Ad-hoc-News
Release of an Ad hoc announcement according to Sec. 15, German Securities Trading Act (WpHG)
ZhongDe Waste Technology AG: Financial performance 2010 impacted by delay of construction progress of energy-from-waste projects
Frankfurt, 15 April 2011
ZhongDe Waste Technology AG ("ZhongDe", "the Company", Ticker symbol "ZEF"), a well-known player in the project development and operation of large-scale energy-from-waste plants in China, realized a small net loss for full year 2010 (2009: EUR 5.7 million).
This result reflects the delay of construction progress of current large-scale energy-from-waste projects due to the delay of local government approvals.
Due to the project delays, ZhongDe also expects the Q1 2011 results to be below the results of Q1 2010.
However, in March 2011, Mr. Wen Jiabao, China's Prime Minister, announced political measures to support the energy-from-waste plant construction in China, which will accelerate the local government approvals.
So ZhongDe's management team is confident to be able to significantly improve the financial performance in the coming quarters of 2011.
Contact
William Jiuhua Wang
Executive Director and CFO
E-Mail: william.jw@zhongdetech.com
Ying Sun
Assistant IR Manager
Herriotstr. 1,
60528 Frankfurt am Main
T: +49 69 67733 172
F: +49 69 67733 200
E-Mail: ying.sun@zhongde-ag.de
Kirchhoff Consult AG
Nicole Schüttforth
Investor Relations Consultant
T: +49 40 60 91 86 64
F: +49 40 60 91 86 60
E-Mail: nicole.schuettforth@kirchhoff.de
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