- Development of earnings of business right on schedule
- EBITDA from operations at EUR 1.3 million distinctly positive
- Partial sale of portfolio to Greenpark proofs investment approach and offers additional opportunity for new acquisitions
CFC Industriebeteiligungen GmbH & Co. KGaA (ISIN: DE000A0LBKW6), Dortmund, generated a distinctly positive result from operations in the first half of the fiscal year 2008. Group sales increased to more than EUR 64.9 million. The operating earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 1.3 million. The group result (after taxes, including minorities) came down EUR -2.7 Mio. due to seasonal effects. The result includes a single one-time effect from the capital consolidation of negative differences (“bargain purchases”) of acquired kitchen supplier MEF Möbel-Elemente-Franz GmbH in the amount of EUR 0.4 million.
In the second quarter of the year 2008, CFC Industriebeteiligungen GmbH & Co. KGaA gave proof of the fact that its investment approach and its restructuring work are considered extremely successful and promising by third parties as well. With the partial sale of 49 % of its portfolio companies to funds of the English investor Greenpark Capital Ltd. CFC achieved a purchase price of EUR 22,5 million and by this a return of the total invested capital of 120 % within 13 months of holding. As the transaction was completed end of July 2008 the results are not included in the half year results.
Mr. Marcus Linnepe, CEO of CFC Industriebeteiligungen, comments: “We have thus topped off the added value chain of an industrial holding company as we have shown that we cannot only acquire and restructure companies but that our commitment leads to high returns through sale as well. We are happy about this result, and we are happy for our shareholders in particular. We will use the received funds to follow our investment approach and continue the success story.”
You can receive the interim report on first quarter results under the following link: http://www.cfc-eu.com/en/investor_relations/finanzberichte/index_html
CFC Industriebeteiligungen GmbH & Co. KGaA
Dr. Frank J. Nellissen
Tel: + 49 (0) 231 222 40 500