Press releases
Q3 results 2012
ZhongDe Waste Technology AG: Financial results benefit from positive one-off effects in the third quarter 2012
- Revenues increased by 15.8% to EUR 7.4 million in Q3 2012
- EBIT of EUR 7.0 million due to positive one-off effects
- New BOT project signed in October
Frankfurt, 30 November 2012
The third quarter 2012 remained difficult for ZhongDe Waste Technology AG in regards to the completion of its running BOT and EPC projects. Nevertheless, the quarter-on-quarter financial results have improved and the Management Board confirms its guidance to reach better results in 2012 than in 2011.
The third quarter 2012 was significantly impacted by two positive one-off effects: First, the land use rights for the planned manufacturing facility in Beijing, which had been written off at the end of the year 2011, have finally been approved by the Chinese authorities and thus generated an appreciation of EUR 6.7 million. In addition the results of the third quarter were positively affected by the reversal of a provision amounting to EUR 1.0 million to cover penalties, which were settled at a more favorable amount. Both one-off effects are reflected in the other operating income.
Revenues of the Company increased by 15.8% to EUR 7.4 million in the third quarter 2012 as a result of the progress on the Kunming and Xianning BOT projects. Despite this positive development, revenues for the first 9 months 2012 are still 8.0% below the comparable period 2011. Gross profit grew slightly by 0.8% to EUR 1.3 million in Q3 2012. Adjusted for the positive one-off effects, EBITDA increased by EUR 0.3 million but remained negative at EUR -0.9 million (Q3 2011: EUR -1.2 million) while the adjusted EBIT grew to EUR -0.8 million (Q3 2011: EUR -1.2 million).
Including the one-off effects EBIT increased to EUR 7.0 million (Q3 2011: EUR -1.2 million) and net profit amounted to EUR 6.3 million (Q3 2011: EUR -1.8 million). For the full 9 months 2012 net profit reached EUR 2.1 million (9M 2011: EUR -5.1 million).
The strict cost control measures implemented to improve ZhongDe’s operative results showed impact in Q3 2012. Selling and distribution costs remained stable at EUR 0.5 million compared to the third quarter last year. Administrative expenses even went down by 25.4% to EUR 0.9 million (Q3 2011: EUR 1.2 million).
Despite several internal and external factors including delays in the granting of various Chinese government approvals, which slowed down the completion of ZhongDe’s running BOT and EPC projects, ZhongDe still disposes of a strong cash position of EUR 108.7 million and a total equity of EUR 128.6 million as of 30 September 2012. The equity ratio of the company amounted to 59.1%.
Outlook
For the rest of the financial year 2012, ZhongDe will focus on completing its BOT project in Zhoukou and on advancing the construction process of its other BOT projects in Kunming and Xianning. Due to the slow recovery of the market for small-scale incinerators, ZhongDe will continue to focus on large-scale waste-to-energy projects.
Regarding the financial results, ZhongDe’s Management Board confirms its guidance of reaching better overall financial results in 2012 compared to 2011.
New BOT project in Lanzhou signed in October
In October 2012, ZhongDe was able to achieve a very important business deal by signing the largest waste-to-energy BOT project within China. Customer is the Lanzhou Qinwangchuan Integrative Development Management Committee. The new waste-to-energy plant located in Lanzhou City will have a daily waste disposal capacity of up to 3,000 tons. The total order intake amount of Lanzhou is expected to be EUR 177.9 million.
“We are starting the planning phase of the project in Lanzhou in the fourth quarter 2012. Thanks to this new order, the Management Board of ZhongDe expects to achieve much better financial results in the future”, says William Wang, CFO of ZhongDe Waste Technology AG.
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
Investor Relations
Messeturm 25th floor
Friedrich-Ebert-Anlage 49
60308 Frankfurt am Main
T: +49 69 50956 5655
F: +49 69 50956 5567
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
Overview
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30 August 2016
ZhongDe Waste Technology AG: Project in Lanzhou continues progressing rapidly
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27 May 2016
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29 April 2016
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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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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
Details
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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