EnviTec Biogas AG reports preliminary 2012 results and announces dividend proposal

(PresseBox) ( Lohne, )
EnviTec Biogas AG (ISIN: DE000A0MVLS8) reports its preliminary figures for the financial year 2012. Group sales came in at approximately EUR 190 million compared to EUR 244 million in the year 2011. This clear decline in sales is also reflected in the earnings performance. Earnings before interest, taxes, depreciation and amortisation (EBITDA) reduced from EUR 20.3 million to approximately EUR 14.5 million. The increase in depreciation and amortisation - particularly due to the higher number of own biogas plants - resulted in earnings before interest and taxes (EBIT) declining from EUR 10.8 million to approximately EUR 1.3 million. This reduction is also due to costs in the Italian Own Plant Operation segment rising towards the end of the year, reflecting a very poor harvest which unexpectedly drove up the prices of agricultural commodities in Italy.

Investments in the renewables space in Germany are currently being severely hampered by the political debate surrounding the future parameters for the production of renewable energy in Germany. This has affected both the Plant Construction segment and the Own Plant Operation segment of EnviTec Biogas. During the current year the company will consequently not expand the production capacity of its Own Plant Operation segment (52 megawatts at year-end 2012) as fast as previously planned.

Due to the lower capital expenditure, the good cash position and the very solid equity ratio of 52 percent (as at 31 December 2012), the Supervisory Board and the Executive Board will propose payment of a special dividend amounting to EUR 1.00 per share to the shareholders at the ordinary Annual General Meeting on 27 June 2013.
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