Press releases

H1 results 2012

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

 

Frankfurt, 30August 2012

Within the first half year 2012, ZhongDe Waste Technology AG ("ZhongDe", "the Company", Ticker symbol "ZEF") was faced with project delays which adversely affected the H1 results of the Company. The revenues of ZhongDe decreased to EUR 4.9 million (H1 2011: EUR 7.0 million) and gross profit amounted to EUR 0.4 million (H1 2011: EUR 1.5 million). However, ZhongDe still disposes of a strong cash position of EUR 106.7 million and an equity ratio of 60% as of June 30, 2012, providing the Company with the necessary financial resources for future investments and project finance. Also the order backlog still amounts to EUR 141.9 million (H1 2011: EUR 144.5 million).

 

In the first six months 2012 EBIT decreased to EUR -3.5 million (H1 2011: EUR -2.5 million). The net loss amounted to EUR -4.1 million, which corresponds to a decline of 27.1% compared to the first half year 2011 with a net loss of EUR -3.3 million. Next to the project delays, the main reason for this decrease were higher other operating expenses and increased finance costs, while selling and distribution costs went down by 46.2% to EUR 0.7 million and also administrative expenses decreased slightly by 6.5% to EUR 1.8 million. These reduced expenses show that ZhongDe’s measures to control operating costs are successful.

 

Despite the negative results in H1 2012, ZhongDe still disposes of a strong cash position of EUR 106.7 million and a total equity of EUR 123.9 million which ensures that the Company remains flexible especially in the field of BOT investment, but also project finance.

 

The main reason for the negative development within the first half year 2012 are still the delays in the completion of waste-to-energy plants due to several internal as well as external factors including delays in the granting of various Chinese government approvals.

 

Regarding the future development of the Company, ZhongDe expects to benefit from the favorable economic environment for eco-friendly waste disposal as well as from the growing demand for waste-to-energy plants in China and throughout Asia. With regard to the slow recovery of the market for small-scale incinerators, ZhongDe will continue to focus on large-scale waste-to-energy projects. The company is optimistic to sign one or two new project contracts in 2012, which will lead to a significant growth of order intake and order backlog. ZhongDe plans to generate recurring revenues especially with the BOT business, which delivers sustainable earnings stream from electricity sales and the waste disposal fee. The Company expects that the Zhoukou BOT project will be completed by the end of the financial year 2012 and contribute to the results as well as further construction progress of the other BOT and EPC projects. The management of ZhongDe is convinced that the company will show improved financial performance in the coming years.

 

 

About ZhongDe Group

ZhongDe Group designs, invests, constructs, finances and operates waste-to-energy 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 throughout China. ZhongDe is one of the leading players in the project development and operation of waste-to-energy plants in China.

 

 

Contact

ZhongDe Waste Technology AG

William Jiuhua Wang

Executive Director and CFO

E-Mail: william.jw@zhongdetech.com

 

Ying Sun

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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28 May 2014

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23 December 2013

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28 August 2013

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28 June 2013

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28 May 2013

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29 April 2013

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30 November 2012

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23 October 2012

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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

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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

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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

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26 May 2011
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20 May 2011

ZhongDe Waste Technology AG: Feicheng BOO project passes emission test


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2 May 2011
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24 February 2011
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30 December 2010
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30 November 2010
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19 November 2010
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10 November 2010
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30 August 2010
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27 August 2010
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19 July 2010
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4 June 2010
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28 May 2010
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30 April 2010
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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
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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
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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
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23 January 2009
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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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