EnviTec Biogas presents figures for FY 2009

- 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 101million. 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 36.6million). “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 andsuccessful 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 mainobstacles. They have an adverse impact on the sale of plants and the company’s investments in own plants. Increased financing requirements made by banks in some countries additionallydelayed 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 andreported 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 ownplant 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 Constructionsector 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 +1.9million), 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: EUR5.8 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 the expansion of capacity. The company hadexpected 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 forecastinstruments 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), primarilyin 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 federalgovernment 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 operatorsof 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 governmentssupport the operators of biogas plants with new legislation and attractive long-term compensation to promote the important renewable energies sector. EnviTec Biogas focuseson 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 reliableforecast 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 GeneralMeeting on 24 June. The Annual Report for 2009 is available on the Internet at www.envitecbiogas.de.

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 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 15 countries throughout Europe and as well in India and South Korea. In 2009 EnviTec generated revenues of EUR 120 million and an EBIT of EUR - 0,5 million. The EnviTec Group currently has about 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@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@hoschke.de; c.siebels@hoschke.de

Download

back

Skip navigation