mn Euro)

 

In the first quarter of 2011, CFC Industriebeteiligungen AG (ISIN: DE000A0LBKW6), Dortmund, has continued the previous year’s positive development.

CFC’s group sales increased by 19.5 percent to EUR 22.3 mn compared to the same period of the previous year. The group’s earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 77.3 percent to EUR 1.3 mn. The consolidated net income for the first quarter was EUR -0.4 mn, which was within budget expectations.

Both segments of the group show a positive development in the first quarter of 2011.

In the segment “electronics”, Letron increased sales by 83.5 percent to EUR 4.1mn and improved the EBITDA to kEUR -42. Elcon generated sales of EUR 7.6mn and an EBITDA of EUR 1.2mn. Already in the first quarter of 2011, NewTal Elektronik und Systeme GmbH (NewTal) –acquired as of January 1st, 2011 –contributed a positive EBITDA of EUR 0.2mn to the group result. Sales in the first three months of 2011 amounted to EUR 2.6 mn. In the first quarter, SUCONI, the service company established in 2010, generated sales of EUR 0.2mn and a negative EBITDA within budget.

At a sales volume of EUR 9.0mn, Berndes generated a strongly improved EBITDA of EUR -0.2 mn in the first quarter and develops ahead of budget.

In the first three months of 2011, the group’s cash flow from operating activity was with EUR 0.9 mn negative. Cash and cash equivalents amounted to EUR 6.0mn as per March 31st, 2011. After the intensive investments in the previous months, the equity ratio of the group equals 8.2 percent as per March 31st, 2011.

The positive development of the group in the first quarter will be further promoted in the next months, such that the operating result for the complete fiscal year 2011 significantly exceeds the result of the previous year.

The accounts for the first quarter are available for download at the company website (http://www.cfc.eu.com) under Investor Relations/Financial Reports.