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EnviTec Biogas AG: AGM decides dividend of EUR 0.80 per share
Strategy of the company confirmed / All items on the agenda approved as proposed by the management
The Executive Board commented in detail on the results of the financial year and the outlook for the global biogas sector. As a fully integrated, full-service biogas supplier with strong own plant operations and a professional range of services, EnviTec believes it is well positioned. The company's plant construction activities benefit from high demand primarily in European markets such as the UK, France and Denmark as well as in Asia. The spin-off of the plant construction operations and the efficient concentration on international growth markets is gradually paying off. The German market is not expected to provide any more stimulation for the construction of biogas plants for the time being. The amendment of the German Renewable Energy Sources Act adopted by the German cabinet in early June will not lead to any meaningful incentives for the construction of biogas plants in Germany, either.
Says Olaf von Lehmden, CEO of EnviTec Biogas AG: "The new EEG amendment underpins the lack of political will in Germany to rely in the turnaround in energy policy on the flexible energy source that is biogas. In the long term, we will therefore have to take new approaches without compensation under the EEG. We will primarily rely on expanding our range of services, on our technological strength in the market and on the sustainable operation of biogas plants. Building on our comprehensive expertise and our excellent international reputation, our Plant Construction segment will seize opportunities that arise in attractive markets with determination in order to generate sustainable positive results."
On the occasion of the Annual General Meeting, the Executive Board confirmed its forecast for the current financial year 2016, according to which sales revenues will pick up moderately and earnings before interest and taxes (EBIT) will be slightly higher than in the previous year.
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