Ad-hoc | 28 April 2013 19:32
ZhongDe Waste Technology AG / Key word(s): Final Results
28.04.2013 19:32
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Annual results 2012
ZhongDe Waste Technology AG: Challenging circumstances adversely affect
results 2012
* Revenues decreased by 24.0 per cent to 24.8 million Euros
* EBIT amounted to -12.6 million Euros
Frankfurt, 28 April 2013 - 2012 was a very challenging transition period
for ZhongDe Waste Technology AG in regards to the completion of its running
BOT and EPC projects. While revenues decreased to 24.8 million Euros, gross
profit went down by 62.0 per cent to 1.6 million Euros. The company expects
to benefit from the favorable economic environment in China for
eco-friendly waste disposal in the future.
In the fiscal year 2012 revenues of ZhongDe Waste Technology decreased by
24.0 per cent to 24.8 million Euros (2011: 32.4 million Euros). This
decrease was mainly influenced by the fact that the construction progress
of the current EPC (Engineering, Procurement and Construction) projects
Dingzhou and Zhucheng was suspended according to the requirements of the
owners and the fact that the construction progress of BOT (Build, Operate
and Transfer) projects was slower than planned, mainly due to delays in
obtaining required government approvals.
Gross profit amounted to 1.6 million Euros in 2012, which corresponds to a
decrease of 62.0 per cent compared to the previous year (2011: 4.1 million
Euros). Accordingly gross profit margin went down from 12.7 per cent in
2011 to 6.4 per cent in 2012. The main reason for this development was the
adjustment of costs estimated for the construction of EPC and BOT projects.
As a consequence of the aforementioned circumstances, EBIT went down by
62.4 per cent to -12.6 million Euros (2011: -7.7 million Euros).
Furthermore, ZhongDe realised a net loss of 12.2 million Euros (2011: net
loss of 10.7 million Euros).
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Information and Explaination of the Issuer to this News:
About ZhongDe Group
ZhongDe Group designs, invests, constructs, finances and operates
waste-to-energy incineration plants generating electricity from the
disposal of solid municipal and industrial waste. ZhongDe realises either
EPC (Engineering, Procurement and Construction) or BOT (Build, Operate and
Transfer) projects, focusing on large-scale plants with waste disposal
capacities of around 1,000 tons per day. Since 1996, ZhongDe Group has
installed approximately 200 waste incinerators in 13 provinces throughout
China. ZhongDe is one of the leading players in the project development and
operation of waste-to-energy plants in China.
Contact
ZhongDe Waste Technology AG
William Jiuhua Wang
Executive Director and CFO
E-Mail: william.jw@zhongdetech.com
Ying Sun
Investor Relations
Messeturm 25th floor
Friedrich-Ebert-Anlage 49
60308 Frankfurt am Main
T: +49 69 50956 5655
F: +49 69 50956 5520
E-Mail: ying.sun@zhongde-ag.de
Kirchhoff Consult AG
Nicole Schüttforth
Investor Relations Consultant
T: +49 40 60 91 86 64
F: +49 40 60 91 86 60
E-Mail: nicole.schuettforth@kirchhoff.de
28.04.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: ZhongDe Waste Technology AG
Messeturm 25th floor
60308 Frankfurt
Germany
Phone: + 49 69 50956 5655
Fax: + 49 69 50956 5520
E-mail: ying.sun@zhongde-ag.de
Internet: www.zhongde-ag.de
ISIN: DE000ZDWT018
WKN: ZDWT01
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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