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EnviTec Biogas AG: General meeting 2014: Implemented measures are taking effect (news with additional features)

DGAP-News: EnviTec Biogas AG / Key word(s): AGM/EGM
EnviTec Biogas AG: General meeting 2014: Implemented measures are
taking effect (news with additional features)

01.08.2014 / 10:00

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CORPORATE NEWS

General meeting 2014: Implemented measures are taking effect
EnviTec Biogas rules a challenging business year

Lohne, 1 August 2014 - "We have come out winners at the end of a demanding
and challenging business year", sums up Jörg Fischer, CFO of EnviTec Biogas
AG (ISIN: DE000A0MVLS8) during the general meeting of the biogas
all-rounder in Lohne yesterday. Despite a stagnant order situation in
Germany, which is the domestic market, and the amendment to the Renewable
Energy Law (EEG) 2014 decided on 27 June, the company, which is globally
active in more than 20 markets, is looking ahead optimistically. "The
structural measures that we implemented in 2013 are taking effect. We have
become more flexible and sophisticated to be able to counter fluctuations,
especially in plant construction", says Fischer.

Although the turnover of the group dropped by about 22 percent from 191 to
149 million, the extremely positive developments in the fields of
Company-owned operations, Service and Energy partially compensated for the
recession in the field of Plant construction. The revenues made from the
operation of company-owned biogas plants went up from 40.8 million euros to
62.5 million euros, i.e. by 53.1 percent, thus becoming the segment with
the highest turnover in the EnviTec group for the first time. The foreign
turnovers have dropped from 88.7 million euros in 2012 to 45.1 million
euros. The reason for this is the changes in the legal framework conditions
in Italy. The legislator reduced the remuneration there following a uniform
peak tariff of 28 cent/kWh for supply to the power grid. Here, EnviTec
might score with its high-performance compact systems under 300 kW.

Healthy capital structure

Due to the great development in its company-owned operations, the operative
earnings (EBIT) of EnviTec Biogas have increased to 2.4 million euros in
2013. The net earnings of the group were 0.3 million euros in 2013 as
against 1.2 million euros in the previous year. This meant earnings of 0.02
euros per share in the year 2013. EnviTec continues to have an extremely
healthy capital structure in the process: "With an equity capital amounting
to approximately 169 million euros, we are on a solid footing", continues