- Sales gone up by 70 percent against prior-year quarter
- EBITDA from operations at EUR 6.9 million distinctly positive
- Sufficient liquid funds for increasing takeover opportunities arising due to financial crisis
CFC Industriebeteiligungen GmbH & Co. KGaA (ISIN: DE000A0LBKW6), Dortmund, increased sales from operations across the Group by 70 percent in the third quarter of the year 2008 against the prior-year quarter to EUR 41.2 million (prior-year quarter: EUR 24.2 million). In the first nine months of the year, sales totalled EUR 106.0 million on group level (prior-year: EUR 42.2 millions). The operating earnings before interest, taxes, depreciation and amortization (EBITDA) of the reporting quarter amounted to EUR 6.9 million (prior-year quarter: EUR – 2.0 million) resulting in a total for the first nine months of EUR 8.2 million (prior year: EUR 1.7 million). The group result (after taxes, including minorities) amounted to EUR 4.1 million in the third quarter (prior-year quarter: EUR – 3.2 million) and EUR 1.3 million in the first nine months of the year (prior year: EUR 0.1 million). The result includes a contribution in the amount of EUR 7.1 million from the sale of parts of three portfolio companies to funds managed by the English investor Greenpark. On record date, the Group has an equity share of more than 30 percent and holds liquid funds of EUR 11.1 million.
Marcus Linnepe, CEO der CFC Industriebeteiligungen: „The third quarter was a strong quarter for CFC. Sales and results have developed extremely positive. We hold – not only as a consequence of the successful transaction with Greenpark, which has proven our investment approach and endorsed our restructuring work – sufficient liquid funds and are thus well prepared for the current financial market situation and the increasing takeover opportunities arising out of this. We are examining these offers very carefully against the background of the current economic climate. We are intensively doing this and we owe it to our investors to raise the bars high for an investment decision in order to be able to achieve sustainable success“.
By decision of the shareholders’ meeting on November 6, 2008, Dr. Frank J. Nellissen was duly appointed as Managing Director of CFC Industrie Beteiligungen Verwaltungs GmbH in addition to Marcus Linnepe. Dr. Nellissen is in charge of Finance and Legal at CFC-Group since the middle of last year.
The full interim report on third quarter results is available for download under the following address: http://www.cfc-eu.com/en/investor_relations/finanzberichte/index_html
CFC Industriebeteiligungen GmbH & Co. KGaA
Dr. Frank J. Nellissen
Chief Financial Officer
Tel: + 49 (0) 231 222 40 500