Earnings Release • May 27, 2010
Earnings Release
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Corporate | 27 May 2010 07:45
EnviTec Biogas raises revenue and earnings
EnviTec Biogas AG / Quarter Results/Quarter Results
27.05.2010 07:45
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
Lohne, May 27, 2010 - EnviTec Biogas AG [ISIN: DE000A0MVLS8] continued last
year's growth path in the first quarter of 2010: in spite of the severe
winter, and the resultant obstacles to the plant building business, the
company grew first-quarter revenue by 11 percent year-on-year to EUR 21.3
million (previous year: EUR 19.2 million). Earnings before interest and
taxes (EBIT) improved to minus EUR 0.9 million (Q1 2009: EUR -2.6 million).
The company also aims to increase revenue and EBIT over the coming
quarters: 'We have implemented various measures geared to tapping new
markets and boosting our profitability,' commented Jörg Fischer, the
company's CFO. 'We are also permanently strengthening our competitiveness
through the new and further development of innovative technologies. We have
positioned ourselves for further growth.' EnviTec Biogas is one of Europe's
leading biogas plant manufacturers, and is significantly ahead of its
competitors in terms of revenue, product range and innovative strength.
Own Plant Operation increasingly contributes to revenue and earnings
The Own Plant Operation segment, in which EnviTec Biogas generates
electricity, heating and gas in biogas plants both in Germany and abroad,
reported particularly positive progress in the first quarter of 2010. In
this area, segment revenue was up by 28.2 percent to EUR 5.0 million (Q1
2009: EUR 3.9 million). After 2009 EBIT had already more than tripled
compared with 2008, the figure amounted to EUR 1.4 million in the first
quarter alone (Q1 2009: EUR 0.6 million). Contributing its regular cash
flow, the area supplements the other two company segments of Plant
Construction and Service in an ideal manner. EnviTec Biogas currently
operates 20 of its own biogas plants, and is continuing to significantly
expand this base in the course of the current year. 'We are benefiting from
our high liquidity, which enables us to finance the construction of our own
plants from our own resources,' noted Jörg Fischer. 'With the operation of
these highly profitable plants, we are less dependent on income from the
construction of plants for customers in Germany and abroad.' In the
meantime, progress is also being achieved with regard to the approval
procedures for the biogas plants. In a number of countries, including
Italy, for example, these procedures are now progressing more rapidly and
efficiently than just two years ago. Other European governments are also
providing statutory support for the construction of biogas plants. CCO Roel
Slotman commented as follows on this topic: 'Our sector enjoys very good
prospects in Germany, as well as in countries such as Italy, France, the
Czech Republic, India and Belgium.'
Positive order trend, particularly in Italy and France
A gratifying trend in new orders was registered in the first quarter of
2010 with an inflow of EUR 67.9 million to total EUR 235.8 million (March
31, 2009: EUR 167.5 million). Of these orders, EUR 86.9 million were
received from abroad (2008: EUR 57.9 million). Business developments in
Italy and France were particularly lively. EnviTec Biogas launched four
projects in Italy, one of the most important markets. Work is already
underway on seven further plants. The order book in Italy amounted to more
than EUR 40 million on March 31, more than four times as high as at March
31, 2009. France is also developing into a market promising great success:
here, EnviTec Biogas received new orders of EUR 6.4 million in the first
quarter alone.
High second-quarter capacity utilization
The second quarter of 2010 has started well for EnviTec Biogas. Capacities
are very well utilized. 'We anticipate that this trend will continue,'
commented Jörg Fischer. And the potential remains high. The feeding of
prepared biogas into the natural gas network, for example, offers
significant earnings opportunities for the company. With its autumn
coalition agreement, the federal government created the preconditions for
pushing ahead with biogas supply. EnviTec Biogas has positioned itself to
generate significant earnings in the future on this market. Jörg Fischer:
'We will also pursue cooperation ventures with partners to a greater
extent, both in Germany and abroad, in order to expand the highly
profitable operation of our own biogas plants.' In May, for instance, the
company forged a cooperation agreement with the company BKN biostrom AG.
Initially, the two companies intend to jointly develop, construct and
operate biogas plants with a total output of more than 15 megawatts. The
company aims to lay the foundation stone for the first of these plants as
early as this year.
The report for the first quarter 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. 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. In 2009,
EnviTec Biogas generated revenue of EUR 120 million and EBIT of EUR -0.5
million. The EnviTec Group currently has 391 employees. EnviTec Biogas has
been listed in 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:
Britta Cirkel, Christina Siebels
HOSCHKE & CONSORTEN Public Relations GmbH
Tel: +49 40 36 90 50- 56 /-58
E-mail: [email protected]; [email protected]
27.05.2010 Ad hoc announcement, Financial News and Media 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 Berlin, Hannover, Düsseldorf, München, Hamburg, Stuttgart
End of News DGAP News-Service
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