DGAP-News: CBF has continued its highly profitable growth in FY2010
(firmenpresse) - DGAP-News: CBF China Bio-Fertilizer AG / Key word(s): Final Results
CBF has continued its highly profitable growth in FY2010
28.06.2011 / 11:14
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Hamburg, Germany, 28 June 2011 - In the financial year 2010 CBF China
Bio-Fertilizer AG has continued its highly profitable growth. And with its
successful listing in the Entry Standard of Deutsche Börse the Company has
laid the foundations for further growth. The company already doubled its
annual production capacity from 10,000 tonnes to 20,000 tonnes in early
2011 and plans to increase it to 30,000 tonnes in the second half of 2011.
'We are pleased to present our first annual report as a listed company to
our shareholders. The financial statements 2010 were subject to a voluntary
audit,' comments Tao JIANG, CEO of CBF China Bio-Fertilizer AG. 'We are
optimistic about our business performance in FY2011. We anticipate that the
rapidly rising demand for our products combined with our increased
production capacities will continue to fuel strong performances of our
business.'
As a result of increased sales volumes for both its liquid and powder
products, the Company's sales jumped by an impressive 140%. The sales in
FY2010 reached a new record high of EUR 10.8 million, up from EUR 4.5
million in FY2009. With increasing sales and stable production costs, the
Company's gross profit also increased by 140% from EUR 3.34 million in
FY2009 to EUR 7.99 million in FY2010. The overall gross margin remained
constant at 74% in FY2010 as compared to FY2009. Total comprehensive income
increased from EUR 2.17 million in FY2009 to EUR 5.42 million in FY2010.
As of 31 December 2010, the Company's total net assets amounted to EUR
10.93 million, representing an increase of 710% or EUR 9.58 million from 31
December 2009. The significant increment was mainly due to the superb
financial performance of the Company during the year and the capital
increase from new shares issued at the IPO in December 2010. The robust
financial performance, combined with the Company's efforts to strengthen
its balance sheet, generated a basic earnings per share of EUR 5.72 in
FY2010.
About CBF China Bio-Fertilizer AG
CBF China Bio-Fertilizer AG ('CBF') produces and distributes bio fertilizer
through its operating subsidiary in China. Based on its own estimates, the
company is the market leader in the Chinese market for bio fertilizer. Its
products reduce the use of conventional fertilizers and simultaneously
boost crop yields. CBF is licensed by the Ministry of Agriculture of the
People's Republic of China.
The operating subsidiary of CBF 'Shandong Chengwu Jiuzhou Science and
Technology Development Company Limited' was founded in Shandong Province,
China, in 2005, with a view to exploiting biotechnological processes for
agriculture. After three years of development work, in May 2009 the company
launched its first bio fertilizer product based on microorganisms in the
Chinese market under the brand name 'Xin Sheng Li'.
At present CBF distributes its bio fertilizer in 11 of 26 Chinese
provinces. The company intends to expand to further provinces. CBF
currently sells its fertilizer directly to major agricultural cooperatives,
plantations and wholesalers in China.
For more information, please contact:
Kirchhoff Consult AG
Janina Wismar, Tel.: +49 (0) 40 60 91 850, janina.wismar(at)kirchhoff.de
or go to www.chinabiofertilizer.com
Disclaimer
This publication constitutes neither an offer for the sale of or an
invitation to buy securities of CBF China Bio-Fertilizer AG.
This document is not an offer for securities for sale in the United States
of America. Securities may only be sold or offered for sale in the United
States of America following their prior registration in accordance with the
provisions of the U.S. Securities Act of 1933 as amended or, without prior
registration, only on the basis of an exemption. The shares of CBF China
Bio-Fertilizer AG are not and shall not be registered in accordance with
the provisions of the U.S. Securities Act of 1933 as amended and are
neither sold nor offered for sale in the United States of America.
This document is only distributed to and targeted at (i) persons outside of
the United Kingdom or (ii) professional investors pursuant to Article 19(5)
of the Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 or (iii) companies with assets and other persons with assets pursuant
to Articles 49(2)(a) to (d) of the Order (with these persons being referred
to as 'qualified persons'). All securities referred to here are available
to qualified persons only and any request, offer or agreement to obtain,
purchase or acquire such securities by any other means shall only be made
in relation to qualified persons. Individuals who are not qualified persons
should under no circumstances take action on the basis of this information
or its content.
End of Corporate News
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28.06.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: CBF China Bio-Fertilizer AG
Schopenstehl 22
20095 Hamburg
Deutschland
E-mail: hwong(at)chinabiofertilizer.com
Internet: www.chinabiofertilizer.com
ISIN: DE000A0AFEV5
WKN: A0AFEV
Listed: Entry Standard in Frankfurt
End of News DGAP News-Service
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129934 28.06.2011
Datum: 28.06.2011 - 11:14 Uhr
Sprache: Deutsch
News-ID 34478
Anzahl Zeichen: 0
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Kategorie:
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