CBF China Bio-Fertilizer AG
CBF has continued its highly profitable growth in FY2010
CBF China Bio-Fertilizer AG / Key word(s): Final Results 28.06.2011 / 11:14 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@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 --------------------------------------------------------------------- 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, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: CBF China Bio-Fertilizer AG Schopenstehl 22 20095 Hamburg Deutschland E-mail: hwong@chinabiofertilizer.com Internet: www.chinabiofertilizer.com ISIN: DE000A0AFEV5 WKN: A0AFEV Listed: Entry Standard in Frankfurt End of News DGAP News-Service --------------------------------------------------------------------- 129934 28.06.2011
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