EnviTec Biogas AG

Earnings Release • Apr 30, 2008

News Details

Corporate | 30 April 2008 07:44

Final figures for 2007 confirm profitable growth of EnviTec Biogas

EnviTec Biogas AG / Final Results/Final Results

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Final figures for 2007 confirm profitable growth of EnviTec Biogas

• Net profit up 24 percent to ER 14.3 million

• Sales rise 31.5 percent to EUR 132.4 million

• EUR 115 million in liquid funds to finance future growth

Lohne, April 30, 2008 – EnviTec Biogas AG [ISIN: DE000A0MVLS8, WKN: A0MVLS]
continued its profitable growth in fiscal 2007 in spite of the difficult
market environment. The Lohne-based company boosted its sales revenues by
31.5 percent from EUR 100.7 million to EUR 132.4 million. As announced on
13 March, earnings before interest and taxes (EBIT) amounted to EUR 18.1
million (previous year: EUR 18.5 million). The profitability of the biogas
plant manufacturer is also reflected in an EBIT margin of 13.6 percent
(previous year: 18.4 percent). Net profit for the year rose by an
impressive 24 percent from EUR 11.5 million to EUR 14.3 million. This is
equivalent to earnings per share of EUR 0.96. In the past fiscal year, the
company installed 105 modules (previous year: 80) with a rated electrical
output of 52 MW (previous year: 40 MW). The company’s total installed base
thus comprises 236 modules with a rated electrical output of 114 MW. The
headcount increased from 197 to 279 as of 31 December 2007.

'While demand for biogas plants was very high in the first six months of
the year, our customers, especially in Germany, showed considerable
restraint in autumn and winter. This is attributable to the discussion
about the amendment of the German Renewable Energy Sources Act (EEG) and
increased commodity prices,' said Olaf von Lehmden, CEO of EnviTec Biogas.
'We continued our international expansion with great success. We now
operate in 16 countries and generated sales in an amount of EUR 8.2 million
outside Germany in 2007.' International orders accounted for EUR 36.6
million of the total order backlog of EUR 122.8 million reported as of 31
December 2007.

At the end of the fiscal year 2007, EnviTec Biogas had liquid funds in an
amount of EUR 115 million. The company’s equity ratio climbed from 41.2 to
87.0 percent. In 2007, the company again invested heavily in the expansion
of its business segments (total capex volume: EUR 17.8 million). These
funds were primarily invested in the expansion of the Own Plant Operation
Division, which operates biogas plants in cooperation with partners. At the
end of December, plants with a rated electrical output of 8.4 MW were
connected to the grid or under construction.

'We are very confident that we will continue our strong and profitable
growth in the long term,' said Jörg Fischer, CFO of EnviTec Biogas. 'Our
high cash provides us with a solid foundation to finance our growth and
achieve our targets. We see huge potential especially abroad.' This is not
least confirmed by a major contract from India for the construction of
biogas plants with a rated electrical output of 30 MW, which EnviTec
announced on 28 February 2008. Going forward, the Own Plant Operation
Division will also generate regular and predictable cash flows. The company
expects the situation in the biogas market to remain challenging in the
first half of 2008. Thereafter, once the amendment of the German Renewable
Energy Sources Act has been adopted and a reliable political environment is
in place, the German biogas market will pick up again. In addition, the
federal government adopted an important regulation for the feeding of
biogas into the natural gas grid in March of this year, which will make the
feeding of biogas into the natural gas grid more attractive for biogas
producers.

The amendment of the German EEG is projected for mid-2008. Due to the
fundamental importance of this decision, the company will be able to make
reliable projections for the current fiscal year only thereafter.

The annual report 2007 is available on the company’s website
www.envitec-biogas.com.

About EnviTec Biogas:
EnviTec Biogas AG covers the entire value chain for the production of
biogas - including the planning and turnkey construction of biogas plants
as well as their commissioning. The company provides the biological and
technical service and also offers the full plant and operating management.
In addition, EnviTec also operates its own biogas plants. In Penkun, in the
German state of Mecklenburg-Western Pomerania, EnviTec is currently
constructing what it believes to be the world's largest biogas park with an
electrical connected load of 20 megawatts. Today, EnviTec is represented in
more than 14 countries throughout Europe and as well in China and India. In
2007 EnviTec generated revenues of EUR 132 million and EBIT of EUR 18
million. The EnviTec Group has about 280 employees. Since July 2007 EnviTec
is listed on the Prime Standard segment of the Frankfurt Stock Exchange.

Investor Relations: Joanna Rode, EnviTec Biogas AG, Tel: +49 44 42 80
65-118, E-Mail: ir@envitec-biogas.de

Press Contact: Fabian Lorenz, Grit Pauli, HOSCHKE & CONSORTEN Public
Relations GmbH, Tel: +49 40 36 90 50-56 /-31, E-Mail: f.lorenz@hoschke.de,
g.pauli@hoschke.de

30.04.2008 Financial News transmitted by DGAP

Language: English
Issuer: EnviTec Biogas AG
Industriering 10a
49393 Lohne
Deutschland
Phone: +49 (0) 44 42 - 80 65 0
Fax: +49 (0) 44 42 - 80 65 103
E-mail: info@envitec-biogas.de
Internet: www.envitec-biogas.de
ISIN: DE000A0MVLS8
WKN: A0MVLS
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of News DGAP News-Service

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