CFC Industriebeteiligungen GmbH & Co. KGaA / Final Results
30.04.2009
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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++ CFC Industriebeteiligungen releases annual report 2008
++ Increase in group sales to EUR 138.3 million
++ Result from operations significantly improved against 2007
Today CFC Industriebeteiligungen GmbH & Co. KGaA (ISIN: DE000A0LBKW6),
Dortmund, released the annual report 2008 and presented the audited
consolidated financial statements (IFRS) for the past fiscal year. The
business results are slightly higher than announced with the presentation
of preliminary figures on March 27, 2009.
In past fiscal year 2008 CFC more than doubled group sales compared to the
previous year to roughly EUR 138.3 million (2007: EUR 66.1 million).
Annualized group sales climbed to EUR 174 million (2007: EUR 156 million),
in pro forma consideration of fashion company Rosner KG, taken over at the
end of December, for the whole year. Earnings before interest, taxes,
depreciation and amortization (EBITDA) gained 30 percent to EUR 18.9
million (2007: EUR 14.5 million), the result from operations (EBIT) of
EUR 13.3 million (2007: EUR 12.1 million) has similarly improved by 10
percent against the prior-year level. Due to the first-time consideration
of the portfolio companies over a full reporting period and the
corresponding finance expense, earnings before taxes (EBT) amount to
EUR 9.9 million (2007: EUR 11.2 million). The group net income of EUR 11.1million or EUR 1.73 per share (2007: EUR 13.3 million or EUR 2.15 per
share) is close to 60% above market expectations. Because of two
acquisitions made last year - fashion company Rosner KG and one other
takeover- the group net income 2008 includes profit contributions from
capital consolidation (so-called bargain purchases) to the amount of
EUR 15.2 million (2007: EUR 19.4 million). Furthermore, CFC sold three of
its portfolio companies to funds of financial investor Greenpark, Guernsey,
in the middle of last year. This transaction contributed the amount of EUR
7.2 million to the past fiscal year's group net income.
As of the end of the year, the CFC Group had 1,032 employees (2007: 747
employees).
Marcus Linnepe, CEO of CFC Industriebeteiligungen, summarizes the most
important business events of the past fiscal year and offers an outlook for
2009: 'For CFC, 2008 was shaped by a positive performance and an expansion
of the investment portfolio. This is reflected in significantly improved
results from operations of the group. With Greenpark we also found a
co-investor in the last year who is convinced of our sustainable investment
approach and who documented this conviction with the purchase of 49% of
our then-investment portfolio. In 2009 on the one hand the restructuring
effort started at the portfolio companies can be continued on this basis
even under this year's challenging conditions, on the other hand additional
acquisitions, for which there are very attractive opportunities at present,
can be realized. Takeover options will be examined conservatively and
actual acquisitions will be financed without exhausting our liquidity.'
The complete annual report 2008 is downloadable from the company website
(http://www.cfc.eu.com) under Investor Relations/Financial
reports.
Contact:
CFC Industriebeteiligungen GmbH & Co. KGaA
Dr. Frank Nellißen
Chief Financial Officer
Tel: +49 231 222 40 501
eMail: fn@cfc.eu.com
DGAP 30.04.2009
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Language: English
Issuer: CFC Industriebeteiligungen GmbH & Co. KGaA
Westfalendamm 9
44141 Dortmund
Deutschland
Phone: +49 (0)231-22240 500
Fax: +49 (0)231-22240 501
E-mail: info@cfc-eu.com
Internet: www.cfc-eu.com
ISIN: DE000A0LBKW6
WKN: A0LBKW
Listed: Regulierter Markt in Frankfurt; Freiverkehr in Berlin,
Düsseldorf, Stuttgart
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DGAP-News: CFC Industriebeteiligungen releases annual report 2008
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