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CDV Restructuring Bears Positive Results

by Rainier on Jan. 20, 2008 @ 12:11 a.m. PST

cdv Software expects to report a revenue before returns and conditions of about 24 million EUR for the business year concluding on Dec. 31, 2007. The management board expects earnings of approximately 2.7 million EUR for 2007, compared to an overall loss of 8.3 million EUR during the previous year.

This result is based on a pro forma basis, taking into consideration revenue and expenditures of all subsidiaries which were acquired during 2007. This represents a growth of 50 percent when compared to the previous year's revenue (16 million EUR). On a pro forma basis, the management board expects earnings before income and taxes (EBIT) of approximately 2.7 million EUR for 2007, compared to an overall loss of 8.3 million EUR during the previous year. These numbers considerably exceed even the company's own expectations of 2 million EUR.

These earnings illustrate further that cdv Software Entertainment AG is well on the way to becoming the leading full-service provider of computer- and video games as well as accessories; a performance growth of over 10 million EUR in a period of 12 months also proves the effectiveness and long-term success of its recent restructuring efforts. Due to the better than expected performance for the reporting period, management has elevated its forecast for 2008, expecting identical or greater revenue growth, with an anticipated double-digit EBIT for the coming year.

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