Greenvironment publishes annual results for 2010 and forecast figures for 2011 and 2012
(firmenpresse) - - 2011 forecast figures: Turnover of more than 20 million Euro and breakeven net profit
- 2012 forecast figures: Turnover of 50 million Euro with 4.5 million Euro net profit
- Preparation of securities prospectus mandated
Berlin, 10th June 2011 - Greenvironment Plc (WKN: A0YEKX / symbol: GIV), a leading technology specialist in the use of innovative microturbine technology for the production of electricity and heat from biogas and natural gas, reported a total turnover of 2.83 million Euro in the past fiscal year 2010 (as of 28.2.2011). The net loss amounted to 2.75 million Euro or 0.05 Euro per share. This includes unplanned one-time costs in excess of 0.2 million Euro.
The merger of the operational holding company Greenvironment Oy into the listed shell company Greenvironment Plc took place in July 2010. The consolidation of the Finnish and German subsidiaries was effected on 1st August 2010. Therefore only seven months of operations are included in the financial statements of Greenvironment Plc. These financial statements are reported under German HGB. Company gave earlier it’s first estimations of the revenues according to IFRS that included also the revenues from projects according the installation phase.
The recent decisions by the German government to shut down older nuclear power plants immediately and to quit nuclear power production completely in the medium term strongly emphasizes the need for power generation to be renewed and for the development of alternative power generation solutions (distributed and/or renewable energy production). The focus will be on intelligent solutions like microturbine power plants which are simultaneously able to deliver energy in small-scale on-site units and to secure network stability and flexibility.
The sales pipeline of Greenvironment currently has a volume of 30 million Euro. The share of natural gas projects in the pipeline has risen from 20 percent to 50 percent in the last two years. This will help to make the business less seasonal as unlike biogas plants, which are most often commissioned in summertime or autumn, natural gas plants can be commissioned throughout the year. In addition, Greenvironment has received increased interest in larger projects with the average volume per order having risen to between 0.7 and 0.9 million Euro.
Ahead of the planned move to the Entry Standard segment of the Frankfurt Stock Exchange Greenvironment Plc has also mandated the preparation of a securities prospectus to offer potential investors the greatest possible transparency.
Matti Malkamäki, CEO of Greenvironment Plc, said: "Negotiations with strong cooperation partners in the energy sector are developing according to our plans in our target areas. We expect to report some concrete results of these negotiations in the coming weeks. Because of very positive market developments and increasing average order volume, we are predicting to increase our turnover to more than 20 million Euro and to achieve break-even in the current fiscal year 2011, and to further increase our turnover to around 50 million Euro with a net profit of 4.5 million Euro in the next fiscal year 2012.”
The income statement and the balance sheet of Greenvironment Plc are available on the investor relations section of the company’s website. The full balance book of Greenvironment Plc including auditor’s statement will be made available later in June on the investor relations section of the company’s website together with the invitation to the annual meeting.
About Greenvironment
Greenvironment is a European company active in the decentralized energy generation market which plans, builds and operates cogeneration heat and power plants (CHP). The company offers CHP plants in a power range of 30 kWel to 1 MWel and is a market leader in the use of innovative microturbine technology in electricity generation from biogas and natural gas.
Microturbines benefit from high availability, low maintenance requirements, low emissions, favourable EEG and KWKG bonus compensation and flexible heat utilization. All Greenvironment CHP plants are operated by a highly efficient centralized process management system at the operations centre in Berlin. See also: www.greenvironment.com.
For further information:
Matti Malkamäki
CEO Greenvironment Plc
Tel.:+49 (0)30 311 6712 30
Fax:+49 (0)30 311 6712 59
E-Mail: IR(at)greenvironment.com
LEGAL DISCLAIMER
This publication serves information purposes only and constitutes neither an offer to sell nor a solicitation to buy any securities of Greenvironment Plc. This press release contains forward-looking statements based on the beliefs of Greenvironment management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of Greenvironment as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. Greenvironment disclaims any intention or obligation to update these forward-looking statements.
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Datum: 10.06.2011 - 12:29 Uhr
Sprache: Deutsch
News-ID 30508
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