Corporate | 28 May 2015 16:11
DGAP-News: ZhongDe Waste Technology AG / Key word(s): Quarter Results
2015-05-28 / 16:11
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Q1 2015 results
ZhongDe Waste Technology AG: Strong revenue increase reflects continuous
project progress
* Revenue increased significantly from 1.1 million Euros to 5.6 million
Euros
* EBIT went up by 0.4 million Euros to -1.0 million Euros
* Outlook for 2015 confirmed
Frankfurt, 28 May 2015 - In the first quarter of 2015, ZhongDe Waste
Technology AG ("ZhongDe") continued to push forward the progress of its BOT
and EPC projects, which is reflected in the improved financial results of
the first three months.
Total group revenues amounted to 5.6 million Euros and are therewith over
five times higher than in the first quarter of 2014 (Q1 2014: 1.1 million
Euros). While the BOT projects contributed the largest part with revenues
of 4.9 million Euros (Q1 2014: 0.6 million Euros), the EPC projects
contributed 0.7 million Euros (Q1 2014: 0.5 million Euros).
Gross profit amounted to -0.1 million Euros (Q1 2014: 0.0 million Euros).
This decrease in gross profit is due to the fact, that the major part of
revenues was related to BOT projects, which are accounted for under the
zero-profit method. Thus, the progress of the construction of BOT projects
is not reflected in the gross profit. EBITDA improved to -0.6 million Euro
compared to -1.1 million Euro in Q1 2014. EBIT went up from -1.4 million
Euros in Q1 2014 to -1.0 million Euros in Q1 2015. EBIT margin amounted to
-17 per cent, representing an enormous increase compared to the previous
year's result (Q1 2014: -128 per cent). The main reason for the significant
growth in EBIT and EBIT margin were the higher net proceeds from trial runs
resulting in an increased other operating income of 0.7 million Euros (Q1
2014: 0.2 million Euros). Also net loss improved by 0.1 million Euros to
-2.2 million Euros (Q1 2014: -2.3 million Euros), resulting in a net profit
margin of -39 per cent (Q1 2014: -211 per cent).
Increased order backlog and cash position due to foreign exchange gains
Due to material foreign currency translation differences ZhongDe's total
order backlog increased by 7 per cent to 234.2 million Euros from 219.1
million Euros at the end of Q1 2014 or by 10 per cent compared to 212.5
million Euros as at 31 December 2014.
As at 31 March 2015, the cash position of the company amounted to 90.5
million Euros (as at 31 December 2014: 87.2 million Euros). The increase of
the cash position was due to the material appreciation of the functional
currency RMB versus EUR. In RMB, there was a regular cash outflow of
operations and repayments of loans in the first quarter of 2015. The
management of ZhongDe intends to secure the strong cash position of the
company by obtaining additional loans and by selling BOT projects.
Unchanged outlook for the full-year 2015
ZhongDe confirms its outlook for the full-year 2015 given in the Annual
Report 2014. In summary, the management expects that the coming quarters
2015 will still remain a transition period. Nevertheless, revenues and
other results are expected to increase compared to the corresponding
quarters in 2014. Regarding the future development of the company the
management board is evaluating all strategic opportunities on a regular
basis and will do its best to improve ZhongDe's profitability and to
balance the cash position of the Group.
Please find the complete Q1 report 2015 of ZhongDe Waste Technology AG on
the company's website under the following link:
http://www.zhongde-ag.com/investor_relations/publikationen.html
About ZhongDe Group
ZhongDe Group designs, invests, constructs, finances and operates
energy-from-waste plants generating electricity from the incineration of
solid municipal and industrial waste. ZhongDe realizes 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 energy-from-waste 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
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2015-05-28 Dissemination of a Corporate News, transmitted by DGAP - a
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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: william.jw@163.com,ying.sun@zhongde-ag.de
Internet: www.zhongde-ag.de
ISIN: DE000ZDWT018
WKN: ZDWT01
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News-Service
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