In the 3rd quarter of 2010 CFC Industriebeteiligungen AG continues the positive trend of the first six months
- EBITDA in the 3rd quarter at EUR 1.0mn (2009: EUR -5.8mn)
- EBITDA after nine months at EUR 3.3mn (2009: EUR -23.5mn)
- Revenue after nine months with EUR 59.1mn approx. 23.5 percent above the comparable period of the previous year
- Cash flow from operating activities after nine months increases to EUR 5.0mn
In the third quarter of 2010, CFC Industriebeteiligungen AG (ISIN: DE000A0LBKW6), Dortmund, has continued the already positive trend of the first half of 2010 and, once again, confirmed the operative turnaround. CFC draws up the balance exclusively according to German GAAP.
In the third quarter, an EBITDA of EUR 1.0mn has been generated, compared to minus EUR 5.8mn in the same period of the previous year. For the first nine months of fiscal year 2010, EBITDA sums up to a total of EUR 3.3mn. By comparison: In the first nine months of 2009 the group had a negative EBITDA of EUR 23.5mn. Influenced by reductions in inventories the group's net income in the first nine months of fiscal year 2010 amounted to minus EUR 0.1mn, after minus EUR 31.7mn in the same period of the previous year.
Group sales for the first three quarters of 2010 in the amount of EUR 59.1mn exceed the sales volume today's portfolio companies generated in the same period of the previous year by 23.5 percent.
On September 30th 2010, total equity of the group amounted to EUR 12.7mn, compared to roughly EUR 12.6mn at the end of fiscal year 2009. The equity ratio of the group equals approx. 24.3 percent.
The cash flow from operating activities was with EUR 5.0mn significantly positive in the first nine months of 2010, compared to minus EUR 18.7mn in the same period of 2009. Cash and cash equivalents in the group further increased and amounted to roughly EUR 7.0mn on September 30th 2010.
CFC continuously feels vindicated in the course it adopted in 2009 - the concentration on its core segments - by the results of the third quarter and finds itself well positioned for the future. In the next months, the achieved results on the portfolio company level will be further developed and the portfolio, by means of acquisitions, specifically enhanced.
The accounts for the third quarter are available for download under the following link: Third Quarter Accounts 09/33/2010