Schmack Biogas AG / Final Results
24.04.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Schmack Biogas presents final figures for 2007
- Sales rise 50% to EUR 135.2 million
- Orders on hand up from EUR 78.4 million to EUR 115.9 million
- EBIT as expected at EUR -9.6 million
- Business to improve from mid-2008
Schwandorf, 24 April 2008. Schmack Biogas AG, a leading German supplier of
biogas plants, reported a 50% increase in sales revenues to EUR 135.2
million (previous year: EUR 90.0 million), which enabled the company to
clearly expand its market share in a declining market. At approx. 90%, the
Planning and Construction Division made the biggest contribution to sales
as in the previous fiscal year. As of 31 December 2007, orders on hand were
up by approx. 48% on the previous years EUR 78.4 million to EUR 115.9
million. As announced at the presentation of the preliminary figures, EBIT
stood at EUR -9.6 million, compared to EUR 4.4 million in the previous
year. The result for the year amounted to EUR -6.6 million, compared to EUR
1.4 million in 2006. This represents earnings per share of EUR -1.23
(previous year: EUR 0.36).
'2007 did not turn out as we had expected,' said CEO Ulrich Schmack.
'Besides the increased feedstock prices, the shift in our plant technology
to large-scale plants and catch crops primarily weighed on our result.
Against this background, business will remain very weak in the first six
months of 2008. We expect an upward trend from mid-year. 2008 will be a
year of transition for Schmack Biogas AG, which should be followed by a
clearly improved performance from 2009.'
In March 2008, the Federal Cabinet officially adopted the Gas Grid Access
Regulations (GasNZV), which will greatly facilitate the feeding of biogas
into the existing gas grid. At the same time, the gas grid operators must
bear certain costs that used to be paid by the biogas producers. Schmack
Biogas expects the Regulations to initiate a clear upward trend for the
biogas industry, as the margin for gas feed-in projects will increase
significantly. 'We introduced this technology at an early stage,' says
Ulrich Schmack. 'The majority of the successful gas feed-in projects in
Germany use our technology and it is the only way to fully benefit from
the new regulations.'
Schmack Biogas also plans to increase the efficiency of its internal
structures with a view to cutting costs. The product and process
standardisation as well as the integration of the recently acquired
subsidiaries have clearly progressed. Schmack Biogas expects these measures
to result in potential cost savings of roughly EUR 2 million in the current
fiscal year.
Schmack Biogas AG:
Schmack Biogas AG is a leading German supplier of biogas plants.
Established in 1995, the company provides its services through two
divisions, namely Planning and Construction and Plant Management and
Service, and is one of the few full-service providers in the industry.
Apart from technical support, the company focuses on comprehensive
microbiological service.
Through its subsidiary, Schmack Energie Holding, the company now also
operates its own plants and markets the biogas produced as well as the
electricity and heat generated. To date, Schmack Biogas has built 221
plants with a combined nominal output of approx. 75 MW.
Schmack Biogas AG
Markus Meyr
Phone: +49 (0) 9431 / 751-111
markus.meyr@schmack-biogas.com
Haubrok Investor Relations GmbH
Michael Müller, Linh Chung
Phone: +49 (0) 211 / 30126-106
m.mueller@haubrok.de
DGAP 24.04.2008 ---------------------------------------------------------------------------
Language: English
Issuer: Schmack Biogas AG
Bayernwerk 8
92421 Schwandorf
Deutschland
Phone: +49 (0)9431 / 751-0
Fax: +49 (0)9431 / 751-204
E-mail: info@schmack-biogas.com
Internet: www.schmack-biogas.com
ISIN: DE000SBGS111
WKN: SBGS11
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: Schmack Biogas AG: Schmack Biogas presents final figures for 2007
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