CFC releases interim report on the third quarter 2009

• Focusing on core segments Home & Living and Electronics completed 
• Nine-month sales 12 percent below prior-year result due to economic crisis 
• EBITDA at EUR -1.3 million 
• Positive developments in 4th quarter 
• Elcon’s performance clearly ahead of schedule 
• Berndes opens complementary business area “Cutlery” and forges cooperation with European cookware manufacturer 

CFC Industriebeteiligungen GmbH & Co. KGaA (ISIN: DE000A0LBKW6), Dortmund, pushed its focusing on the efficient operations of its core segments Home & Living and Electronics represented by companies Berndes, Elcon und Letron in the third quarter 2009, bringing this effort to completion shortly after the end of the quarter. These segments can now be strengthened and expanded through selected new commitments. 

Sales according to IFRS generated by the business operations to be continued (i.e. without delmod, Format, and Rosner) amounted to EUR 48.0 million in the first nine months of 2009, compared to EUR 54.8 million in the prior‐year period. The EBITDA of the first nine months came to EUR ‐1.3 million for the continued enterprises, after EUR 10.6 million in the period of comparison. The group result after taxes from the continued business was EUR ‐4.5 million compared to EUR 4.4 million one year ago. In relation to the continued operations’ total assets, the equity ratio came to 20.5 %. The group had cash and cash equivalents of EUR 3.3 million as of the balance sheet date. 

In the course of the year and particularly after the end of the quarter, numerous positive developments have given rise to optimism with regard to the portfolio companies’ further development. 

Berndes managed to open up a complementary business area in the field of “Cutlery”, substantiating this effort with a first major contract. Furthermore, the company forged a cooperation agreement with a European cookware manufacturer, expected to deliver considerable stimuli for the year 2010. Elcon is showing a pleasant performance in the current year, resulting after nine months in an operating result (EBITDA) ahead of schedule and a sale increase over the previous year. In view of the market’s anticipated 15 % decrease in the year 2009, Elcon posts a remarkable 22 % growth. 

At the Extraordinary General Meeting held on November 20, 2009, the company’s conversion into a stock corporation (Aktiengesellschaft) was resolved. CFC’s management is certain that the Aktiengesellschaft is the legal form suited best for the realization of the company’s next growth step. The creation of new authorized capital was decided as well. This makes it possible to respond faster and in a more flexible manner to opportunities for the acquisition of companies or investments as they arise. 

The complete report on the third quarter is available for download at the company website (http://www.cfc.eu.com) under Investor Relations/Financial Reports.