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

9 May 2018

ZhongDe Wastes technology AG: Current Status of WuHai Waste-to-Energy Project


Details

9 May 2018

ZhongDe Wastes Technology AG: Introduction for DingZhou Waste-to-Energy Project


Details

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

27 October 2016

ZhongDe Waste Technology AG: New members of the Supervisory Board


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

27 November 2015

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


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

28 May 2014

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


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

29 August 2012

Changes in the Supervisory Board of ZhongDe Waste Technology AG


Details

31 July 2012

ZhongDe Waste Technology AG: Difficult start into financial year 2012


Details

23 July 2012

Interview with Börsen Radio Network


Details

17 July 2012

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


Details

30 April 2012

ZhongDe Waste Technology AG: Publication of Annual Report 2011 delayed


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

31 August 2011

ZhongDe Waste Technology AG: Audited H1 2011 results


Details

31 May 2011

ZhongDe Waste Technology AG: Q1 results show positive trend


Details

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

20 May 2011

ZhongDe Waste Technology AG: Feicheng BOO project passes emission test


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