DGAP-News: COR&FJA AG: COR&FJA posts a good first quarter in 2010
(firmenpresse) - COR&FJA AG / Quarter Results
27.05.2010 13:20
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COR&FJA posts a good first quarter in 2010
Turnover was EUR 28.4 million, while earnings before tax (EBT) - taking
merger-related amortisation into account - totalled EUR 0.5 million
(Leinfelden-Echterdingen, 27 May 2010) - COR&FJA AG (ISIN DE0005130108)
today published its financial report for the first quarter of 2010, which
indicates that it started the current financial year well in the first
quarter of 2010. Turnover more than doubled compared with the corresponding
quarter last year and totalled EUR 28.4 million (previous year: EUR 13.8
million). This increase results in particular from the fact that the former
COR's figures have been included in their entirety in the COR&FJA AG
balance sheet since the first quarter of 2010 - after only the months of
November und December for COR had been included in the 2009 consolidated
financial statements.
Earnings before tax (EBT) amounted to EUR -50,000 in the first quarter of
2010. Adjusted for the scheduled amortisation of the hidden reserves
totalling EUR 597,000 at the former COR AG which resulted from the merger,
the figure for EBT would be EUR 0.5 million. In the corresponding period
last year, the former FJA AG posted EBT of EUR 0.2 million and the former
COR AG generated EBT of EUR -1.6 million.
Outlook for the 2010 financial year
Experience shows that the second half of the year produces the stronger
turnover and earnings figures for COR&FJA. That is why the company remains
confident that it will achieve the budget figures for 2010 that it
published at the beginning of February, namely turnover of EUR 123 million
and EBTA of EUR 7.5 million.
COR&FJA is expecting to see a further increase in regulation throughout the
financial services sector as a direct consequence of the still persistent
economic and financial crisis. From the company's point of view, this will
make it necessary to carry out substantial adjustments for almost all the
solutions currently used and will further intensify the trend towards the
use of standard software - a development that COR&FJA has been observing
since the 2002 financial crisis and from which the company has been able to
benefit.
About COR&FJA
The COR&FJA Group is one of the leading software and consulting firms for
the European financial services industry, focusing on banks and insurance
companies as well as company pension scheme organisations. The services
range from standard software via consulting through to taking over IT
operations (Application Service Providing). The COR&FJA Group employs
around 1,000 people at locations in Leinfelden-Echterdingen, Munich,
Stuttgart, Düsseldorf, Frankfurt, Hamburg, Kiel and Cologne and has
subsidiaries in the Netherlands, Austria, Switzerland, Slovakia, Slovenia
and the US.
Contact
COR&FJA AG
Corporate Communications
Karlsruher Straße 3
70771 Leinfelden-Echterdingen
Tel. +49 711 94958-0
E-mail: presse(at)cor.fja.com
Internet: www.cor.fja.com
Contact:
Frank Fahrner
COR&FJA AG
Karlsruher Straße 3
70771 Leinfelden-Echterdingen
Germany
Phone: +49 711 94958-730
Fax: +49 711 94958-8730
frank.fahrner(at)cor.fja.com
27.05.2010 13:20 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: COR&FJA AG
Karlsruher Straße 3
70771 Leinfelden-Echterdingen
Deutschland
Phone: +49 (0)711 94958-0
Fax: +49 (0)711 94958-49
E-mail: investor.relations(at)cor.fja.com
Internet: www.cor.fja.com
ISIN: DE0005130108
WKN: 513010
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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