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

In 2019, EnviTec Biogas AG (ISIN: DE000A0MVLS8) reported one of the best financial years in the company’s history. With a significant increase in sales and total output, profitability based on EBITDA and EBIT also increased again.

In the Group’s largest segment, Own Plant Operation, sales fell by 3.7% to EUR 110.3 million, while total operating revenue decreased by 3.8% to EUR 114.7 million. Revenue in the Services segment rose by 24.5% to EUR 48.2 million. Total output, which also takes into account the change in the portfolio of repowering and flexibilisation projects under construction, grew by 6.7% to EUR 45.3 million. In the Plant Construction segment, sales rose by 64.2% to EUR 55.1 million with a significant increase in capacity utilization, while total operating performance increased by 38.5% to EUR 42.6 million. The development of the segments resulted in a 14.3% increase in consolidated sales revenues to EUR 213.6 million (previous year: EUR 186.8 million). Total output rose by 5.2% to 202.6 million euros.

Based on continued high profitability in Own Plant Operation, the positive segment result in Service (before consolidation for internal sales) and the significant improvement in earnings in Plant Construction, earnings before interest, taxes, depreciation and amortization (EBITDA) came to EUR 30.2 million (2018: EUR 27.3 million). The record EBITDA of the previous year was thus once again exceeded. Earnings before interest and taxes (EBIT) improved from EUR 10.1 million to EUR 13.1 million in fiscal year 2019. At EUR 10.3 million, the result from ordinary activities was slightly below the previous year’s level of EUR 10.4 million. Consolidated net income improved from Euro 6.8 million to Euro 7.3 million. Earnings per share amounted to Euro 0.49 (previous year: Euro 0.46).

In the individual financial statements of the AG, the balance sheet profit amounted to 36.1 million Euro. The Executive Board and the Supervisory Board of EnviTec Biogas AG propose to pay a dividend of EUR 1.00 per share again for the fiscal year 2019.

At 56.8%, the equity ratio remained at a solid level (31 December 2018: 57.5%). The number of employees rose from 427 to 433 as of the reporting date 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, EUR 61.2 million was already under construction and partly included in changes in inventories.

Jörg Fischer, CFO of EnviTec Biogas AG: “We again closed the past fiscal year very successfully. Particularly noteworthy is the positive trend in the Plant Construction segment, which has continued so far in the current fiscal year. We are also very satisfied with the performance of the service segment and Own Plant Operation. Our efforts to use biomethane as a low CO2 fuel in the transport sector are also slowly bearing fruit. However, it would be desirable, particularly in Germany in the current crisis, for clear political decisions to be taken in favour of a further turnaround in transport and energy, so that the energy sources biogas and biomethane can continue to make a sustainable contribution to climate protection targets in the future.

In the current fiscal year 2020, EnviTec, as a leading integrated biogas all-rounder, considers itself well prepared to survive the consequences of the corona pandemic largely unscathed. The new year has got off to a very successful start in all business segments, with only moderate impairments of business operations so far. Nevertheless, additional impairments could result if the restrictive access and travel restrictions in the course of the corona pandemic are again significantly extended over a longer period of time. The EnviTec management currently considers the scenario of further relaxed or moderate access and travel restrictions to be more realistic and assumes that the Group’s total output (or sales revenues) in the fiscal year 2020 will be at the prior-year level. The EnviTec Executive Board also expects the result from ordinary activities (EBT) to reach the prior-year level.

The complete 2019 Annual Report is available at: https://www.envitec-biogas.de/unternehmen/investor-relations/ir-publikationen/finanzberichte