UFC Holding N.V.
UFC Holding N.V.: UFC China releases preliminary China GAAP results for the fiscal year 2007 and start of French goose farming business
UFC Holding N.V. / Preliminary Results/Preliminary Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Eindhoven, May 5, 2008 – Today, UFC Holding N.V. announced UFC China’s preliminary results for the fiscal year 2007, which were audited according to China GAAP standards. The company is now in the process of converting the China GAAP figures into IFRS standards. UFC China is pleased to announce that the sales figures grew from € 3.8 million in the fiscal 2006 year to € 4.0 million in 2007. Net income for 2007 was € 1.0 million, a 26% increase compared to 2006 (€ 0.8 million). Combined with the UFC Holding Expenses the net income will be approximately € 0.9 million. In 2007, the company made investments of € 0.94 million for its mushroom project and € 0.2 million to implement a further revenue stream, goose farming. UFC’s management team is pleased with the positive developments and is looking towards a promising future. According to a company evaluation study from Sallmans (Far East) Ltd the company’s present value of free cash flows from 2007 – 2022 is € 15.6 million. Furthermore, on the 14th March 2008, 1500 'little angels' a special land goose race from France found a new home in UFC wood and forest territories. Mr. Xu, President from UFC Hubei and Mr. Yulan Noret, General agent of China region, Sepalm Selection De Palmipeds, a French leading poultry breeding enterprises escorted these 'little angels' all the way from France to China to guarantee the safety of their life during the delivery, spot quarantine and storage. This species, directly imported from France will ensure the quality of Landaise goose. This is also playing an important role for the blood renewal of local goose, higher yield of liver rate and the abundance of the citizen’s dining table. The Landaise goose is the world renowned exclusive species for the extraction of fatty liver with high bio-mechanism, high activity, high utility, highly added value and high-tech contents. As one of the best-seller in the world nutritious high heat energy food market, the goose fatty liver boasts in Western Europe as 'King of green food' and 'Emperor of dining table' owing to its rareness. Along with the significant goal that turns the livestock husbandry into a big industry in China, the goose raising industry will make a big step towards a promising future. It is anticipated that in the upcoming three to five years the yearly throughput of Landaise goose in China will reach to 100,000,000 feathers and more than ten thousand tons of fatty goose liver, ensuring the most sufficient resources for the extraction of highly accurate medical lecithin which extends the usage of goose fatty liver to the high-tech realm. Under such circumstances, the research and development of the project surely has huge competitive potential and brilliant market prospect with remarkable economic and social benefit. Moreover, in 2007 UFC China invested RMB 2 million (€ 189,000) on Landaise raising tentatively, and judged from the factual operation of UFC, the ROI (return on investment) of Landaise goose raising has reached 32% annually. More information regarding UFC Holding N.V. can be found at the company’s website www.ufc-holding.com. For any further information, please contact our Corporate Communications Team directly: UFC Holding N.V. Corporate Communication t: +49 (0) 89 244118-414 f: +49 (0) 89 244118-499 About UFC Holding N.V. UFC Holding N.V. is a Dutch based holding company that focuses on investments in the forestry industry in China. The Chinese forestry policy and the encouragement of private sector investments in forestry by the Chinese Central Government greatly improves UFC´s chances to participate in a developing market with a high growth potential. UFC as a Group has a clear focus on becoming one of the top 10 forestry companies in China 05.05.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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