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BDI - BioEnergy International AG: Order delays negatively impact the result

DGAP-News: BDI - BioEnergy International AG / Key word(s): Final
Results
BDI - BioEnergy International AG: Order delays negatively impact the
result

31.03.2015 / 08:06

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BDI - BioEnergy International AG: Order delays negatively impact the result


(Grambach, 31 March 2015): BDI - BioEnergy International AG, the leading
technology supplier and specialised plant manufacturer in the waste to
value field, reported a decline in revenues of 53.9% to EUR 16.3 million in
the financial year 2014. The reason for this was the delay in the
implementation of two major BioDiesel projects. The operating result (EBIT)
in the reporting period was EUR -5.0 million (previous year: EUR 2.6
million). Due to a positive financial result (including taxes) the result
for the period was improved to EUR -1.7 million but remains below previous
years' level (previous year: EUR 3.2 million). With an on-going high order
backlog and an excellent equity base BDI is well prepared for the future.
In the financial year 2014, a dividend of 1.10 Euro per share was
distributed.

The two major BioDiesel projects in Croatia and the Netherlands got delayed
due to difficulties in the project financing and the regulatory approval.
Therefore, the order to cash through the high order backlog in 2014 did not
go according to plan, which contributed significantly to the negative EBIT
in 2014. Taking into account the EUR 20.0 million project in Croatia (which
we currently assess as restrained) the order backlog as at 31st of December
2014 amounted to EUR 73.9 million (previous year: EUR 74.1 million).

With the signing of a contract for the engineering and the delivery of a
Multi-Feedstock BioGas plant in Poland, BDI has set a further milestone in
the field of biogas production, based on waste. Successes in the BioDiesel
segment were the hand-over of a Multi-Feedstock BioDiesel plant in Hong
Kong, the opening of the converted BioDiesel plant in Greece and the
delivery of engineering services and equipment to the USA. The after-sales
business developed exceptionally well and for the first time achieved
revenues of more than EUR 2.0 million, which is evidence for the quality of
the customer service of BDI.

At the German subsidiary UIC the laboratory and R&D capacities were
extended and a new, modern market presence was created. Thereby, UIC has
taken first successful steps towards the transformation from a pure