- Restructuring of acquisitions 2007 right on schedule
- EBITDA from operations at EUR 2.4 million distinctly positive
CFC Industriebeteiligungen GmbH & Co. KGaA (ISIN: DE000A0LBKW6), Dortmund, generated a distinctly positive result from operations in the first quarter of the fiscal year 2008. Group sales increased to more than EUR 41.9 million. The operating earnings before interest, taxes, depreciation and amortization (EBITDA) according to IFRS climbed to EUR 2.4 million. The CFC Group thus managed in the first quarter to generate an EBITDA margin of roughly 5.65 % of sales. The group result (after taxes, including minorities) came to kEUR 304. As CFC focused on restructuring the four holdings acquired in the year 2007 and made no new business acquisitions in the first quarter, the result does not include one-time effects from the capital consolidation of negative differences (“bargain purchases”) but was achieved in the property companies exclusively.
In early March CFC first obtained a limited license to the ladies’ apparel trademark Hirsch. In early April this brand was acquired completely from the insolvency assets of the company in liquidation, Hirsch AG.
The success of the restructuring efforts shows already in the first quarter, against the backdrop of the scenario that the majority of holdings have been acquired within the last twelve months as companies in need of rescue. Mr. Marcus Linnepe, CEO of CFC Industriebeteiligungen, comments: “The companies’ operating performances are very satisfying. We are making good progress with the restructuring work. With respect to potential new acquisitions, we continue to be very selective to develop the portfolio purposefully. We are right on schedule for 2008.”
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
Fax: + 49 (0)231 22240 501