Ad-hoc | 13 March 2008 15:54
EnviTec Biogas AG / Final Results/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 figures for 2007
Profitable growth despite difficult market environment
Sales increase by 31 percent to EUR 132 million
EBIT at EUR 18 million
Lohne, March 13, 2008 – EnviTec Biogas AG [ISIN: DE000A0MVLS8, WKN:
A0MVLS], headquartered in Lohne in the German state of Lower Saxony,
continued its profitable growth in the 2007 financial year despite
difficult market conditions, especially in the fourth quarter of the year.
According to preliminary figures, sales in the reporting period increased
by about 31 percent to approximately EUR 132 million (previous year: EUR
100.7 million) and met the expectations (EUR 130 to 140 million). At about
EUR 18 million (previous year: EUR 18.5 million), EBIT for the 2007
financial year failed to meet the company's expectations (EUR 20 to 22
million). The EBIT margin was about 14 percent. Earnings before taxes (EBT)
are expected to increase to about EUR 20 million (previous year: EUR 18.3
million).The company's international business also showed a very positive
development. The order backlog was EUR 122.8 million as of December 31,
2007, almost 30 percent were attributable to countries outside of Germany.
The current political discussions regarding the amendment of the German
Renewable Energy Sources Act (EEG) and the increased prices for renewable
raw materials caused customers to adopt a wait-and-see attitude especially
in the fourth quarter. However, despite increased investment into its
international expansion and the self-operation of plants, and the difficult
market environment in Germany, the company continued its profitable growth.
EnviTec Biogas expects the market conditions to remain challenging in the
first half of 2008. The economic environment and thus the demand for biogas
plants should improve considerably in the second half of the year. This
view is based on the adoption of a regulation for feeding biogas into the
natural gas grid, which is expected to happen by April, and the decision
regarding the amendment of the EEG, which is expected to be made in
mid-2008. Both these factors should have a positive effect on the company's
operating business as early as the second half of 2008.
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Information and Explaination of the Issuer to this News:
EnviTec Biogas has a lean and flexible corporate structure and a very solid
equity base, enabling it to profit disproportionally from an improved
economic environment.
The company further pursued its internationalization strategy in 2007 and
has already been able to reap the first benefits from this strategy:
EnviTec Biogas won its first contract in the United Kingdom, where the
company has been represented through a joint venture since the summer of
2007. A major contract win in India in February 2008 marks a milestone in
the company's internationalization. In India, EnviTec Biogas will construct
biogas facilities with an electricity output of 30 megawatts via its Indian
joint venture.
'The regulation governing the feeding of biogas into the natural gas grid
and the decision regarding the amendment of the EEG will provide important
momentum to the market,' said Olaf von Lehmden, CEO of EnviTec Biogas AG.
In Güstrow, Germany, the company will be building the world's largest plant
for upgrading biogas to natural gas quality. The plant will produce 10,000
cubic meters of biogas per hour, upgrade it to natural gas quality and feed
it into the natural gas grid. Olaf von Lehmden: 'We are convinced that this
large-scale project is just the beginning in this sector.'
Investor Relations: Joanna Rode, EnviTec Biogas AG, Tel: +49 44 42 80
65-118, E-Mail: ir@envitec-biogas.de
Press Contact: Fabian Lorenz, Grit Pauli, HOSCHKE & CONSORTEN Public
Relations GmbH, Tel: +49 40 36 90 50-56 /-31, E-Mail: f.lorenz@hoschke.de;
g.pauli@hoschke.de
13.03.2008 Financial News transmitted by DGAP
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Language: English
Issuer: 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: 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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