26.04.11

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EnviTec Biogas reports positive business performance for 2010

• Sales revenues up 23.4% to EUR 148.0 million
• International sales more than doubled to EUR 47 million
• EBIT improved from EUR -0.5 million to EUR 1.0 million
• Order backlog at very high level of EUR 252.6 millon 

Lohne, 27 April 2011 – The year 2010 was marked by very dynamic growth for EnviTec Biogas AG [ISIN: DE000A0MVLS8]. Following a weather-related difficult start to the year, Europe’s leading manufacturer of biogas plants improved its sales revenues from quarter to quarter and generated EUR 47.7 million in the last three months, which is a record in the company’s history. Total sales revenues increased by 23.4% from EUR 119.9 million to EUR 148.0 million. The company’s international activities showed a particularly positive trend, with sales from the construction of biogas plants abroad rising from EUR 21.2 million to EUR 43.7 million in the past fiscal year. This represents an increase by 106.1%. “Our internationalisation efforts are increasingly paying off. Especially in Italy, there is huge demand for our biogas plants,” says Jörg Fischer, CFO of EnviTec Biogas AG. International sales accounted for 31.8% of total Group sales, up from 17.7% in the previous year. 

EnviTec Biogas reported a turnaround in earnings and generated earnings before interest and taxes (EBIT) of EUR 1.0 million (previous year: EUR -0.5 million). A better result was prevented by non-recurrent effects of EUR 3.4 million in the Plant Construction segment. The Group’s net income for the year climbed from EUR 1.3 million to EUR 2.3 million, while earnings per share rose from EUR 0.08 to EUR 0.15. 

All divisions delivered a positive performance in 2010. Due to high demand in Germany and Italy, sales revenues in the Plant Engineering segment picked up by 22.7% from EUR 94.6 million to EUR 116.1 million. EnviTec’s Own Plant Operation segment generates electricity, heat and gas in its own biogas plants, often in cooperation with partners. The company took twelve new plants into service in 2010, boosting the electrical output from 15.2 MW to 21.5 MW. The segment’s sales revenues rose by 18.8% to EUR 22.1 million in the fiscal year 2010, while the EBIT margin reached 24.1%. At EUR 9.8 million, sales revenues from biogas-related services were up by 47.1% on the previous year. 

Outlook on 2011: High order backlog to support continued growth 

“We had a good start to the year 2011,” says CFO Jörg Fischer. “It is our declared objective to achieve a further increase and to use economies of scale to improve our profitability.” The planned growth will be supported by the high order backlog. At the end of 2010, EnviTec had orders for the construction of biogas plants worth EUR 252.6 million. Germany and Italy will remain the company’s most important output markets in the current year. Possible legal amendments in Germany may influence the business in 2011 and, hence, the company’s projections. Overall, however, the company’s international activities continue to gain importance. At EUR 91.1 million, foreign orders accounted for as much as 36.0% of the order backlog at the end of 2010.  

EnviTec will continue to expand its Own Plant Operation activities, which generate high margins. The company intends to take biogas plants with an electrical output of roughly 12 MW into service in 2011 and 2012 each, which will more than double the existing capacity. EnviTec has obtained the first approvals for its own biogas plants in Italy. Construction of the first plants could commence before the end of 2011, as soon as the necessary project loans have been raised. 

The Annual Report for 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. In addition, 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. EnviTec Biogas generated revenues of EUR 148 million and EBIT of EUR 1.0 million in 2010. The EnviTec Group currently has 411 employees. EnviTec has been listed on the Prime Standard segment of the Frankfurt Stock Exchange since July 2007.

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