Ad-hoc-News

Public disclosure of inside information pursuant to Article 17 MAR

 

ZhongDe Waste Technology AG revises guidance

 

Frankfurt, November 24, 2016

On the basis preliminary calculations for 9M 2016 and the current business development, ZhongDe revises its full year 2016 outlook. Mainly due to an increase of bad debt allowances amounting to 4.0 million Euros, the full-year EBITDA of the group is expected to remain negative. In the half-year report the Management Board had still confirmed the outlook given in the annual report 2015 predicting that EBITDA will turn into positive due to a rapid revenue growth in 2016. All other aspects of the outlook 2016 remain unchanged.

 

For 2017 the Management expects a positive impact from the sale of ZhongDe’s subsidiary Chung Hua to the CAPITAL YIELD GROUP LIMITED in October 2016. The first tranche of the purchase price amounting to 12.0 million Euros was already paid. The remaining payment of around 110.0 millions Euros is due until Q1 2017. Accordingly, ZhongDe anticipates a significant positive effect on the financial results in 2017.

 

ZhongDe will present its Q3 interim statement on November 28, 2016.

 

 

About ZhongDe Group

ZhongDe Group designs, invests, constructs, finances and operates energy-from-waste plants generating electricity from the incineration of solid municipal and industrial waste. ZhongDe realizes either EPC (Engineering, Procurement and Construction) or BOT (Build, Operate and Transfer) projects, focusing on large-scale plants with waste disposal capacities of around 1,000 tons per day. Since 1996, ZhongDe Group has installed approximately 200 waste incinerators in 13 provinces throughout China. ZhongDe is one of the leading players in the project development and operation of energy-from-waste plants in China.

 

Contact

ZhongDe Waste Technology AG

Messeturm 25th floor
Friedrich-Ebert-Anlage 49
60308 Frankfurt
Tel.: +49 (0) 69 50956 5655
Fax: +49 (0) 69 50956 5520
Email: david@zhongdetech.com

 

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