Sunday, May 22, 2011

EnviTec Biogas reports positive business performance for 2010 - Your Renewable News (press release)

The manufacturer of biogas plants Envitec Biogas improved its sales revenues from quarter to quarter and generated EUR 47.7 million in the last three months of 2010, which is a record in the company’s history.


Total sales revenues increased by 23.4% from EUR 119.9 million to EUR 148.0 million. The company’s international activities showed a particularly positive trend, with sales from the construction of biogas plants abroad rising from EUR 21.2 million to EUR 43.7 million in the past fiscal year. This represents an increase by 106.1%. International sales accounted for 31.8% of total Group sales, up from 17.7% in the previous year. EnviTec Biogas reported a turnaround in earnings and generated earnings before interest and taxes (EBIT) of EUR 1.0 million (previous year: EUR -0.5 million). A better result was prevented by non-recurrent effects of EUR 3.4 million in the Plant Construction segment. The Group’s net income for the year climbed from EUR 1.3 million to EUR 2.3 million, while earnings per share rose from EUR 0.08 to EUR 0.15.

EnviTec will continue to expand its Own Plant Operation activities in the future, which generate high margins. The company intends to take biogas plants with an electrical output of roughly 12 MW into service in 2011 and 2012 each, which will more than double the existing
capacity. EnviTec has obtained the first approvals for its own biogas plants in Italy. Construction of the first plants could commence before the end of 2011, as soon as the necessary project loans have been raised.

Source: Renewable Energy Industry

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