DGAP-News: COR&FJA AG / Key word(s): Quarter Results
COR&FJA AG: COR&FJA publishes three-months report for 2014
01.05.2015 / 16:32
COR&FJA publishes three-months report for 2014
(Leinfelden-Echterdingen, 28 May 2014) - COR&FJA AG published its financial
report for the first quarter of 2014 today. It reveals that as at the
reporting date 31 March 2014, the company generated aggregate turnover of
23.9 million euros (31 March 2013: 30.5 million euros) and earnings before
interest, taxes, depreciation of property, plant and equipment and
amortisation of intangible assets (EBITDA) totalling 6.2 million euros (31
March 2013: -4.8 million euros).
This means that as far as turnover is concerned, COR&FJA 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.
Cash flow from operating activity was similarly pleasing, more than
doubling since the corresponding quarter last year to 12.3 million euros.
As at the end of the first quarter of 2014, COR&FJA has an aggregate
workforce of 881 (31 December 2013: 1,116) employees. This significant
decrease results in particular from the fact that Sopra Banking Software
GmbH (formerly COR&FJA Banking Solutions GmbH) and plenum AG and their
subsidiaries are no longer part of COR&FJA AG's consolidated group.
In view of the current market and sales situation, COR&FJA is expecting to
generate turnover of roughly 100.0 million euros and an operating result
before interest, taxes, depreciation of property, plant and equipment and
amortisation of intangible assets (EBITDA) of some 11.0 million euros in
the current financial year 2014.
The COR&FJA Group is one of the leading software and consulting companies
for the European insurance sector, focusing on life insurance companies 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, Hamburg, Cologne and St. Georgen, as
well as subsidiaries in the Netherlands, Austria, Switzerland, Slovakia,
Slovenia, Poland, the Czech Republic, Portugal and the USA. It currently
employs a workforce of nearly 900.
70771 Leinfelden-Echterdingen, Germany
Tel. +49 711 94958-0
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Company: COR&FJA AG
Phone: +49 (0)711 94958-0
Fax: +49 (0)711 94958-49
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
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(END) Dow Jones Newswires
May 28, 2014 10:32 ET (14:32 GMT)