COR&FJA AG / Key word(s): Results Forecast
18.02.2011 07:56
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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COR&FJA AG announces its target figures for the 2011 financial year: sales
EUR 124.5 million, EBT EUR 9.2 million before merger-related depreciation
and amortisation
(Leinfelden-Echterdingen, 18 February 2011) - COR&FJA AG is expecting to
generate aggregate turnover of EUR 124.5 million in the 2011 financial
year, representing an increase of almost six per cent compared with the
turnover forecast for 2010 (EUR 118.0 million). This means that the company
is one of the largest suppliers of standard software in any sector on the
German market. Its EBT, or operating result (reported here and below before
amortisation of the intangible assets identified in the course of the
merger with COR AG), is expected to total EUR 9.2 million in 2011. For the
financial year ended, COR&FJA anticipates EBT of EUR 4.8 million plus the
non-recurring effects from the valuation of the investment in B+S
Banksysteme Aktiengesellschaft amounting to EUR 3.2 million. This means
that all in all, an increase of more than 90 per cent in EBT is anticipated
for the current financial year.
The expected improvement in turnover and earnings at COR&FJA can be
attributed firstly to noticeable demand from abroad and on the non-life
insurance market. Secondly, the imminent decrease in the actuarial rate
will confront life insurers with the challenge of offering new products and
therefore depicting them by IT means as quickly as possible. Furthermore,
COR&FJA is anticipating perceptible reductions in its costs as a result of
the synergy effects from the recent merger.
The COR&FJA Group is one of the leading software and consulting companies
for the European financial services industry, focusing on insurance
companies, banks and providers of company pension funds. The service
spectrum ranges from standard software and provision of consultancy
services to the takeover of IT operations (Application Service Providing).
The COR&FJA Group, which has its head office in Leinfelden-Echterdingen and
offices in Munich, Düsseldorf, Frankfurt, Hamburg, Kiel and Cologne, as
well as subsidiaries in the Netherlands, Austria, Switzerland, Slovakia,
Slovenia, Portugal and the US, currently employs around 1,000 staff.
Issuing party:
COR&FJA AG
Investor Relations
HumboldtstraÃe 35
70771 Leinfelden-Echterdingen
Tel. +49 711 94958-0
E-mail: investor.relations@cor.fja.com
Internet: www.cor.fja.com
WKN 513010, ISIN DE0005130108
Stock exchange centres: Regulated market in Frankfurt (Prime Standard);
Open market in Berlin, Düsseldorf, Hamburg, Stuttgart
Contact:
Frank Fahrner
COR&FJA AG
HumboldtstraÃe 35
70771 Leinfelden-Echterdingen
Germany
Phone: +49 711 94958-730
Fax: +49 711 94958-8730
E-Mail: frank.fahrner@cor.fja.com
18.02.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: COR&FJA AG
HumboldtstraÃe 35
70771 Leinfelden-Echterdingen
Deutschland
Phone: +49 (0)711 94958-0
Fax: +49 (0)711 94958-49
E-mail: investor.relations@cor.fja.com
Internet: www.cor.fja.com
ISIN: DE0005130108
WKN: 513010
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: COR&FJA AG: COR&FJA AG announces its target figures for the 2011 financial year: sales EUR 124.5 million, EBT EUR 9.2 million before merger-related depreciation and amortisation
| Source: EQS Group AG