Corporate | 30 March 2009 07:59
EnviTec Biogas AG / Preliminary Results
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EnviTec Biogas presents preliminary figures for 2008
- Difficult start to the year followed by strong second half
- Sales of approx. EUR 101 million and EBIT of EUR 3.2 million
- Abroad sales more than tripled
- Target for 2009: Boost sales to EUR 150 to 200 million
Lohne, 30 March 2009 - EnviTec Biogas AG [ISIN: DE000A0MVLS8] managed to
turn around in the second half of 2008, which was a difficult year for the
biogas industry, and confirmed its position as a leading manufacturer of
biogas plants. 'While the first half of the year was marked by uncertainty
about the amendment of the German Renewable Energy Sources Act, the second
half-year was very positive,' said Jörg Fischer, CFO of EnviTec Biogas. 'We
will now improve on this and grow at a clearly double-digit rate in 2009.'
According to preliminary figures, EnviTec Biogas generated sales of roughly
EUR 101 million in 2008 (previous year: EUR 132.4 million). The foreign
development was very pleasant. Abroad sales increased by 262 percent from
EUR 8.2 million to EUR 29.7 million, thus testifying to the success of the
company's internationalisation strategy. In spite of weather-induced and
approval-related delays of several projects in December, sales more than
doubled from EUR 32.1 million at the half-year stage to approx. EUR 68.0
million at the end of the year. EBIT amounted to approx. EUR 3.2 million
(previous year: EUR 18.1 million) and also reflect the successful
turnaround from a negative EUR 1.4 million at the half-year stage to over
EUR 4.5 million in the second half of the year. Due to the delays at the
end of the year, the company nevertheless missed its own targets slightly
(sales of EUR 105 to 115 million; EBIT of EUR 5.0 to 8.0 million). 'In view
of the overall environment, especially towards mid-year, we are satisfied
with our business performance in 2008,' said Jörg Fischer. 'The new
Renewable Energy Sources Act initiated the turnaround. In conjunction with
the declining prices of input materials, the biogas market now offers good
prospects again.'
EnviTec is optimistic about the future. The dynamic growth of the second
half-year should continue in 2009. Despite the difficult macroeconomic
environment, the company expects sales to growth at a clearly double-digit
rate to EUR 150 - 200 million in 2009. The Plant Construction segment alone
had an order backlog of EUR 161 million at the end of 2008, thereof approx.
EUR 54 million from abroad. 'Although project financing has become more
difficult, many countries subsidise forward-looking technologies especially
in times of crisis,' said Olaf von Lehmden, CEO of EnviTec Biogas. 'This is
also the reason why interest in biogas as an environmentally friendly form
of energy production and an alternative to fossil fuels remains high. As
the industry leader, we benefit from this trend.' Besides Germany, EnviTec
sees the greatest potential in Belgium, Italy, the UK, Spain and India. The
company's investments in own plant operations are also beginning to pay
off. 'We have connected own plants with a capacity of 12 megawatts to the
grid and also have a promising project pipeline,' said Jörg Fischer. The
company intends to invest between EUR 40 and 60 million in own plant
operations in 2009 to benefit even more strongly from the stable cash flows
and the attractive margins of biogas production.
The final figures and the Annual Report for 2008 will be published on 29
April 2009.
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 South Korea. In 2008 EnviTec generated revenues of EUR
101 million and EBIT of EUR 3.2 million. The EnviTec Group has about 270
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
30.03.2009 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, Hannover, Hamburg, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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