EnviTec Biogas AG raises earnings forecast for fiscal year 2022

Lohne, July 5, 2022 – The Management Board of EnviTec Biogas AG (ISIN: DE000A0MVLS8) today raised its earnings forecast for the current fiscal year 2022 and now expects earnings before taxes (EBT) at Group level in the range of EUR 35 to 40 million. So far, the EBT forecast was in the range of EUR 27 to 30 million. A key reason for the increase in the earnings guidance is that the Own Plant Operation segment, and in particular the Güstrow Bioenergy Park, has exceeded management's expectations, as it will be possible to produce considerable volumes of biomethane in the current financial year despite the conversion work.  Furthermore, the company received substantial advance payments from customers and was thus able to hedge prices in purchasing, which cushioned the price increases expected in the planning. However, the current crisis due to the war in Ukraine with continuing price increases and supply chain problems continues to represent a risk factor.

Contact:

Katrin Hackfort

EnviTec Biogas AG

Phone: +49 25 74 88 88 - 810

E-Mail: [email protected]