COR&FJA AG Reports Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Full Year 2014
COR&FJA AG reported earnings results for the first quarter ended March 31, 2014. For the period, the company generated aggregate turnover of 23.9 million against 30.5 million a year ago. Earnings before interest, taxes, depreciation of property, plant and equipment and amortisation of intangible assets (EBITDA) totaling 6.2 million against loss of 4.8 million a year ago. This means that as far as turnover is concerned, the company is performing in line with expectations, although a comparison with the same period last year is impossible because the relevant data still included the turnover figures of the now disposed-of Banking segment as well as those from the previous full consolidation of the plenum subgroup. The EBITDA figures in the current reporting period are likewise in line with COR&FJA's plans and are shaped significantly by the deconsolidations of the former banking subsidiary and the plenum subgroup, which have resulted in non-recurring income in the medium seven-figure range.
In view of the current market and sales situation, the company expects to generate turnover of roughly 100.0 million and an operating result before interest, taxes, depreciation of property, plant and equipment and amortisation of intangible assets (EBITDA) of some 11.0 million in the current financial year 2014.