Schmack Biogas AG / Preliminary Results
25.02.2008
Release of an Ad hoc announcement according to § 15 WpHG, 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 reports preliminary figures for fiscal year 2007:
- Sales increase by approximately 47% to roughly EUR 132 million
- Orders on hand increase by approximately 48% to roughly EUR 116 million
- EBIT is approximately minus EUR 9.6 million
Schwandorf, February 25, 2008. Schmack Biogas AG and the entire biogas
industry look back on a difficult year 2007. Even so, accordingly to the
preliminary figures for the fiscal year 2007, Schmack generated sales of
approximately EUR 132 million and thus year-on-year achieved growth of
approximately 47%. The company thus clearly exceeded the overall trend for
2007 in the biogas industry and sees its strategic alignment confirmed. As
of 31 December 2007, orders on hand were approximately EUR 116 million,
almost 48% up on the comparable figure of the previous year of EUR 78.4
million. According to the preliminary results, EBIT totals approximately
EUR -9.6 million, thus below the last forecast of EUR -6 million.
The EBIT deviation is due to the weak demand in the agricultural sector
which has already been reported. In addition, some sales and earnings for
projects and project development services which were planned for 2007 will
be generated in 2008.
Due to the earnings trend in 2007 and the wait-and-see stance adapted by
customers due to pending legal changes, alongside the product and process
standardisation which has been implemented, the Management Board will take
significant measures to reduce costs. Key savings are to be expected in the
area of procurement costs and in the entire fixed cost block.
After a difficult first six months, the company expects a more positive
trend in the second half of 2008 and a strong upward trend in 2009. For the
current fiscal year, Schmack Biogas anticipates a further upturn in sales
and is targeting considerably improved EBIT. The expectation is based not
only on the more streamlined cost structure, but also the considerably
improved new regulation relating to gas grid access ordinance and the
planned increase of the compensation paid under the Renewable Energies Act.
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 mainly together with joint venture
partners. To date, Schmack Biogas has built 204 plants with a combined
nominal output of approx. 61 MW.
Contact:
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 25.02.2008
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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-Adhoc: Schmack Biogas reports preliminary figures for fiscal year 2007
| Source: EQS Group AG