Earnings Release • Aug 26, 2010
Earnings Release
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Corporate | 26 August 2010 07:53
EnviTec Biogas: Business picked up clearly in second quarter of 2010
EnviTec Biogas AG / Half Year Results
26.08.2010 07:53
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EnviTec Biogas: Business picked up clearly in second quarter of 2010
Lohne, 26 August 2010 - EnviTec Biogas AG [ISIN: DE000A0MVLS8] benefited
from clearly accelerated business momentum in the second quarter. Europe's
leading manufacturer of biogas plants reports sales of EUR 33.2 million in
the April to June period, up 55.8 percent on the first quarter of 2010. In
the Plant Construction segment alone, sales rose by 71.4 percent to EUR 25
million compared to the first three months. 'Following on from the start of
the year which was marked by the impact of the harsh winter, we are very
satisfied with the sales performance seen in the second quarter,' said Jörg
Fischer, the company's CFO. 'In late June we almost worked at 100 percent
capacity.'
Group revenues for the full half year rose by 27.5 percent from EUR 42.7
million to EUR 54.4 million compared to the prior-year period. The sales
growth is also reflected in earnings, even though the company has not
achieved a positive result yet. Compared to the first three months of 2010,
the company's earnings before interest and taxes (EBIT) improved from EUR
-0.9 million to EUR -0.6 million in the second quarter. At EUR -1.5
million, EBIT for the half year shows a 69.5 percent improvement on the
prior year period (H1 2009: EUR -4.8 million).
Order book at record level
The dynamic business trend is set to continue in the second quarter given
that, at EUR 270.6 million, the order backlog is higher than at any time in
the company's history, providing an excellent basis for further growth.
Orders come from across all customer groups, from farmers to professional
energy producers. Demand for 500 kw electrification plants is particularly
strong. Accordingly, the company is not dependent on individual major
projects. Apart from Germany, demand has been particularly strong in Italy.
The first half of the year saw EnviTec Biogas enter the French market where
the first four orders worth a total of EUR 12.5 million have been secured.
Implementation of these projects has already started.
Outlook: Clear improvement of sales and earnings in the second half of the
year
In view of the favourable business trend in evidence across all segments,
the Executive Board expects the second half of the year to bring a clear
improvement in sales and earnings both compared to the prior year period
and to the first half of the current year. Jörg Fischer said: 'Our declared
goal is to report a positive result for the full year 2010.' In addition,
new orders from domestic and international customers are expected to keep
the company's order books well-filled. In July, EnviTec Biogas was awarded
a contract from Wales. The construction of the biogas plant in Rogerstone,
a district of Newport, is a double debut for EnviTec. The reference project
in the UK not only marks the company's entry into a new market but is also
the first plant to produce biogas solely from food waste. Moreover, the
company anticipates fresh stimulation in the Eastern European markets. Says
Roel Slotman, Board member in charge of international sales at EnviTec
Biogas AG: 'The financial and economic crisis made financing a particular
challenge in Eastern Europe. This situation is currently changing for the
better and we see customers coming back. '
The interim report on the first six months of 2010 is available on the
Internet at www.envitec-biogas.de.
About EnviTec Biogas AG
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 full plant and operating management. In
Güstrow, in the German state of Mecklenburg-Western Pomerania, EnviTec
Biogas built the world's largest plant for the production of biogas to
natural gas standards with a thermal output of 55 megawatts. In addition,
the company also operates its own biogas plants. Today, the company is
represented in more than 15 countries throughout Europe, as well as in
India. EnviTec Biogas generated revenues of EUR 120 million and EBIT of EUR
-0.5 million in 2009. The EnviTec Group currently has 411 employees.
EnviTec has been listed on the Prime Standard segment of the Frankfurt
Stock Exchange since July 2007.
Investor Relations:
Olaf Brandes
EnviTec Biogas AG
Tel: +49 44 42 80 65 -118
E-Mail: [email protected]
Press contact:
Thomas Bolte
EnviTec Biogas AG
Tel: +49 25 74 88 88 -198
E-Mail: [email protected]
26.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: 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: [email protected]
Internet: www.envitec-biogas.de
ISIN: DE000A0MVLS8
WKN: A0MVLS
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Hannover, Stuttgart
End of News DGAP News-Service
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