Press releases
ZhongDe Waste Technology AG: Weak Q1 financials due to difficult weather and market conditions
Hamburg, 28 May 2010
Revenue decreased by 65.9% to € 3.7 million
EBIT € -1.7 million after € 4.2 million in Q1 2009
Order backlog of € 157.8 million; +17.1% vs. Q1 2009
The first quarter of 2010 of ZhongDe Waste Technology AG ("ZhongDe", "the Company", Ticker symbol "ZEF") was influenced by a difficult market environment, especially the bad weather conditions for EPC and BOT plant construction work. Revenues decreased by 65.9% year-on-year to € 3.7 million in 1 2010. Earnings before interest and tax (EBIT) decreased to € -1.7 million (Q1 2009: € 4.2 million) while net profit fell to € -2.0 million (Q1 2009: € 2.3 million). The order backlog amounted € 157.8 million and exceeds the Q1 2009 figure by € 23.0 million, or 17.1%.
The Q1 2010 revenues were generated solely in the BOT segment. We are currently focusing on large-scale waste-to-energy facilities, because the small- to medium-size incinerators market has not yet recovered in China. Since ZhongDe's EPC and BOT construction-in-progress projects are located in Northern China, we had to interrupt construction work on these projects during the period of extremely cold weather conditions in the first quarter of 2010 and during the Chinese Spring Festival vacation. Meanwhile, we focused on the marketing and negotiation of potential waste-to-energy project contracts.
The first large-sized waste-to-energy project of ZhongDe - the Datong EPC project - is operating smoothly. The celebration of successful finish and smooth operation of Datong waste-to-energy plant will be held by the owner at the end of June 2010 and the officials from central government and provincial authorities will attend.
Because of the foreign exchange differences, ZhongDe's equity increased by € 4.8 million to € 129.9 million and cash position improved by 2.3% from € 109.2 million at the end of Q1 2009 to € 111.7 million at the end of Q1 2010. The Company maintains a very strong equity ratio of 89.3%. With the strong cash position and equity ratio, ZhongDe Group maintains its flexibility on the background of the remaining influence of the international financial crisis and the economic turmoil. ZhongDe had no bank debts in Q1 2010, but is currently negotiating bank loans with several banks in connection with the financing of large-scale BOT projects.
While the order intake was zero, the order backlog amounts to € 157.8 million and includes three EPC projects (Zhucheng, Zhaodong and Dingzhou) and four BOT projects (Zhoukou, Feicheng, Xianning and Kunming).
CEO Mr. Zefeng Chen comments: "Although this is the first quarterly loss in ZhongDe's history because of the extremely cold weather in China, the three EPC and four BOT projects in the order backlog will be finished according to the timetable. We realize that the future has plenty of risks and challenges, our management team is confident that we can continue taking advantage of the huge market potential in the Chinese and international waste-to-energy market to create values for our shareholders."
About ZhongDe Group
ZhongDe Group designs, manufactures and installs pyrolytic, grate and rotary kiln waste incinerators for the disposal of solid municipal, industrial (including hazardous) and medical waste, as well as complete sets of incineration plants with electricity generation. Since 1996, ZhongDe Group has installed approximately 200 waste incinerators in about 13 provinces and more than 80 waste incinerators in the last three financial years alone. ZhongDe Group acts as one of the leading players of large-size Waste-to-Energy industry in China.
Contact
William Jiuhua Wang
Executive Director and CFO
Phone: +86 (10) 885 98 010
E-Mail: william.jw@zhongdetech.com
Li Zhong (Linda)
Investor Relations Manager
Stadthausbrücke 1 - 3
20355 Hamburg
Germany
Phone: +49 (0) 40 37644 756
Fax: +49 (0) 40 37644 500
E-Mail: li.zhong@zhongde-ag.de
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
Details
30 August 2016
ZhongDe Waste Technology AG: Project in Lanzhou continues progressing rapidly
Details
27 May 2016
ZhongDe Waste Technology AG: Rapid progress of main BOT project in Lanzhou resulted in strong revenue growth
Details
29 April 2016
ZhongDe Group: Improved project progress in 2015 but earnings impacted by extraordinary effects
Details
28 August 2015
ZhongDe Waste Technology AG expects improved project progress for the second half of 2015
Details
28 May 2015
ZhongDe Waste Technology AG: Strong revenue increase reflects continuous project progress
Details
29 April 2015
ZhongDe Waste Technology AG: Remarkable project progress led to improved financial performance in 2014
Details
28 November 2014
ZhongDe Waste Technology AG: Strong year-on-year improvement of financial re-sults in the first nine months 2014
Details
28 August 2014
ZhongDe Waste Technology AG: Half-year results show slight recovery year-on-year
Details
29 April 2014
ZhongDe Waste Technology AG: Successful sale of manufacturing site led to increase in EBIT and net result
Details
23 December 2013
ZhongDe Waste Technology AG signed contract to sell Beijing Miyun manufacturing site
Details
28 November 2013
ZhongDe Waste Technology AG: Weak business development despite increased order backlog
Details
28 August 2013
ZhongDe Waste Technology AG: Improved but still weak financial resultsin H1 2013 despite increased order backlog
Details
28 June 2013
ZhongDe Waste Technology AG signs EPC contract for new energy-from-waste plant in Wuhai
Details
28 May 2013
ZhongDe Waste Technology AG: First quarter 2013 shows improved year-on-year results
Details
29 April 2013
ZhongDe Waste Technology AG: Challenging circumstances adversely affect results 2012
Details
30 November 2012
ZhongDe Waste Technology AG: Financial results benefit from positive one-off effects in the third quarter 2012
Details
23 October 2012
ZhongDe Waste Technology signs BOT contract for largest waste-to-energy plant in China
Details
30 August 2012
ZhongDe Waste Technology AG: Financial results impacted by further project delays
Details
30 November 2011
ZhongDe Waste Technology AG: Revenues and gross profit improve while EBIT and net profit decline
Details
14 September 2011
ZhongDe Waste Technology AG relocates legal domicile from Hamburg to Frankfurt
Details
26 May 2011
ZhongDe Waste Technology AG: State Council of China strengthens municipal waste treatment industry
Details
2 May 2011
ZhongDe Waste Technology AG: Strong order backlog, equity and cash position despite slight net loss in 2010
Details
24 February 2011
ZhongDe Waste Technology AG: Final gross profit rate of Datong EPC project of 26.6%
Details
30 December 2010
ZhongDe Waste Technology AG: Completion of Feicheng project construction
Details
30 November 2010
ZhongDe Waste Technology AG: Strong order backlog and cash position despite revenue decrease
Details
19 November 2010
ZhongDe Waste Technology AG: Change in Supervisory Board
Details
10 November 2010
ZhongDe Waste Technology AG signed financial leasing contracts of two BOT projects
Details
30 August 2010
ZhongDe Waste Technology AG: Better Performance of Q2 2010 vs. Q2 2009
Details
27 August 2010
ZhongDe Waste Technology AG: BNY Mellon has been appointed as Depositary Bank for ADR program
Details
19 July 2010
ZhongDe Waste Technology AG moves Offices from Hamburg
to Frankfurt am Main
Details
4 June 2010
ZhongDe Waste Technology AG signs EPC contract with Shouguang Fuyuan Waste to Power Co., Ltd
Details
28 May 2010
ZhongDe Waste Technology AG: Weak Q1 financials due to difficult weather and market conditions
Details
30 April 2010
ZhongDe Waste Technology AG: Strong order backlog after strategic shift
Details
12 February 2010
ZhongDe Waste Technology AG: Successful operation of Datong Project
Details
30 December 2009
ZhongDe Waste Technology AG signs agreement to increase contract amount of Datong Project
Details
30 December 2009
ZhongDe Waste Technology AG signs EPC contract with Dingzhou Ruiquan Solid Waste Treatment Co., Ltd
Details
30 November 2009
ZhongDe Waste Technology AG presents its financial results for Q3 2009
Details
7 September 2009
ZhongDe Waste Technology AG signs Letter of Intent with Covanta Energy Asia Pacific Holdings Ltd.
Details
31 August 2009
ZhongDe Waste Technology AG adjusted strategy for future growth in 2009
Details
3 August 2009
ZhongDe Waste Technology AG Annual General Meeting adopts dividend
Details
30 July 2009
ZhongDe Waste Technology AG signs letter of intent with ThyssenKrupp Xervon Energy
Details
20 July 2009
ZhongDe Waste Technology AG signs contract for waste incineration plant in Zhaodong City
Details
10 June 2009
ZhongDe Waste Technology AG announces to postpone its Annual General Meeting
Details
29 May 2009
ZhongDe Waste Technology AG presents its financial results for Q1 2009
Details
30 April 2009
ZhongDe Waste Technology AG maintains high growth rates
Details
20 April 2009
ZhongDe Waste Technology AG announces signing of two large-size BOT projects
Details
6 April 2009
ZhongDe Waste Technology AG signs Letter of Intent on Renewable Energy Projects for Electricity Generation in Jilin, PRC
Details
3 February 2009
ZhongDe Waste Technology AG announces strategic cooperation agreement with Genesis Energy Holdings Limited
Details
23 January 2009
ZhongDe Waste Technology AG signs contract with Zhucheng Baoyuan New Energy Power Generation Co., Ltd
Details
29 December 2008
ZhongDe Waste Technology AG announces change in the Supervisory Board
Details
28 November 2008
ZhongDe Waste Technology AG reports continued healthy growth in Q3 2008
Details
10 November 2008
ZhongDe Waste Technology AG expects continuous growth and confirms initial estimation for financial year 2008
Details
30 September 2008
ZhongDe Waste Technology AG expects continuous growth and confirms initial estimation for financial year 2008
Details
29 August 2008
ZhongDe Waste Technology AG reports continuous growth in Q2 2008
Details
30 June 2008
ZhongDe Waste Technology AG announces cooperation agreement with Veolia
Details
16 June 2008
ZhongDe Waste Technology AG announces signing of Lianshui BOO project
Details
30 May 2008
ZhongDe Waste Technology AG reports strong growth in Q1 2008
Details
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
Details
7 April 2008
ZhongDe Waste Technology AG announces signing of Xinjiang BOT project
Details
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
Details
11 March 2008
ZhongDe Waste Technology AG signs contract for large scale waste incinerator plant
Details
28 November 2007
ZhongDe Waste Technology AG continues to grow in Q3 2007
Details
19 September 2007
ZhongDe Waste Technology AG secures land usage rights in Beijing – headstone for building a second production facility
Details
28 August 2007
ZhongDe Waste Technology AG presents strong performance in H1 2007
Details
9 August 2007
ZhongDe Waste Technology AG announces signing of two BOT projects
Details
12 July 2007
ZhongDe Waste Technology AG: Greenshoe option exercised in full
Details
5 July 2007
ZhongDe Waste Technology AG sets offer price and issue volume
Details
28 June 2007
ZhongDe Waste Technology AG: Price range between Euro 23 and Euro 26
Details
25 June 2007
ZhongDe Waste Technology AG launches its Initial Public Offering on the Prime Standard in Frankfurt
Details
14 June 2007
ZhongDe Waste Technology AG planning IPO in July 2007
Details