Compagnie d' Entreprises CFE SA announced consolidated earnings results for the first quarter of 2012. In the first quarter of 2012, the company generated revenue of EUR 417 million, an increase of 6% relative to the year-earlier figure of EUR 394 million. Net financial debt at end-March 2012 amounted to EUR 405 million, as opposed to EUR 351 million at end-2011, the investments for this term amounts to EUR 75 million. This figure comprises EUR 413 million of long-term debt, mainly relating to the dredging business, and a net short-term cash position of EUR 8 million. The company announced that full-year 2012 revenue is only likely to see moderate growth, since major new dredging orders are due to be performed between 2013 and 2015. Taken into account the evolution to the activity in the first quarter of 2012 and the work planning related to major projects, full-year earnings are likely to approach those of 2011.