Press release BoxID: 559181 (EnviTec Biogas AG)
  • EnviTec Biogas AG
  • Industriering 10a
  • 49393 Lohne
  • Contact person
  • Olaf Brandes
  • +49 (4442) 8065-118

EnviTec Biogas: All business segments contribute positive figures to third quarter result

(PresseBox) (Lohne, ) .
- Q3 sales at EUR 55.9 million, up 29.2 percent from Q2
- Clearly positive EBIT at EUR 4.5 million
- Operating cash flow at EUR 39.5 million for the first nine months
- Guidance for full-year 2012: Sales in excess of EUR 180 million and clearly positive earnings

Despite the challenging industry environment, EnviTec Biogas AG (ISIN: DE000A0MVLS8) is reporting a positive business performance for the third quarter. The company started to tap new markets and to push ahead the expansion of its Own Plant Operation early on. In addition, EnviTec offers comprehensive services including repowering and the marketing of environmentally friendly energy. "Our broad based business model positions us as a fully integrated biogas supplier, giving EnviTec a genuine USP. Consequently we are able to post a positive result across all segments even at a time when demand for new biogas plants in Germany - the largest biogas market in the world - has slumped by 80 percent," said Jörg Fischer, Chief Financial Officer of EnviTec Biogas AG.

Following on from the exceptional year 2011 when the biogas industry benefited from projects brought forward to evade the new Renewable Energy Sources Act coming into force in 2012, EnviTec was able to boost its third-quarter sales and earnings compared to the previous two quarters. Third-quarter sales amounted to EUR 55.9 million, up 29.2 percent on the second quarter of 2012; this compared with third-quarter 2011 sales of EUR 77.3 million. International sales were up by approx. 40 percent on the previous quarter's EUR 19.8 million to EUR 27.8 million (2011: EUR 19.2 million).

The positive EBIT (earnings before interest and taxes) performance seen in the second quarter of 2012 continued in the third quarter. Having more or less broken even in the second-quarter, EnviTec generated clearly positive EBIT of EUR 4.5 million in the third quarter. While EBIT for the full nine-month period 2012 now stand at EUR 2.6 million (2011: EUR 8.0 million), after-tax profit is reported at EUR 3.9 million (2011: EUR 6.1 million). The operating cash flow showed a very satisfactory development in the first nine months; at EUR 39.5 million it was substantially higher than the EUR 3.7 million posted for the prioryear period.

In view of the dynamic sales and earnings trend in the third quarter, EnviTec Biogas confirms its guidance for the full year: Following on from the exceptionally good year 2011, 2012 will be a year of transition for the company and the German biogas sector as a whole. The clearly lower demand for biogas plants in Germany will lead to a sharp drop in the Plant Construction segment's domestic revenues. This will be partly offset by strong business abroad. The company projects growing revenues and earnings in the Own Plant Operation and Service segments. EnviTec consequently projects sales revenues in excess of EUR 180 million and a clearly positive result at Group level for the full year 2012.

In 2013, the German biogas market should stabilise at a low level and have a positive effect on the company's incoming orders. International revenues will nevertheless account for a growing share in the Plant Construction segment's total sales revenues and make a declining contribution to total Group sales in percentage terms. This is due to the fact that the many new plants commissioned by the Own Plant Operation segment in 2012 will increase that segment's sales and earnings significantly. Jörg Fischer: "As the highly profitable Own Plant Operation segment continues to gain importance, the Group's EBIT margin should improve compared to 2012."

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 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 established EnviTec Energy GmbH & Co. KG and its 100% subsidiary EnviTec Stromkontor GmbH & Co. KG, expanding its business operations into the direct marketing of upgraded biomethane as well as the marketing of green electricity and balancing energy. Today, EnviTec Biogas AG is represented in 15 countries throughout Europe, as well as in India and the USA. In 2011 EnviTec generated revenues of € 243.9 million and an EBIT of € 10.8 million. The EnviTec Group currently has 470 employees. EnviTec has been listed on the Prime Standard segment of the Frankfurt Stock Exchange since July 2007.