DGAP-News: ZhongDe Waste Technology AG / Key word(s): Half Year Results ZhongDe Waste Technology AG: Half-year results show slight recovery year-on-year 28.08.2014 / 09:58 --------------------------------------------------------------------- Results H1 2014 ZhongDe Waste Technology AG: Half-year results show slight recovery year-on-year * Revenue grew by almost 80 per cent to 4.6 million Euros * Stable EBIT of -2.8 million Euros * Net result amounted to -4.4 million Euros * Financial outlook unchanged Frankfurt, 28 August 2014 - The first half-year of 2014 remained a transition period for ZhongDe Waste Technology AG. Although the results of the period were weak, ZhongDe succeeded in improving its revenues and gross profit compared to the same period in 2013. The financial results of ZhongDe in the first half-year of 2014 reflect an improved project progress compared to the corresponding period in 2013. Revenues went up by 78.8 per cent to 4.6 million Euros (H1 2013: 2.6 million Euros). ZhongDe's two currently running EPC projects Zhucheng and Dingzhou contributed 2.4 million Euros or 52.1 per cent to the consolidated revenues. BOT projects contributed 2.2 million Euros or 47.9 per cent to total group revenues. Gross profit increased by 48.6 per cent from 0.2 million Euros in the first half-year of 2013 to 0.3 million Euros in the first half-year of 2014, while the gross profit margin decreased to 6.0 per cent (H1 2013: 7.0 per cent). EBIT remained nearly stable amounting to -2.8 million Euros. Net result went down to -4.4 million Euros (H1 2013: -3.3 million Euros). Order backlog and cash position remain strong Due to foreign currency translation differences as well as the project progress ZhongDe's order backlog decreased to 218.3 million Euros (H1 2013: 248.7 million Euros). As at 30 June 2014 ZhongDe still maintains a strong cash position of 88.5 million Euros (31 December 2013: 110.1 million Euros). Besides the regular cash outflow due to the company's normal operation, the decrease in cash position was also caused by repayments of loans. Financial outlook remains unchanged With regard to the second half of 2014 ZhongDe maintains its outlook given at the end of May in its Q1 2014 report. Thus, improved operating results are expected for the full year 2014, although still leading to a loss before taxes. In the mid-term, ZhongDe still expects to benefit from the favourable political and economic environment for eco-friendly waste disposal, as well as from the growing demand for energy-from-waste-plants, both in China and throughout Asia. Furthermore, the management board evaluates all strategic opportunities on a regular basis, which refers to the acquisition of new BOT or EPC contracts as well as to the potential sale of several or all BOT projects. Please find the complete H1 report of ZhongDe Waste Technology AG on the company's website under the following link: http://www.zhongde-ag.com/investor_relations/publikationen.html About ZhongDe Group ZhongDe Group designs, invests, constructs, finances and operates energy-from-waste plants generating electricity from the incineration of solid municipal and industrial waste. ZhongDe realises either EPC (Engineering, Procurement and Construction) or BOT (Build, Operate and Transfer) projects, focusing on large-scale plants with waste disposal capacities of around 1,000 tons per day. Since 1996, ZhongDe Group has installed approximately 200 waste incinerators in 13 provinces throughout China. ZhongDe is one of the leading players in the project development and operation of energy-from-waste plants in China. Contact ZhongDe Waste Technology AG William Jiuhua Wang Executive Director and CFO E-Mail: [email protected] Ying Sun Investor Relations Messeturm 25th floor Friedrich-Ebert-Anlage 49 60308 Frankfurt am Main T: +49 69 50956 5655 F: +49 69 50956 5520 E-Mail: [email protected] Kirchhoff Consult AG Nicole Schüttforth Investor Relations Consultant T: +49 40 60 91 86 64 F: +49 40 60 91 86 60 E-Mail: [email protected] --------------------------------------------------------------------- 28.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: ZhongDe Waste Technology AG Messeturm 25th floor 60308 Frankfurt Germany Phone: + 49 69 50956 5655 Fax: + 49 69 50956 5520 E-mail: [email protected] Internet: www.zhongde-ag.de ISIN: DE000ZDWT018 WKN: ZDWT01 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 284261 28.08.2014