EnviTec Biogas starts 2011 with surge in revenues
- Sales revenues up 70%
- EBIT up from EUR -0.9 million to EUR 0.5 million
- New orders worth EUR 82.1 million in Q1 alone
- Order backlog of EUR 302.5 million at end of March
Lohne, 26 May 2011 – EnviTec Biogas AG [ISIN: DE000A0MVLS8] had a dynamic start to the year 2011. Sales increased by over 70% on the previous year to EUR 36.6 million, as the company benefited from high demand for biogas plants in Germany and abroad. Sales revenues in Germany, the company’s most important output market, rose by 67.3% to EUR 24.6 million, while foreign sales revenues almost doubled to EUR 12.1 million compared to the first quarter of 2010. “We are satisfied with our performance in the first three months, all the more so as this is usually the weakest quarter for our sector for weather reasons,” said EnviTec’s CFO Jörg Fischer.
The high sales growth also had a positive impact on the bottom line. EnviTec Biogas improved its earnings before interest and taxes (EBIT) from EUR -0.9 million in the previous year to EUR 0.5 million in the first three months of 2011. Net income for the period climbed from EUR -0.5 million to EUR 0.5 million. This is equivalent to earnings per share of EUR 0.04 (previous year: EUR -0.05). “In the coming months, we will further increase our sales revenues and, in particular, our earnings,” Jörg Fischer added.
This optimism is not least attributable to the fact that incoming orders in the first quarter of 2011 totalled EUR 82.1 million. The international expansion of the past years is increasingly paying off, with international customers accounting for almost 50% of these orders. Italy, France and the UK are important foreign markets. EnviTec has also entered the Spanish and Serbian markets, where the company won its first contracts in the first quarter. At the end of March, the company had an order backlog totalling EUR 302.5 million.
Accordingly, EnviTec’s projections for the year 2011 are positive. The dynamic growth should continue and lead to a marked increase in sales revenues and earnings as compared to the previous year.
The interim report on the first three months of 2011 is available for downloading at www.envitec-biogas.de.
About 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 provides the biological and technical service, and also offers full plant and operating management. In Güstrow, in the German state of Mecklenburg-Western Pomerania, EnviTec Biogas built the world's largest plant for the production of biogas to natural gas standards with a thermal output of 55 megawatts. In addition, the company also operates its own biogas plants. Today, the company is represented in more than 15 countries throughout Europe, as well as in India. EnviTec Biogas generated revenues of EUR 148 million and EBIT of EUR 1.0 million in 2010. The EnviTec Group currently has 419 employees. EnviTec has been listed on the Prime Standard segment of the Frankfurt Stock Exchange since July 2007.
The high sales growth also had a positive impact on the bottom line. EnviTec Biogas improved its earnings before interest and taxes (EBIT) from EUR -0.9 million in the previous year to EUR 0.5 million in the first three months of 2011. Net income for the period climbed from EUR -0.5 million to EUR 0.5 million. This is equivalent to earnings per share of EUR 0.04 (previous year: EUR -0.05). “In the coming months, we will further increase our sales revenues and, in particular, our earnings,” Jörg Fischer added.
This optimism is not least attributable to the fact that incoming orders in the first quarter of 2011 totalled EUR 82.1 million. The international expansion of the past years is increasingly paying off, with international customers accounting for almost 50% of these orders. Italy, France and the UK are important foreign markets. EnviTec has also entered the Spanish and Serbian markets, where the company won its first contracts in the first quarter. At the end of March, the company had an order backlog totalling EUR 302.5 million.
Accordingly, EnviTec’s projections for the year 2011 are positive. The dynamic growth should continue and lead to a marked increase in sales revenues and earnings as compared to the previous year.
The interim report on the first three months of 2011 is available for downloading at www.envitec-biogas.de.
About 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 provides the biological and technical service, and also offers full plant and operating management. In Güstrow, in the German state of Mecklenburg-Western Pomerania, EnviTec Biogas built the world's largest plant for the production of biogas to natural gas standards with a thermal output of 55 megawatts. In addition, the company also operates its own biogas plants. Today, the company is represented in more than 15 countries throughout Europe, as well as in India. EnviTec Biogas generated revenues of EUR 148 million and EBIT of EUR 1.0 million in 2010. The EnviTec Group currently has 419 employees. EnviTec has been listed on the Prime Standard segment of the Frankfurt Stock Exchange since July 2007.
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