Ad-hoc | 12 November 2007 19:10
EnviTec Biogas AG / Preliminary Results
Release 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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EnviTec Biogas publishes preliminary numbers and adjusts full-year guidance
for 2007
Lohne, November 12, 2007 – EnviTec Biogas AG [ISIN: DE000A0MVLS8, WKN:
A0MVLS], headquartered in Lohne in the German state of Lower Saxony,
publishes preliminary figures for the first nine months of 2007. The
company increased its sales by 69% to EUR 102.4 million, compared to EUR
60.6 million for the first nine months of 2006. EBIT grew from EUR 10.4
million to EUR 16 million, which corresponds to an increase of 54%.
EBIT-margin in the first nine months 2007 was 16 percent.
As a consequence of the continuing political debate about the legislative
framework in Germany ('EEG') and other European countries, customers in the
biogas market have become increasingly cautious. For instance, the expected
– more attractive – framework in Italy for next year has led to sales
budgeted for 2007 amounting to approximately EUR 10 million being postponed
into 2008. Moreover, operators of smaller biogas plants in Germany (up to
500 kilowatt) have been reluctant because of currently higher feed-in costs
that could not be compensated by the bonus for renewable primary products.
Additionally, the early onset of winter in Eastern Europe has delayed
construction of already contracted biogas plants in Eastern Europe, e.g. in
the Czech Republic. Together, these factors led to a decision to lower
Envitec’s full-year 2007 guidance. For the full year, the company now
expects sales of EUR 130 million to 140 million and an EBIT of EUR 20
million to 22 million.
EnviTec trusts that the new EEG legislation will create a reliable
political framework, which provides a reasonable operating basis for
existing plants, and which will continue to enable market participants to
realise the potential of biogas technology, as well as providing planning
security. Growing demand, in particular in European countries where EnviTec
already has a strong footprint, has led to an encouraging order backlog
amounting to EUR 135 million.
Accordingly, EnviTec expects sales and EBIT growth in line with the
increase in 2007. The cautious optimism is predicated upon the solid order
intake of EUR 135 million already registered. On the assumption that the
regulatory framework ('EEG') continues to provide stable conditions,
EnviTec is optimistic about its business model.
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Information and Explaination of the Issuer to this News:
The final figures and the complete 2007 nine-month-report will be published
on November 29, 2007 at www.envitec-biogas.de.
Investor Relations: Joanna Rode, EnviTec Biogas AG, Tel: +49 44 42 80
65-118, E-Mail: ir@envitec-biogas.de
Press contact: Grit Pauli, HOSCHKE & CONSORTEN Public Relations GmbH, Tel:
+49 40 36 90 50-31, E-Mail: g.pauli@hoschke.de
12.11.2007 Financial News transmitted by DGAP
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Language: English
Issuer: EnviTec Biogas AG
Industriering 10a
49393 Lohne
Deutschland
Phone: +49 (0) 25 74 / 88 88 - 0
Fax: +49 (0) 25 74 / 88 88 - 800
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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