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General meeting 2014: Implemented measures are taking effect

EnviTec Biogas rules a challenging business year

Lohne, 1 August 2014 – "We have come out winners at the end of a demanding and challenging business year", sums up Jörg Fischer, CFO of EnviTec Biogas AG (ISIN: DE000A0MVLS8) during the general meeting of the biogas all-rounder in Lohne yesterday. Despite a stagnant order situation in Germany, which is the domestic market, and the amendment to the Renewable Energy Law (EEG) 2014 decided on 27 June, the company, which is globally active in more than 20 markets, is looking ahead optimistically. "The structural measures that we implemented in 2013 are taking effect. We have become more flexible and sophisticated to be able to counter fluctuations, especially in plant construction”, says Fischer. 

Although the turnover of the group dropped by about 22 percent from 191 to 149 million, the extremely positive developments in the fields of Company-owned operations, Service and Energy partially compensated for the recession in the field of Plant construction. The revenues made from the operation of company-owned biogas plants went up from 40.8 million euros to 62.5 million euros, i.e. by 53.1 percent, thus becoming the segment with the highest turnover in the EnviTec group for the first time. The foreign turnovers have dropped from 88.7 million euros in 2012 to 45.1 million euros. The reason for this is the changes in the legal framework conditions in Italy. The legislator reduced the remuneration there following a uniform peak tariff of 28 cent/kWh for supply to the power grid. Here, EnviTec might score with its high-performance compact systems under 300 kW.

Healthy capital structure
Due to the great development in its company-owned operations, the operative earnings (EBIT) of EnviTec Biogas have increased to 2.4 million euros in 2013. The net earnings of the group were 0.3 million euros in 2013 as against 1.2 million euros in the previous year. This meant earnings of 0.02 euros per share in the year 2013. EnviTec continues to have an extremely healthy capital structure in the process: “With an equity capital amounting to approximately 169 million euros, we are on a solid footing“, continues the CFO. This was equivalent to an equity ratio of 57 percent.

In the current year, EnviTec is anticipating a group turnover between 145 and 165 million euros. The operative earnings are also expected to continue to be positive. "The development of the foreign markets such as Great Britain, China and USA gives us a very good reason to be optimistic about the future", says Chairman, Olaf von Lehmden. Furthermore, the EnviTec team is focussing on further development of its three growth segments – Energy, Company-owned operations and Service. "Thanks to our successfully implemented restructuring measures, we are all set to face any challenges that the future might hold for us and are in a position to react to new market requirements flexibly", says von Lehmden on a parting note.

Investments in company-owned plants
84,29 percent of the basic capital was represented in the general meeting of the Lower Saxon biogas all-rounder this year. For all the points on the agenda, the shareholders voted with a majority for the suggestions of the management. Among others, it was decided that the profits made in the business year 2013 should be carried forward. With this step, the future financing of investments in company-owned operations was secured.

 

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 operates in more than 20 countries. In 2013, EnviTec generated revenues of €148.8 million and an EBIT of €2.4 million. The EnviTec Group currently has 350 employees. EnviTec Biogas has been listed on the Frankfurt stock exchange since July 2007.

Press contact:
Katrin Selzer
EnviTec Biogas AG
Tel: +49 25 74 88 88 - 810
Email: k.selzer@envitec-biogas.de

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