DGAP-News: EnviTec Biogas reports record sales for 2011
(firmenpresse) - DGAP-News: EnviTec Biogas AG / Key word(s): Final Results/Dividend
EnviTec Biogas reports record sales for 2011
26.04.2012 / 12:12
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EnviTec Biogas reports record sales for 2011
- Sales rise from EUR 148.0 million to EUR 243.9 million
- EBIT climb from EUR 1.0 million to EUR 10.8 million
- Production capacity in Own Plant Operation segment doubled to 42 MW
- Outlook on 2012: Clearly profitable although sales will decline
Lohne, 26 April 2012 - 2011 was an exceptional year for the German biogas
industry and, hence, for EnviTec Biogas AG [ISIN: DE000A0MVLS8]. Last year,
some 1,100 new biogas plants with an electrical output of approx. 440
megawatts (MW) went on line in Germany. Some 17 percent of these plants
were built by EnviTec Biogas, which has thus increased its market share. A
total of 7,000 biogas plants meanwhile produce approx. 17.5 billion kWh of
climate-friendly energy in Germany. As biogas is suitable for baseload
generation, this means that the German biogas industry substitutes more
than two nuclear power plants.
Consolidated sales revenues of the company, which specialises in the
construction and operation of biogas plants, reached a new record level in
2011. Sales increased from EUR 148.0 million to EUR 243.9 million, which
represents an increase of 64.8 percent. All business segments contributed
to this dynamic growth. Plant construction activities in Germany were the
main growth driver. Biogas plants planned on the basis of the old German
Renewable Energy Sources Act (EEG) had to go on line before the end of
2011. Accordingly, domestic sales increased by 78.9 percent on the previous
year's EUR 101.1 million to EUR 180.8 million and made the biggest
contribution to total Group sales. International sales also showed a
positive trend and picked up by 34.3 percent to EUR 63.1 million (previous
year: EUR 47.0 million).
The strong sales growth also had a positive impact on the bottom line.
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
surged by 144.0 percent from EUR 8.3 million to EUR 20.3 million. Having
reached positive territory in the previous year, earnings before interest
and taxes (EBIT) continued their positive trend and reached EUR 10.8
million (previous year: EUR 1.0 million). In this context, it should be
noted that the Own Plant Operation segment did not reach its full earning
power due to multi-year maintenance work and the large number of plants
under construction. Consolidated net income for the year also picked up
markedly in the financial year, climbing from EUR 2.3 million to EUR 7.6
million. Accordingly, earnings per share rose from EUR 0.15 to EUR 0.51.
The financial position of EnviTec remains sound. The company's equity
capital amounted to EUR 183.9 million at the end of 2011, when the equity
ratio reached 59.5 percent.
Production capacity in Own Plant Operation segment doubled to 42 MW
'We decided not to distribute a dividend but to invest in the very
profitable Own Plant Operation segment, which is characterised by good
planning certainty,' said Jörg Fischer, CFO of EnviTec Biogas AG. In 2011,
this segment finally became an important sales and earnings driver for
EnviTec in addition to the Plant Construction segment. In the past year
alone, EnviTec invested some EUR 37 million in the construction of own
plants. The success of these investments is reflected in the fact that
biogas plants with an electrical output of 20,5 megawatts (MW) went on line
in 2011. This means that the company exceeded its new capacity target of 12
MW by far. As of the turn of the year, EnviTec had a total capacity of
approx. 42 MW. While the 29.0 percent increase in sales revenues to EUR
28.6 million in 2011 was gratifying, it should be noted that many plants
went on line in autumn and winter and therefore generated no - or only
insignificant - sales revenues. Growth in this segment will therefore
continue at a fast pace in 2012.
Still potential for the German biogas market
Overall, 2012 will be a year of transition for EnviTec. This is due to the
amended German Renewable Energy Sources Act, which came into force at the
beginning of 2012. While the legal framework remains very attractive and we
continue to see opportunities, the new directives are much more complex. In
particular, the production of electricity in biogas plants in accordance
with actual requirements and the direct marketing of the electricity
generated will gain importance. Market participants still have to develop
the business models for this and establish them in the market. Says Jörg
Fischer: 'As a leading player in the German market, we want to exploit the
new opportunities of energy marketing. We have set the course for this by
launching our new Energy segment in 2011.' EnviTec Energy GmbH&Co. KG
offers specific contracting models for heat customers. Under these models,
EnviTec plans the local generation of heat from internally produced
biomethane in efficient CHP plants, which is sold at favourable prices
under long-term supply contracts. This allows industrial, commercial and
municipal customers to improve their carbon footprint through the use of
green heat. The new subsidiary, EnviTec Stromkontor GmbH&Co KG., also
operates under the umbrella of EnviTec Energy. This subsidiary will combine
the capacity of a large number of biogas plants into a virtual power plant,
market this 'EEG electricity' in accordance with actual requirements and
offer balancing energy to the transmission network operators. The energy
will be marketed in cooperation with a strong partner, EGL Deutschland
GmbH, a subsidiary of Swiss electricity company EGL AG. Alfred Gayer was
appointed Managing Director of this promising business segment with effect
from 1 February 2012. He previously held various managing positions at
multi-utility RWE, most recently as Commercial Managing Director of RWE
Energiedienstleistungen GmbH, and has long-standing experience in energy
contracting and district heat as well as great marketing expertise.
Outlook on 2012: Clearly profitable although sales revenues will decline
Following the exceptional year 2011, the transformation of the German
market will lead to a decline in domestic revenues of EnviTec's Plant
Construction segment. Incoming orders should pick up again in the second
half of the year and lead to new momentum in 2013. The company expects to
partly offset the decline in domestic revenues by growth abroad. Revenues
in the Own Plant Operation and Service segments should also increase
markedly. EvniTec Biogas therefore expects a clearly positive result again
for 2012. In 2013, Group sales revenues should pick up again compared to
2012. For this to happen it is important that the German market adapts to
the new framework and that the legal framework in foreign markets remains
stable.
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
addition, EnviTec also operates its own biogas plants. In 2011 EnviTec
Biogas expanded business operations into the direct marketing of processed
biomethane and green electricity and balancing energy marketing with
EnviTec Energy Contracting GmbH&Co. KG and its 100% subsidiary EnviTec
Stromkontor GmbH&Co. KG. Today, the company is represented in more than
15 countries throughout Europe, as well as in India. EnviTec Biogas
generated revenues of EUR 243,9 million and EBIT of EUR 10.8 million in
2011. The EnviTec Group currently has 459 employees. EnviTec has been
listed on the Prime Standard segment of the Frankfurt Stock Exchange since
July 2007.
Press contact:
Thomas Bolte
Tel: +49 25 74 88 88 -198
Email: t.bolte(at)envitec-biogas.de
Investor Relations:
Olaf Brandes
EnviTec Biogas AG
Tel: +49 44 42 8016 - 8130
E-Mail: ir(at)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(at)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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