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EnviTec Biogas increases revenues and earnings in FY 2014

-   Sales revenues of EUR 163.4 million (+9.8%)
-    EBIT of EUR 6.3 million (+262.5%)
-    EnviTec defies declining industry trend thanks to internationalisation
-    Forecast for 2015: Revenues and EBIT at prior year level

Lohne, 15 May 2015 – EnviTec Biogas AG (ISIN: DE000A0MVLS8) increased both sales revenues and the operative result (EBIT) significantly in the financial year 2014 in spite of difficult conditions in the biogas market. The EnviTec Group’s four business segments – Plant Construction, Own Plant Operation, Service and Energy – generated sales revenues of EUR 163.4 million, up 9.8% on the previous year. This represents the upper end of the range projected for 2014. The strongest increase in revenues was achieved by the still young Energy segment, which grew by 37.6% to EUR 27.1 million. After the sharp drop in revenues in 2013, EnviTec’s Plant Construction segment is back on the growth track and generated revenues of EUR 50.4 million (+ 6.6%). This is primarily attributable to the Group’s strong international business, whereas the construction of biogas plants in Germany has hardly any importance due to the EEG 2014.  

“Our strategic positioning is essentially based on the operation of biogas plants, which generates high cash flows, and the construction of plants in international growth markets, and this strategy is clearly paying off. Our figures for 2014 show that we were able to defy the general industry trend in Germany,” said Jörg Fischer, Chief Financial Officer of EnviTec Biogas AG.

Earnings before interest and taxes (EBIT) improved by an impressive 262.5% to EUR 6.3 million in the financial year 2014. Consolidated net income amounted to EUR 4.2 million, compared to EUR 0.3 million in the previous year. Accordingly, earnings per share rose sharply from EUR 0.02 to EUR 0.28. The Executive and Supervisory Boards of EnviTec Biogas AG propose to distribute a dividend of EUR 0.35 per share for the business year 2014.

At the end of 2014, EnviTec’s equity capital amounted to EUR 174 million, which is equivalent to an equity ratio of 54.4% (previous year: 57.4%). The company’s cash position is comfortable. As of the end of the year, cash and cash equivalents totalled approx. EUR 20.1 million. Gross cash flow amounted to EUR 21.7 million in 2014 (previous year: EUR 7.5 million), while net cash flow came in at EUR 35.4 million (previous year: EUR 37.8 million).

At the end of 2014, EnviTec Biogas had an order backlog of EUR 37.3 million. This forms a good basis for a stable year 2015, for which EnviTec projects consolidated sales revenues and EBIT at the prior year level. Business will again be driven primarily by the Own Plant Operation segment, whose production capacity will be expanded from the current level of 57.9 megawatts through the selective expansion and takeover of existing plants.

EnviTec’s Plant Construction segment projects strong new business especially in Great Britain, where the general conditions are good mainly thanks to the support for the feeding of biomethane into the natural gas grid. Other important foreign markets include France as well as China and Japan. Most recently, EnviTec successfully took a pilot plant in the Japanese city of Osaka into operation. Overall, EnviTec believes it is well positioned in the global biogas market and fit for the future thanks to the structural adjustments made in the past years.  

The full Annual Report for 2014 is available at www.envitec-biogas.de/ir/veroeffentlichungen/finanzberichte.html.

 

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 and biogas upgrading plants as well as their commissioning. The company takes charge of biological and technical services on demand and also offers full plant and operational management. In addition, EnviTec also operates its own biogas plants. In 2011, EnviTec Biogas along with EnviTec Energy GmbH & Co. KG and its 100% subsidiary EnviTec Stromkontor GmbH & Co. KG expanded its business operations into the direct marketing of upgraded biomethane as well as the marketing of green electricity and balancing energy. EnviTec Biogas AG currently has a presence in 16 countries. In 2014, EnviTec generated revenues of EUR 163.4 million and an EBIT of EUR 6.3 million. The EnviTec Group currently has about 350 employees. EnviTec Biogas has been listed on the Frankfurt stock exchange since July 2007.

Contact:
Katrin Selzer
EnviTec Biogas AG
Tel: +49 25 74 88 88 - 810
E-Mail: k.selzer@envitec-biogas.de

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