Corporate | 25 August 2011 08:00
EnviTec Biogas AG / Key word(s): Half Year Results
25.08.2011 / 08:00
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EnviTec Biogas reports strong growth also for Q2
- Sales revenues up 74% in Q2
- EBIT climb from EUR -0,6 million to EUR 1.6 million in Q2
- Operating cash flow at EUR 8.4 million in Q2
- Order backlog of EUR 308 million at end of June
Lohne, 25 August 2011 - Following a good start to the year 2011, the
operating activities of EnviTec Biogas [ISIN: DE000A0MVLS8] showed an even
more dynamic trend in the second quarter. Due to strong domestic and
international demand for biogas plants, the company generated sales
revenues of EUR 57.9 million between April and June, which represents an
increase of 58% on the first three months and of 74% on the same period of
the previous year. Specialising in the construction and operation of biogas
plants, EnviTec improved its earnings before interest and taxes (EBIT) from
EUR -0.6 million in the previous year to EUR 1.6 million in the second
quarter of 2011. Operating cash flow also improved significantly in the
first half of the year and reached EUR 8.4 million, up from a negative EUR
-4.9 million in the same period of the previous year.
Sales revenues for the first six months totalled EUR 94.5 million, up 74%
on the previous year's EUR 54.4 million. At EUR 65.9 million, Germany
continues to make the biggest contribution to sales. International sales
climbed 53% from EUR 18.7 million to EUR 28.6 million in the first half of
2011.
The dynamic business trend also led to improved earnings in the first six
months of the year. EBIT rose from EUR -1.5 million to EUR 2.1 million.
EnviTec Biogas generated a half-year profit of EUR 1.7 million, compared to
a loss of EUR 1.1 million in the previous year. 'Having completed scheduled
multi-year maintenance work on our biogas plants in the past months, we
will grow strongly in the second half of the year, especially where
earnings are concerned,' said CFO Jörg Fischer.
EnviTec Biogas expects business to be strong in the second half of the
year. The Group's EBIT margin, which was adversely affected by maintenance
work on its own plants, is expected to improve in the second half of the
year. The Executive Board has therefore confirmed its objective to increase
both sales and earnings significantly on the previous year. EnviTec Biogas
had an order backlog of EUR 308 million at the half-year stage. Between
January and June alone, the company received new orders for the
construction of biogas plants worth EUR 132 million. International
customers placed orders worth EUR 121.7 million, which represented roughly
40% of the total order backlog. Italy, France and the UK are important
foreign markets.
EnviTec Biogas is well positioned also beyond 2011. The company should
continue to grow outside Germany. The Italian, French and UK markets have
especially high potential. While 2011 is a record year for the German
biogas sector, the market will initially reorganise itself in the first
half of 2012 and demand will decline, as the market adapts to the new legal
framework created by the German Renewable Energy Sources Act. Demand should
pick up again already in the second half of the year. EnviTec sees two key
segments in the German biogas market of the future, i.e. gas upgrading
plants for the production of biomethane as a natural gas substitute and
on-site electricity generating facilities of 500 kW and more with
sustainable heat concepts.
The strong international business and significant residual work on plants
taken into service in Germany in 2011 will help the company manage the
phase of transition. In this context, the construction of biomethane plants
for the Own Plant Operation segment in Germany and the Own Plant Operation
segment in Italy will play an important role. EnviTec plans to more than
double the production capacity of its own biogas plants from the present
level of approx. 24.5 MW to over 50 MW by early 2013.
The interim report on the first six months of 2011 is available on the
Internet at www.envitec-biogas.de.
About EnviTec Biogas AG
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 full plant and operating management. In
Güstrow, in the German state of Mecklenburg- Western Pomerania, EnviTec
Biogas built the world's largest plant for the production of biogas to
natural gas standards with a thermal output of 55 megawatts. In addition,
the company also operates its own biogas plants. Today, the company is
represented in more than 15 countries throughout Europe, as well as in
India. EnviTec Biogas generated revenues of EUR 148 million and EBIT of EUR
1.0 million in 2010. The EnviTec Group currently has 435 employees. EnviTec
has been listed on the Prime Standard segment of the Frankfurt Stock
Exchange since July 2007.
Press contact:
Thomas Bolte
EnviTec Biogas AG
Tel: +49 25 74 88 88 -198
E-Mail: t.bolte@envitec-biogas.de
Investor Relations:
Olaf Brandes
EnviTec Biogas AG
Tel: +49 44 42 80 65 -118
E-Mail: ir@envitec-biogas.de
End of Corporate News
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Language: English
Company: EnviTec Biogas AG
Industriering 10a
49393 Lohne
Germany
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, Hannover,
München, Stuttgart
End of News DGAP News-Service
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