DGAP-News: COR&FJA AG: COR&FJA publishes financial report for the first quarter of 2013
(firmenpresse) - DGAP-News: COR&FJA AG / Key word(s): Quarter Results
COR&FJA AG: COR&FJA publishes financial report for the first quarter
of 2013
29.05.2013 / 09:47
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COR&FJA publishes financial report for the first quarter of 2013
Turnover and earnings are in line with expectations - targets for the
current year are confirmed
(Leinfelden-Echterdingen, 29 May 2013) - COR&FJA AG (ISIN DE0005130108)
published its financial report for the first quarter of 2013 today. It
reveals that as at the reporting date, 31 March 2013, the company generated
aggregate turnover of 30.5 million euros. Although this is lower than the
figure in the corresponding period last year (31 March 2012: 35.3 million
euros), it is in conformity with the annual plan for 2013, which takes
account of the traditionally restrained market environment in the first
three months of a financial year.
In this context, the company's earnings before interest, taxes,
depreciation of property, plant and equipment and amortisation of
intangible assets (EBITDA) generated as at 31 March 2013 are also basically
in line with expectations at -4.8 million euros. The pronounced divergence
from the first quarter last year (31 March 2012: -30,000 euros) resulted
not only from the lower aggregate turnover, but also from the considerable
financial strains caused by a number of severance payments - which will,
however, be compensated for during the further course of the year due to
the savings associated with them - as well as the non-recurring costs of
the first restructuring measures at our subsidiary COR&FJA Metris GmbH.
Cash flow from operating activity was gratifyingly high at 5.3 million
euros, almost double the figure attained in the corresponding quarter last
year. As at the end of the first quarter of 2013, COR&FJA had 1,161
employees on its overall payroll.
Given the current market and sales situation, COR&FJA is assuming that it
will be able to meet the targets it has communicated for the ongoing
financial year 2013 with aggregate turnover of approximately 139.0 million
euros and earnings before interest, taxes, depreciation of property, plant
and equipment and amortisation of intangible assets (EBITDA) of around 5.0
million euros.
About COR&FJA
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. Its service
spectrum ranges from standard software and the provision of consultancy
services to the handling of IT operations (i.e. application service
providing). The COR&FJA Group has its head office in
Leinfelden-Echterdingen and offices in Munich, Aachen, Düsseldorf,
Frankfurt, Hamburg, Kiel, Cologne and St. Georgen, as well as subsidiaries
in the Netherlands, Denmark, Austria, Switzerland, Slovakia, Slovenia,
Poland, the Czech Republic, Portugal, Spain and the USA. It currently
employs a workforce of nearly 1,200.
Contact
COR&FJA AG
Corporate Communications
Humboldtstraße 35
70771 Leinfelden-Echterdingen, Germany
Tel. +49 711 94958-0
E-mail: presse(at)cor.fja.com
Internet: www.cor.fja.com
End of Corporate News
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29.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: COR&FJA AG
Humboldtstraße 35
70771 Leinfelden-Echterdingen
Germany
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, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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