DGAP-News: EnviTec Biogas had a good start to 2012, which will be a year of transition
(firmenpresse) - DGAP-News: EnviTec Biogas AG / Key word(s): Quarter Results
EnviTec Biogas had a good start to 2012, which will be a year of
transition
30.05.2012 / 12:00
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EnviTec Biogas had a good start to 2012, which will be a year of transition
- Sales revenues +7.9% to EUR 39.5 million
- EBIT at EUR -1.7 million due to one-time effects; EUR -0.5 million
adjusted
- Strong performance of Own Plant Operation
- Outlook on 2012: Forecast confirmed
Lohne, 30 May 2012 - As expected, the German biogas sector is in a phase of
transformation following the exceptional year 2011. This is due to the
amendments to the German Renewable Energy Sources Act (EEG), which became
effective at the beginning of 2012. The legal framework remains attractive
and EnviTec Biogas [ISIN: DE000A0MVLS8] sees opportunities for the German
biogas market; however, the new regulations are much more complex than the
2011 EEG. The German biogas market will therefore change in 2012. In
particular, the generation of electricity from biogas in line with actual
requirements and the direct marketing of the electricity generated will
gain importance. The respective business models still need to be accepted
by the market.
First-quarter sales revenues of EnviTec Biogas were in line with
expectations in the first quarter of 2012. The company generated revenues
of EUR 39.5 million in the first three months of the year. This represents
an increase of 7.9 percent compared to the same period of the previous
year. Due to a one-time effect, EnviTec Biogas reported an operating loss
for the first three months of the year, as the company and one of its
customers reached an agreement to settle a major legal dispute. The
earnings situation should improve markedly as the year progresses. EnviTec
Biogas generated earnings before interest and taxes of EUR -1.7 million in
the first quarter. Adjusted for one-time effects, EBIT stood at EUR -0.5
million and hence EUR 1.0 million below the prior year quarter's EUR 0.5
million. The net worth and financial position of EnviTec Biogas remains
sound and will enable the company to implement its operational and
strategic objectives, i.e. the expansion of the Own Plant Operation
segment, research into new technologies and the start-up of new business
segments. As of the balance sheet date on 31 March 2012, the equity capital
of EnviTec Biogas amounted to EUR 183.1 million (2011: EUR 183.9 million).
At 60.2 percent, the equity ratio stayed at a very high level.
The Own Plant Operation segment showed a very positive performance in the
first quarter, with sales revenues climbing 65.6 percent from EUR 5.9
million to EUR 9.8 million. The segment's EBIT doubled from EUR 0.8 million
to EUR 1.6 million. Says Chief Financial Officer Jörg Fischer: 'We are
increasingly reaping the fruits of the investments made in the past years.'
As of the end of March, EnviTec operated plants with an electrical output
of 42.1 MW, which means that the company almost doubled the capacity
compared to the prior year quarter. Plants with an electrical output of 15
MW were at the planning stage or had already obtained approval in Germany
and Italy as of the end of the quarter. The company thus confirms its
year-end target of approx. 52 MW.
Outlook on 2012: Forecast confirmed
Following the exceptional year 2011, 2012 will bea year of transition as
had been expected. In view of the performance in the first quarter, EnviTec
has confirmed its forecast for the full year: a clearly positive result on
lower Group revenues. The decline in domestic sales revenues will partly be
offset by growth abroad. Sales revenues should also pick up markedly in the
Own Plant Operation and Service segments. For the forecast to materialise,
it is important that the German market adapts to the new framework and that
the legal framework in foreign markets remains stable. As the situation in
Germany is still uncertain, EnviTec will put its sales and earnings
forecast into more concrete terms only as the year progresses.
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 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 244 million and EBIT of EUR 10.5 million in 2011. The EnviTec Group
currently has 470 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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30.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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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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