IFCO SYSTEMS NV (IFE1:Xetra)

IFCO Systems NV expected to report Fiscal Year 2010 results on March 1, 2011. This event was calculated by Capital IQ (Created on June 27, 2010).

IFCO Systems NV reported earnings results for the first quarter of 2010. For the quarter, the company's group revenues grew by 10.9% to $188.4 million and operational profitability (EBITDA) improved significantly by 29.2% to $31.8 million compared to first quarter of 2009. Net profit decreased from $2.8 million to $0.9 million as higher ICE related expenses, net interest expenses and losses from discontinued operations more than offset the net operational improvements. Excluding nonrecurring items, mainly ICE related expenses, net profit would have been $6.2 million as compared to $6.5 million a year ago. Cash flow from continuing operations, excluding the cash flow effect of income tax payments and ICE related payments, increased significantly to $20.5 million from $8.8 million in first quarter of 2009 as a result of higher profit levels and improved working capital development. Capital expenditure increased by $13.4 million, or 117.1%, to $24.9 million. ROCE from continuing operations, on a LTM basis, increased to 20.4% as of March 31, 2010, compared to 15.3% as of March 31, 2009 and compared to 19.0% as of year end 2009. This positive development is the result of the Company's increased profitability and continuous improved utilization of the RPC pool. Diluted earnings per share were $0.02 against $0.05 a year ago.

IFCO Systems NV reported earnings results for the first quarter 2010. For the quarter, the company reported that revenues grew by 10.9% to $188.4 million and EBITDA improved significantly by 29.2% to $31.8 million compared to first quarter of 2009.