DGAP-News: EnviTec Biogas presents figures for FY 2009
(firmenpresse) - EnviTec Biogas AG / Final Results
19.04.2010 12:36
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Sales revenues at approx. EUR 120 million and EBIT at EUR -0.5 million
EBIT of Own Plant Operation segment more than tripled
All segments to be expanded significantly
Lohne, 19 April 2010 - EnviTec Biogas AG [ISIN: DE000A0MVLS8] reports sales
revenues of EUR 120 million for the fiscal year 2009, up 19 percent on the
previous year's EUR 101 million. Fourth-quarter sales of the leading biogas
plant manufacturer and operator reached the highest level in the history of
the company at EUR 42.6 million (Q4 2008: EUR 36.6 million). 'Despite this
increase, which was achieved in a difficult macroeconomic environment, we
are not satisfied with our performance,' said CFO Jörg Fischer. 'We are
working hard and successful to ensure that we will exploit sales
opportunities more effectively.' In his opinion, the long approval
processes for the construction of biogas plants are one of the main
obstacles. They have an adverse impact on the sale of plants and the
company'sinvestments in own plants. Increased financing requirements made
by banks in some countries additionally delayed the start of numerous
projects. Nevertheless, the order situation of EnviTec Biogas is good. At
the end of 2009, the company had an order backlog worth EUR 227.7 million
and reported a high level of incoming orders from Germany and abroad.
'Another positive factor is the consistently high gross margin of over 34
percent, which primarily benefits from our own plant operation activities,'
the CFO added.
EnviTec Biogas' EBIT in the fiscal year 2009 amounted to EUR -0.5 million
(2008:EUR +3.2 million). Non-recurrent effects, especially a valuation
allowance in the Plant Construction sector of EUR 1.8 million, had an
adverse impact on the bottom line. While the Plant Construction segment
posted clearly negative EBIT of EUR -6.0 million (2008: EUR +1.9 million),
the Own Plant Construction segment more than tripled its EBIT from EUR 1.9
million in 2008 to EUR 5.8 million. Consolidated net income amounted to EUR
1.3 million (2008: EUR 5.8 million). This is equivalent to earnings per
share of EUR 0.08 (2008: EUR 0.38). The result of the year 2009 was
primarily affected by theexpansion of capacity. The company had expected
much higher business activity, which failed to materialise in the first
half of 2009 due to the difficult market environment. The Executive Board
therefore refined its forecast instruments and stepped up its cost
management activities.
The number of employees increased to 385 in 2009 (2008: 307). Equity
amounted to EUR 175.1 million (2008: EUR 179.8 million). The equity ratio
stands at a healthy 76 percent. In the year under review, the company
invested EUR 19.0 million (2008: EUR 24.8 million), primarily in the
expansion of the Own Plant Operation segment.
EnviTec Biogas intends to expand its existing segments - Plant
Construction, Own Plant Operation and Service - aggressively in 2010 and
plans to make comprehensive investments, especially in Own Plant Operation.
In the coalition agreement of autumn 2009, the federal government has
outlined additional incentives for the biogas industry. The aim is to push
ahead the grid feeding of upgraded biogas. 'This relatively young sector
offers the operators of biogas plants huge potential,' says Kunibert Ruhe,
CTO of EnviTec Biogas. 'We are well positioned to continue to play the
leading role in this sector'. Many European governments support the
operators of biogas plants with new legislation and attractive long-term
compensation to promote the important renewable energies sector. EnviTec
Biogas focuses on the most promising countries that offer good market
conditions. These include Belgium, Italy, France, the UK, the Czech
Republic and Slovakia.
EnviTec Biogas expects sales revenues and earnings to increase in 2010. 'We
are confident about the future,' says Olaf von Lehmden, CEO of EnviTec
Biogas, adding that a reliable forecast is currently impossible to make due
to a number of unpredictable influential factors. This is why the Executive
Board will not issue any guidance before the Annual General Meeting on 24
June. The Annual Report for 2009 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 the 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 18 countries throughout Europe and as well in
India and South Korea. In 2009 EnviTec Biogas generated revenues of EUR 120
million and an EBIT of EUR - 0,5 million. The EnviTec Group currently has
385 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(at)envitec-biogas.de
Press contact:
Britta Cirkel, Christina Siebels
HOSCHKE&CONSORTEN Public Relations GmbH
Tel: +49 40 36 90 50- 56 /-58
E-Mail: b.cirkel(at)hoschke.de; c.siebels(at)hoschke.de
19.04.2010 12:36 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: 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(at)envitec-biogas.de
Internet: www.envitec-biogas.de
ISIN: DE000A0MVLS8
WKN: A0MVLS
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, München, Hamburg, Stuttgart
End of News DGAP News-Service
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Datum: 19.04.2010 - 12:36 Uhr
Sprache: Deutsch
News-ID 19262
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