DGAP-News: EnviTec Biogas reports successful fiscal year 2019 and is well prepared for the future

Corporate News
EnviTec Biogas reports successful fiscal year 2019 and is well prepared for the future

• Revenues climb 14.3% to EUR 213.6 million (previous year: EUR 186.8 million); total output up 5.2% to EUR 202.6 million
• EBITDA of EUR 30.2 million exceeds previous year's record level (EUR 27.3 million); operating result (EBIT) climbs to EUR 13.1 million (previous year: EUR 10.1 million)
• Dividend of EUR 1.00 per share proposed for FY 2019

Lohne, May 27, 2020 - 2019 was one of the best fiscal years in the history of EnviTec Biogas AG (ISIN: DE000A0MVLS8). With revenues and total output rising sharply, profitability based on EBITDA and EBIT also increased again.

Sales revenues in the Group's largest segment, Own Plant Operation, declined by 3.7% to EUR 110.3 million, while total output dropped by 3.8% to EUR 114.7 million. In the Services segment, sales revenues rose by 24.5% to EUR 48.2 million. Total output, which also takes into account the changes in the portfolio of repowering and flexibilisation projects under construction, grew by 6.7% to EUR 45.3 million. Sales revenues in the Plant Construction segment rose by 64.2% to EUR 55.1 million based on much higher capacity utilisation, while total output climbed 38.5% to EUR 42.6 million. The segment performance resulted in a 14.3% increase in Group revenues to EUR 213.6 million (previous year: EUR 186.8 million). Total output picked up by 5.2% to EUR 202.6 million.

Based on continued high profitability in the Own Plant Operation segment, the positive result in the Services segment (before consolidation of internal revenues) and the noticeable improvement in earnings in the Plant Construction segment, earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at EUR 30.2 million (2018: EUR 27.3 million), thus once again exceeding the record EBITDA of the previous year. Earnings before interest and taxes (EBIT) improved from EUR 10.1 million to EUR 13.1 million in FY 2019. At EUR 10.3 million, the result from ordinary activities was slightly below the previous year's EUR 10.4 million. Consolidated net income improved from EUR 6.8 million to EUR 7.3 million. Earnings per share amounted to EUR 0.49 (previous year: EUR 0.46).

In the separate financial statements of EnviTec Biogas AG, accumulated profits amounted to EUR 36.1 million. The Executive Board and the Supervisory Board of EnviTec Biogas AG propose to again distribute a dividend of EUR 1.00 per share for FY 2019.

At 56.8%, the equity ratio remained at a solid level (December 31, 2018: 57.5%). The number of employees increased from 427 to 433 as of December 31, 2019.

The order backlog in the Plant Construction segment totalled a very good EUR 124.3 million at the end of 2019 (previous year: EUR 84.4 million). Of this amount, plants worth EUR 61.2 million were already under construction and partially included in changes in inventories.

"The past fiscal year was another very successful year for our company," said Jörg Fischer, Chief Financial Officer of EnviTec Biogas AG. "I would like to highlight the positive trend in Plant Construction, which has continued in the current fiscal year to date. We are also very satisfied with the performance of the Services segment and the Own Plant Operation segment. Our efforts to use biomethane as a low-carbon fuel in the transport sector are also beginning to bear fruit. It would be desirable, however, especially in Germany in the current crisis, that clear political decisions are made in favour of a further transport and energy transition to ensure that biogas and biomethane can continue to make a sustainable contribution to the climate protection targets going forward."

As a leading integrated full-service biogas provider, EnviTec considers itself well positioned in the current fiscal year 2020 to survive the implications of the coronavirus pandemic largely unscathed. All business segments had a very successful start to the new year and only moderate impairments of the business operations have been noted so far. Nevertheless, additional adverse effects could result if the access and travel restrictions imposed in the context of the fight against the coronavirus pandemic are tightened again significantly and over an extended period of time. At this stage, the EnviTec management considers the scenario of further relaxed or moderate access and travel restrictions to be more realistic and assumes that consolidated total output (or sales revenues) in the fiscal year 2020 will be at the previous year's level. The EnviTec Executive Board also expects the result from ordinary activities (EBT) to reach the prior-year level.

The full Annual Report for 2019 is available at: https://www.envitec-biogas.com/company/investor-relations/ir-reports/financial-reports
 

About EnviTec Biogas AG
EnviTec Biogas AG is a full-service biogas provider who covers the entire value chain for the production and processing of biogas, including the planning and turnkey construction of biogas plants and biogas upgrading plants as well as their commissioning. The company takes charge of biological and technical services on demand and offers full plant and operational management. EnviTec operates 76 own plants, making it one of the largest biogas producers in Germany. The company's business activities also include the direct marketing of processed biomethane as well as the marketing of electricity and balancing energy. With a presence in 16 countries worldwide, EnviTec Biogas AG is represented by its own companies, sales offices, strategic partners and joint ventures. In 2019, the EnviTec Group generated revenue of EUR 213.6 million and EBIT of EUR 10.3 million. The Group currently employs 433 people. EnviTec Biogas AG has been listed on the Frankfurt Stock Exchange since July 2007.

Contact:
Katrin Hackfort
EnviTec Biogas AG
Phone: +49 25 74 88 88 - 810
Email: [email protected]