Press releases

Results 9M 2016
(without considering the disclosure of discontinued operations as required under IFRS 5)

 

ZhongDe Wastes technology AG: Fast progress of BOT project in Lanzhou led to strongly improved revenues in the third quarter 2016

 

  • Revenues of 52.3 million euros in the first nine months 2016 mainly due to fast progress of BOT project in Lanzhou
  • Sale of subsidiary "Chung Hua" to Capital Yield Group Limited in October
  • Revision of guidance: Negative EBITDA expected for 2016 but positive impact from sale of “Chung Hua” in financial year 2017

 

Frankfurt, 28 November 2016

In the first nine months of 2016 ZhongDe made further progress on its main BOT project in Lanzhou, which resulted in strongly improved revenues. Furthermore, the sale of the subsidiary “Chung Hua” in October 2016 will have a significant positive effect on ZhongDe’s financial results in 2017.

 

Due to the fast progress of works of the BOT project in Lanzhou, total revenues of the Group increased significantly to 52.3 million euros (9M 2015: 10.3 million euros) in the first nine months of 2016. Revenues were almost exclusively contributed by the BOT project in Lanzhou.

 

Gross profit of ZhongDe improved to -0.7 million euros (9M 2015: -1.4 million euros). The main reasons for the still negative gross result are – as already in the previous year – the necessary depreciations on inventories and the continuous slow progress of the EPC projects. As the BOT projects are still accounted under the zero-profit-method, the increased stage of completion of the BOT project in Lanzhou has no influence on the gross result.

 

EBIT increased to 2.0 million euros (9M 2015: -4.1 million euros). Net loss decreased to -0.7 million euros compared to -6.7 million euros in the same period 2015.

 

Mainly due to foreign currency translation effects ZhongDe’s equity position declined by 5.9 per cent to 98.4 million euros as at 30 September 2016 (31 December 2015: 104.6 million Euros). Accordingly, equity ratio went down to 30.2 per cent (31 December 2015: 36.6 per cent).

 

As at 30 September 2016 cash and cash equivalents increased to 84,3 million euros from 75.8 million euros as at 31 December 2015.

 

In October 2016 ZhongDe Waste Technology sold all shares of its wholly owned subsidiary Chung Hua Environment Protection (Holding) Group Ltd., Hong Kong ("Chung Hua") to the Capital Yield Group Limited for approximately 122 million euros. The first tranche of the purchase price amounting to 12.0 million Euros was already paid in November. Chung Hua and its subsidiaries comprise the BOT projects in Lanzhou, Zhoukhou, Xianning and Kunming as well as the EPC project in Zhucheng, which accordingly will be sold to the buyer.

 

Adjusted outlook – negative EBITDA expected in 2016 but improved financial results presumed for 2017

Regarding the full-year 2016, ZhongDe confirms for the most part of its outlook given in the half-year report 2016 except for the EBITDA prognosis. 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. In total, ZhongDe anticipates an extraordinary profit for 2017 resulting from the sale of Chung Hua. This will have a significant positive effect on ZhongDe’s results in 2017.

 

Please find the complete 9M interim statement 2016 of ZhongDe Waste Technology AG on the company’s website under the following link:
http://www.zhongde-ag.com/investor_relations/publikationen.html

 

 

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

Overview

28 November 2016

ZhongDe Wastes technology AG: Fast progress of BOT project in Lanzhou led to strongly improved revenues in the third quarter 2016


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27 October 2016

ZhongDe Waste Technology AG: New members of the Supervisory Board


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30 August 2016

ZhongDe Waste Technology AG: Project in Lanzhou continues progressing rapidly


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27 May 2016

ZhongDe Waste Technology AG: Rapid progress of main BOT project in Lanzhou resulted in strong revenue growth


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29 April 2016

ZhongDe Group: Improved project progress in 2015 but earnings impacted by extraordinary effects


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27 November 2015

Adverse external and internal effects slow down ZhongDe’s project progress


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28 August 2015

ZhongDe Waste Technology AG expects improved project progress for the second half of 2015


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28 May 2015

ZhongDe Waste Technology AG: Strong revenue increase reflects continuous project progress


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29 April 2015

ZhongDe Waste Technology AG: Remarkable project progress led to improved financial performance in 2014


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28 November 2014

ZhongDe Waste Technology AG: Strong year-on-year improvement of financial re-sults in the first nine months 2014


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28 August 2014

ZhongDe Waste Technology AG: Half-year results show slight recovery year-on-year


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28 May 2014

ZhongDe Waste Technology AG: Project progress not reflected in Q1 2014 results


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29 April 2014

ZhongDe Waste Technology AG: Successful sale of manufacturing site led to increase in EBIT and net result


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23 December 2013

ZhongDe Waste Technology AG signed contract to sell Beijing Miyun manufacturing site


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28 November 2013

ZhongDe Waste Technology AG: Weak business development despite increased order backlog


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28 August 2013

ZhongDe Waste Technology AG: Improved but still weak financial resultsin H1 2013 despite increased order backlog


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28 June 2013

ZhongDe Waste Technology AG signs EPC contract for new energy-from-waste plant in Wuhai


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28 May 2013

ZhongDe Waste Technology AG: First quarter 2013 shows improved year-on-year results


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29 April 2013

ZhongDe Waste Technology AG: Challenging circumstances adversely affect results 2012


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30 November 2012

ZhongDe Waste Technology AG: Financial results benefit from positive one-off effects in the third quarter 2012


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23 October 2012

ZhongDe Waste Technology signs BOT contract for largest waste-to-energy plant in China


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30 August 2012

ZhongDe Waste Technology AG: Financial results impacted by further project delays


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29 August 2012

Changes in the Supervisory Board of ZhongDe Waste Technology AG


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31 July 2012

ZhongDe Waste Technology AG: Difficult start into financial year 2012


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23 July 2012

Interview with Börsen Radio Network


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17 July 2012

ZhongDe Waste Technology AG: Weak 2011 results due to project delays


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30 April 2012

ZhongDe Waste Technology AG: Publication of Annual Report 2011 delayed


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30 November 2011

ZhongDe Waste Technology AG: Revenues and gross profit improve while EBIT and net profit decline


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14 September 2011

ZhongDe Waste Technology AG relocates legal domicile from Hamburg to Frankfurt


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31 August 2011

ZhongDe Waste Technology AG: Audited H1 2011 results


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31 May 2011

ZhongDe Waste Technology AG: Q1 results show positive trend


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26 May 2011
ZhongDe Waste Technology AG: State Council of China strengthens municipal waste treatment industry
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20 May 2011

ZhongDe Waste Technology AG: Feicheng BOO project passes emission test


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2 May 2011
ZhongDe Waste Technology AG: Strong order backlog, equity and cash position despite slight net loss in 2010
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24 February 2011
ZhongDe Waste Technology AG: Final gross profit rate of Datong EPC project of 26.6%
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30 December 2010
ZhongDe Waste Technology AG: Completion of Feicheng project construction
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30 November 2010
ZhongDe Waste Technology AG: Strong order backlog and cash position despite revenue decrease
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19 November 2010
ZhongDe Waste Technology AG: Change in Supervisory Board
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10 November 2010
ZhongDe Waste Technology AG signed financial leasing contracts of two BOT projects
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30 August 2010
ZhongDe Waste Technology AG: Better Performance of Q2 2010 vs. Q2 2009
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27 August 2010
ZhongDe Waste Technology AG: BNY Mellon has been appointed as Depositary Bank for ADR program
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19 July 2010
ZhongDe Waste Technology AG moves Offices from Hamburg
to Frankfurt am Main
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4 June 2010
ZhongDe Waste Technology AG signs EPC contract with Shouguang Fuyuan Waste to Power Co., Ltd
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28 May 2010
ZhongDe Waste Technology AG: Weak Q1 financials due to difficult weather and market conditions
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30 April 2010
ZhongDe Waste Technology AG: Strong order backlog after strategic shift
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12 February 2010
ZhongDe Waste Technology AG: Successful operation of Datong Project
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30 December 2009
ZhongDe Waste Technology AG signs agreement to increase contract amount of Datong Project
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30 December 2009
ZhongDe Waste Technology AG signs EPC contract with Dingzhou Ruiquan Solid Waste Treatment Co., Ltd
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30 November 2009
ZhongDe Waste Technology AG presents its financial results for Q3 2009
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7 September 2009
ZhongDe Waste Technology AG signs Letter of Intent with Covanta Energy Asia Pacific Holdings Ltd.
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31 August 2009
ZhongDe Waste Technology AG adjusted strategy for future growth in 2009
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3 August 2009
ZhongDe Waste Technology AG Annual General Meeting adopts dividend
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30 July 2009
ZhongDe Waste Technology AG signs letter of intent with ThyssenKrupp Xervon Energy
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20 July 2009
ZhongDe Waste Technology AG signs contract for waste incineration plant in Zhaodong City
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10 June 2009
ZhongDe Waste Technology AG announces to postpone its Annual General Meeting
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29 May 2009
ZhongDe Waste Technology AG presents its financial results for Q1 2009
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30 April 2009
ZhongDe Waste Technology AG maintains high growth rates
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20 April 2009
ZhongDe Waste Technology AG announces signing of two large-size BOT projects
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6 April 2009
ZhongDe Waste Technology AG signs Letter of Intent on Renewable Energy Projects for Electricity Generation in Jilin, PRC
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3 February 2009
ZhongDe Waste Technology AG announces strategic cooperation agreement with Genesis Energy Holdings Limited
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23 January 2009
ZhongDe Waste Technology AG signs contract with Zhucheng Baoyuan New Energy Power Generation Co., Ltd
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29 December 2008
ZhongDe Waste Technology AG announces change in the Supervisory Board
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28 November 2008
ZhongDe Waste Technology AG reports continued healthy growth in Q3 2008
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10 November 2008
ZhongDe Waste Technology AG expects continuous growth and confirms initial estimation for financial year 2008
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30 September 2008
ZhongDe Waste Technology AG expects continuous growth and confirms initial estimation for financial year 2008
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29 August 2008
ZhongDe Waste Technology AG reports continuous growth in Q2 2008
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30 June 2008
ZhongDe Waste Technology AG announces cooperation agreement with Veolia
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16 June 2008
ZhongDe Waste Technology AG announces signing of Lianshui BOO project
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30 May 2008
ZhongDe Waste Technology AG reports strong growth in Q1 2008
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29 April 2008
ZhongDe Waste Technology AG presents its audited full year results for fiscal year 2007: net profit more than doubled – order intake increased by 90% to €44.4 million
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7 April 2008
ZhongDe Waste Technology AG announces signing of Xinjiang BOT project
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18 March 2008
ZhongDe Waste Technology AG releases preliminary results for fiscal year 2007: net profit more than doubled - order intake increased by 90% to €44.4 million
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11 March 2008
ZhongDe Waste Technology AG signs contract for large scale waste incinerator plant
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28 November 2007
ZhongDe Waste Technology AG continues to grow in Q3 2007
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19 September 2007
ZhongDe Waste Technology AG secures land usage rights in Beijing – headstone for building a second production facility
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28 August 2007
ZhongDe Waste Technology AG presents strong performance in H1 2007
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9 August 2007
ZhongDe Waste Technology AG announces signing of two BOT projects
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12 July 2007
ZhongDe Waste Technology AG: Greenshoe option exercised in full
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5 July 2007
ZhongDe Waste Technology AG sets offer price and issue volume
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28 June 2007
ZhongDe Waste Technology AG: Price range between Euro 23 and Euro 26
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25 June 2007
ZhongDe Waste Technology AG launches its Initial Public Offering on the Prime Standard in Frankfurt
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14 June 2007
ZhongDe Waste Technology AG planning IPO in July 2007
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