Press releases
ZhongDe Waste Technology AG: Strong order backlog, equity and cash position despite slight net loss in 2010
Frankfurt, May 02, 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 net loss for the full year 2010 of EUR 0.9 million (vs. EUR 5.7 million net profit in 2009). Revenues in 2010 decreased by 16.9% to EUR 33.4 million while the EBIT regressed by 88.5% to EUR 0.9 million.
The net loss and decreased revenues in 2010 were caused by the delay in the construction progress of ZhongDe's energy-from-waste projects due to the retard of local government approvals as well as by declining revenues in the field of energy-from-waste plants. Despite the challenging circumstances, the strong order backlog, equity and cash of ZhongDe indicate the Company's potential.
Strong order backlog indicates potential revenue increase
The order backlog at the end of 2010 amounted to EUR 157.8 million, an increase of 4.4% against 2009. The backlog includes four EPC projects (Shouguang, Zhucheng, Zhaodong and Dingzhou) and four BOT projects (Feicheng, Zhoukou, Xianning and Kunming). Although more cash was invested in the construction of these projects, ZhongDe's cash position was still very strong and amounted to EUR 106.5 million. The total assets increased by 18.6% to EUR 168.6 million, while the total equity increased by 8.4% to EUR 135.6 million. "The order backlog is regarded as a strong indication of our potential to increase revenues and net profits during the coming years", says Zefeng Chen, founder and CEO of ZhongDe Waste Technology AG. Due to the strong cash position, retained earnings and optimistic forecast of ZDWT in 2011, the executive board and the supervisory board propose the distribution of a dividend of EUR 0.15 per share to the shareholders. The proposal is subject to the approval at the Annual General Meeting in June 2011.
Outlook
In 2011, the new political measures announced by the central government to support the energy-from-waste plant construction, will accelerate the approval process of the local government in China. Hence the ZhongDe management team has confidence to complete two projects (Zhoukou, Zhucheng) by the end of 2011 and three further projects (Kunming, Dingzhou and Xianning) in 2012, according to the adjusted schedule. In addition, at least one EPC project and one BOT project are going to be signed in the course of 2011. The scheduled waste disposal capacity of the new projects is not less than 1,000 tons per day, each.
Although ZhongDe performance in Q1 2011 is weak, the Company expects its sales and profit levels in 2011 and 2012 to be higher than those of 2010, because governments of China accelerates its approvals of energy-from-waste projects due to the new policies. The order backlog worth € 157.8 million as at 31 December 2010 forms the foundations of ZhongDe's growth targets. "Although we realize, that there are still risks and challenges in the future, the ZhongDe management team is confident that ZhongDe has the financial strength and expertise to keep ZhongDe's growth steady and sustainable in the new decade. We can continue to take advantage of the enormous potential in the Chinese and international energy-from-waste market and create more value for the Company and our shareholders", says Mr. Chen.
About ZhongDe Group
ZhongDe Group designs, constructs, finances and operates energy-from-waste incineration plants generating electricity from the disposal of solid municipal and industrial waste. ZhongDe realises 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 and more than 80 waste incinerators in the last three financial years alone. ZhongDe is one of the leading players in the project development and operation of large-size energy-from-waste plants in China.
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
T: +49 40 60 91 86 64
F: +49 40 60 91 86 60
E-Mail: nicole.schuettforth@kirchhoff.de
Overview
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28 August 2014
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29 April 2014
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23 December 2013
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28 November 2013
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28 August 2013
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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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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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26 May 2011
ZhongDe Waste Technology AG: State Council of China strengthens municipal waste treatment industry
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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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