30.04.2014
EnviTec Biogas AG DE000A0MVLS8
DGAP-News: EnviTec Biogas remains profitable in difficult industry environment
DGAP-News: EnviTec Biogas AG / Key word(s): Final Results/Forecast
EnviTec Biogas remains profitable in difficult industry environment
30.04.2014 / 14:00
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EnviTec Biogas remains profitable in difficult industry environment
- Sales revenues of EUR 148.8 million; EBIT of EUR 2.4 million; equity
ratio of 57.4%
- Internationalisation and own plant operation activities to be pushed
ahead
- Forecast for 2014: Sales revenues of EUR 145 to 165 million and
positive EBIT
Lohne, 30 April 2014 - As had been expected, 2013 was a very challenging
year for the German biogas industry. While demand in Germany, which used to
be the most important market for the sector, had slumped by 80% in 2012,
the new plant construction volume again declined by about one quarter in
2013. This is attributable to the fact that the ongoing discussion about
the future legal framework and potential retroactive amendments to the
compensation paid for electricity from renewable sources is causing great
uncertainty among all players along the value chain. "EnviTec pushed ahead
its international expansion at an early state and invested in the operation
of its own biogas plants," says Jörg Fischer, Chief Financial Officer of
EnviTec Biogas AG. "We are now benefiting from these investments in what is
a difficult phase for our sector." Due to strong growth in the Own Plant
Operation segment, EnviTec Biogas (ISIN: DE000A0MVLS8) was able to nearly
double its earnings before interest and taxes (EBIT) to EUR 2.4 million in
the financial year 2013. Consolidated net income amounted to EUR 0.3
million in 2013, compared to EUR 1.8 million in the previous year. This is
equivalent to earnings per share of EUR 0.02 for 2013 (previous year: EUR
0.08). EnviTec's total sales revenues in 2013 amounted to EUR 148.8
million, compared to EUR 190.5 million in the previous year. For the first
time ever, the Own Plant Operation segment made the biggest contribution to
Group revenues. Revenues from the operation of own biogas plants increased
by 53.1% from EUR 40.8 million to EUR 62.5 million. Sales revenues in the
Plant Construction segment declined from EUR 124.6 million to EUR 47.3
million, to which the company's international operations contributed EUR
25.6 million.
Says Jörg Fischer: "Unfortunately, the current draft of the German
Renewable Energy Sources Act fails to take into account the advantages of
biogas and biomethane, which are highly versatile decentralised energy
sources that can meet both baseload and peak load requirements without
further grid expansion and thus act as important stabilisers in the system.
Not even the grandfathering is finally secured. Instead, the federal
government relies on imported natural gas and coal, the primary energy
sources with the worst carbon footprint. We will therefore focus even more
strongly on our foreign business and the operation of own biogas plants."
EnviTec's equity capital amounted to EUR 169.4 million at the end of 2013,
which gives the company a sound financial foundation. It is equivalent to
an equity ratio of 57.4% (previous year: 52.3%). The net cash flow came in
at EUR 37.8 million (previous year: EUR 32.5 million).
At the end of 2013, EnviTec Biogas had an order backlog worth EUR 67.6
million, which is a good basis for a stable year 2014. EnviTec projects
Group revenues of between EUR 145 million and EUR 165 million for the
current financial year. Earnings before interest and taxes are expected to
stay in positive territory.
The Own Plant Operation segment will again make the biggest contribution to
Group sales and earnings. The company will continue to optimise the
production capacity of 52 megawatts and build new plants on a selective
basis. If warranted by the general environment, the production capacity
will be increased by 4 MW each in 2014 and 2015. The focus will be on
Germany and the UK.
Markets outside Germany will become increasingly important for the
company's plant construction activities. There are many attractive markets
for biogas and biomethane. This is something the company prepared for in
2013 by increasing the efficiency of its structures and adjusting its
product range. France and the UK are the most important foreign markets at
present. EnviTec has also won and partly executed the first contracts in
the USA and China.
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 20 countries. In 2013,
EnviTec generated revenues of EUR148.8 million and an EBIT of EUR2.4
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: [email protected]
End of Corporate News
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Language: English
Company: EnviTec Biogas AG
Industriering 10a
49393 Lohne
Germany
Phone: +49 (0) 44 42 - 80 65 0
Fax: +49 (0) 44 42 - 80 65 103
E-mail: [email protected]
Internet: www.envitec-biogas.de
ISIN: DE000A0MVLS8
WKN: A0MVLS
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart; Frankfurt in Open Market (Entry
Standard)
End of News DGAP News-Service
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265814 30.04.2014
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