EnviTec Biogas raises revenue and earnings

- First-quarter revenue up by 11 percent year-on-year - Own Plant Operation segment plays increasingly important role - Strong first-quarter new order inflow - Order book position climbs 41 percent to EUR 235.8 million

Lohne, May 27, 2010 – EnviTec Biogas AG [ISIN: DE000A0MVLS8] continued last year's growth path in the first quarter of 2010: in spite of the severe winter, and the resultant obstacles to the plant building business, the company grew first-quarter revenue by 11 percent year-on-year to EUR 21.3 million (previous year: EUR 19.2 million). Operating earnings before tax and depreciation (EBIT) improved to minus EUR 0.9 million (Q1 2009: EUR -2.6 million). The company also aims to increase revenue and EBIT over the coming quarters: "We have implemented various measures geared to tapping new markets and boosting our profitability," commented Jörg Fischer, the company's CFO. "We are also permanently strengthening our competitiveness through the new and further development of innovative technologies. We have positioned ourselves for further growth." EnviTec Biogas is one of Europe's leading biogas plant manufacturers, and is significantly ahead of its competitors in terms of revenue, product range and innovative strength.

Own Plant Operation increasingly contributes to revenue and earnings

The Own Plant Operation segment, in which EnviTec Biogas generates electricity, heating and gas in biogas plants both in Germany and abroad, reported particularly positive progress in the first quarter of 2010. In this area, segment revenue was up by 28.2 percent to EUR 5.0 million (Q1 2009: EUR 3.9 million). After 2009 EBIT had already more than tripled compared with 2008, the figure amounted to EUR 1.4 million in the first quarter alone (Q1 2009: EUR 0.6 million). Contributing its regular cash flow, the area supplements the other two company segments of Plant Construction and Service in an ideal manner. EnviTec Biogas currently operates 20 of its own biogas plants, and is continuing to significantly expand this base in the course of the current year. "We are benefiting from our high liquidity, which enables us to finance the construction of our own plants from our own resources," noted Jörg Fischer. "With the operation of these highly profitable plants, we are less dependent on income from the construction of plants for customers in Germany and abroad." In the meantime, progress is also being achieved with regard to the approval procedures for the biogas plants. In a number of countries, including Italy, for example, these procedures are now progressing more rapidly and efficiently than just two years ago. Other European governments are also providing statutory support for the construction of biogas plants. CCO Roel Slotmann commented as follows on this topic: "Our sector enjoys very good prospects in Germany, as well as in countries such as Italy, France, the Czech Republic, India and Belgium."

Positive order trend, particularly in Italy and France

A gratifying trend in new orders was registered in the first quarter of 2010 with an inflow of EUR 67.9 million to total EUR 235.8 million (March 31, 2009: EUR 167.5 million). Of these orders, EUR 86.9 million were received from abroad (2008: EUR 57.9 million). Business developments in Italy and France were particularly lively. EnviTec Biogas launched four projects in Italy, one of the most important markets. Work is already underway on seven further plants. The order book in Italy amounted to more than EUR 40 million on March 31, more than four times as high as at March 31, 2009. France is also developing into a market promising great success: here, EnviTec Biogas received new orders of EUR 6.4 million in the first quarter alone.

High second-quarter capacity utilization

The second quarter of 2010 has started well for EnviTec Biogas. Capacities are very well utilized. "We anticipate that this trend will continue," commented Jörg Fischer. And the potential remains high. The feeding of prepared biogas into the natural gas network, for example, offers significant earnings opportunities for the company. With its autumn coalition agreement, the federal government created the preconditions for pushing ahead with biogas supply. EnviTec Biogas has positioned itself to generate significant earnings in the future on this market. Jörg Fischer: "We will also pursue cooperation ventures with partners to a greater extent, both in Germany and abroad, in order to expand the highly profitable operation of our own biogas plants." In May, for instance, the company forged a cooperation agreement with the company BKN biostrom AG. Initially, the two companies intend to jointly develop, construct and operate biogas plants with a total output of more than 15 megawatts. The company aims to lay the foundation stone for the first of these plants as early as this year.

The report for the first quarter of 2010 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. 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. In 2009, EnviTec Biogas generated revenue of EUR 120 million and EBIT of EUR -0.5 million. The EnviTec Group currently has 391 employees. EnviTec Biogas has been listed in the Prime Standard segment of the Frankfurt Stock Exchange since July 2007.

Investor Relations:
Olaf Brandes
EnviTec Biogas AG
Tel: +49 44 42 80 65-118
ir@envitec-biogas.de

Press contact:
Britta Cirkel, Christina Siebels
HOSCHKE & CONSORTEN Public Relations GmbH
Tel: +49 40 36 90 50- 56 /-58
b.cirkel@hoschke.de; c.siebels@hoschke.de

Download

back

Skip navigation