Corporate | 27 November 2008 08:01
EnviTec Biogas AG / Quarter Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
----------------------------------------------------------------------
EnviTec Biogas confirms full-year forecast at nine-month stage:
Turnaround achieved in third quarter
Lohne, 27 November 2008 – EnviTec Biogas AG [ISIN: DE000A0MVLS8,
WKN: A0MVLS] achieved the turnaround in the third quarter. 'The amendment
of Germany’s Renewable Energies Act jumpstarted the market and our revenues
between July and September matched those in the first six months of the
year,' said Jörg Fischer, CFO of EnviTec Biogas. This positive trend is
expected to continue in the fourth quarter, considering that orders worth
EUR 188 million, including 30 percent from abroad, were on hand at the end
of September.
Having rebounded from a challenging first half of the year, EnviTec Biogas
reports third-quarter sales of EUR 32.4 million, which brings nine-month
sales to EUR 64.5 million (previous year: EUR 102.2 million). The
turnaround is also reflected in the company’s profitability. While EBIT for
the first six months stood at EUR -1.4 million, operating profit for the
third quarter came in at EUR 2.2 million, resulting in EUR 0.8 million
(previous year: EUR 15.8 million) in EBIT at the nine-month stage. The
Q1-Q3 financial result of EUR 3.4 million reflects the company solid
financial position. The net result for the first three quarters is reported
at EUR 3.0 million (previous year: EUR 11.1 million) or EUR 0.20 per share.
EnviTec Biogas looks to the future with optimism. Prospects for the biogas
sector remain positive on the whole despite the financial market crisis and
the general insecurity about the worldwide economy. Apart from Germany,
numerous countries have launched or expanded their schemes to promote the
use of renewable energies, thereby opening up a number of attractive
markets for EnviTec Biogas. In addition to the German market, the company
is meanwhile active almost on a Europe-wide basis and even in India and
USA. A pick-up in momentum is currently observed in the Italian market
where two plants rated for an electrical power capacity of 250 and 525
kilowatts are under construction, with more projects being at the planning
stage in this interesting market.
In addition to the positive change in the legal environment, the prices for
input materials have exhibited a very gratifying trend as well. While maize
silage commanded prices of up to EUR 32 per ton in some locations, market
prices have since settled at approx. EUR 22 per ton. This makes biogas
production even more attractive for farmers, financial investors and energy
providers.
The trend of input prices, the gratifying course of business in the third
quarter and the high order backlog worth EUR 188 million, strengthen the
confidence EnviTec Biogas to attain its forecast for the full year 2008. In
the final quarter of the year, the company expects to improve on the
already good third quarter and to report another increase in sales revenues
and profits, in particular. The Executive Board consequently expects full
2008 sales to come in at between EUR 105 million and 115 million, with
operating profit (EBIT) amounting to between EUR 5 million and 8 million.
The positive sales and profit trend should continue also in the year 2009.
At this time the company does not anticipate its business trend to be
significantly impacted by the crisis in the financial markets.
The report on the third quarter 2008 can be downloaded at
www.envitec-biogas.de.
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 the full plant and operating management.
In Güstrow, in the German state of Mecklenburg-Western Pomerania, EnviTec
builds the world’s largest plant for the production of biogas to natural
gas standards with an electrical connected load of 22 megawatts. In
addition, the company also operates its own biogas plants. Today, the
company is represented in more than 15 countries throughout Europe and as
well in China and India. In 2007 EnviTec generated revenues of EUR 132
million and EBIT of EUR 18 million. The EnviTec Group has about 280
employees. Since July 2007 EnviTec is listed on the Prime Standard segment
of the Frankfurt Stock Exchange.
Investor Relations:
Olaf Brandes
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
27.11.2008 Financial News transmitted by DGAP
----------------------------------------------------------------------
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, Hannover, Hamburg, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------