EnviTec Biogas AG · XETR:ETG
EnviTec Biogas — Q3 2007 Earnings Presentation
20 slides from EnviTec Biogas's earnings presentation, Nov 29, 2007
Slide 1: Interim Report III. Quarter 2007
Interim Report III. Quarter 2007 29 November 2007 1
Slide 2: Contents
Contents I. Highlights II. Market Environment III. Operational Milestones IV. Outlook 2
Slide 3: Highlights
Highlights Operational > Further revenues growth > Increase in EBIT > Good progress in international expansion > Plants in operation and under construction in: the Netherlands, Belgium, Czech Republic, Hungary > High feedstock prices reduce demand from farmers > Good harvest for maize in Germany Ins
Slide 4: Highlights
Highlights Revenues EBIT (margin) EURm EURm 15,8 (15,5%) 120 16 102,2 13,2 (20,8%) 14 100 12 80 63,4 10 60 8 5,5 (29%) 36,6 6 4,5 (12,3%) 40 29,3 4 20 2 0 0 Q3 2006 Q3 2007 9M 2006 9M 2007 Q3 2006 Q3 2007 9M 2006 9M 2007 Order backlog Comments EURm 150 131,0 >Growth in a temporarily difficult market
Slide 5: Contents
Contents I. Highlights II. Market Environment III. Operational Milestones IV. Outlook 5
Slide 6: EEG-discussion in Germany
EEG-discussion in Germany Comments Discussed modifications In cent / kWh Up to >150 – 500 >500kW in discussion >5 MW 150 kW 500 kW – 5 MW > Political recommendations: (curent) Grundvergütung 11.7 9.5 8.5 8.0 > Rise in base tariff for small-sized plants (10.9) > Increase of Nawaro-Bonus up to 500 kWe
Slide 7: Development in other European countries
Development in other European countries Comments European Economic Area > In July 2007 Spain passed a law for biogas promotion > In 2008 and 2009 increase of feed-in tariffs and law introduction for biogas in several European countries expected – among them: Italy, Czech Republic, Slovakia Feed-in t
Slide 8: Feedstock prices and harvest
Feedstock prices and harvest Development of corn yields Development of feedstock prices EUR/t Yield in t/ha 250 50 10 45 9 200 40 8 150 35 7 30 6 100 2004 2005 2006 2007 01.01.07 30.06.07 30.09.07 silage grain rye wheat maize (grain) source: DMK, Statistisches Bundesamt source: ZMP Comments > Maize
Slide 9: Contents
Contents I. Highlights II. Market Environment III. Operational Milestones IV. Outlook 9
Slide 10: Company structure
Company structure EnviTec Biogas Group Regional presence EnviTec Biogas AG Lohne Lohne Saerbeck EnviTec EnviTec EnviTec EnviTec EnviTec Biogas India Central South East Italia GmbH UK Ltd. Ltd. Europe s.r.o. Europe kft. (100%) (60%) (50%) (50%) (50%) Italy, Romano di Lombardia EnviTec EnviTec Zweite
Slide 11: Start-up Zweite EnviTec Beteiligungs GmbH & Co. KG
Start-up Zweite EnviTec Beteiligungs GmbH & Co. KG >Foundation of Zweite EnviTec Beteiligungs GmbH & Co. KG on 4 July 2007, seated in Lohne (Lower Saxony) >100%-subsidiary of EnviTec Biogas AG >Purpose: investments in own biogas projects >The limited liability capital amounts to 1,000,000.00 EUR Com
Slide 12: Gas feed-in and large-scale projects
Gas feed-in and large-scale projects Gas feed-in Biogas park Güstrow > worlds largest biogas processing in Güstrow > Production of 10,000 m³/h gas > Six modules at 3.5 MW electrical power > Order value around €42.0m > Technology: pressure water absorption > In addition 2 MW in construction and 1 MW
Slide 13: Contents
Contents I. Highlights II. Market Environment III. Operational Milestones IV. Outlook 13
Slide 14: Outlook
Outlook Development of Revenues and EBIT Comments Revenues EBIT EURm EURm > Concentration on organic growth 200 40 > Developing foreign markets/ Pole 180 35 position of EnviTec 160 130 - 140 30 140 > Good order backlog as basis for 120 25 20 - 22 future growth 100,7 100 20 18,5 80 > Increasing posit
Slide 15: Appendix
4 ; Wir geben #7 & Envitec Biogas. Appendix 15
Slide 16: Appendix: Overview
Appendix Overview (EURm) 2005 2006 9M 2006 9M 2007 Revenues 40.8 100.7 63.4 102.2 Change in % to previous period 147.1% 61.1% Gross profit 10.3 32.3 20.8 32.7 in % of revenues 25.3% 32.1% 32.8% 32.0% EBITDA 5.9 19.3 13.6 16.9 in % of revenues 14.4% 19.1% 21.5% 16.5% EBIT 5.5 18.5 13.2 15.8 in % of r
Slide 17: Consolidated profit and loss account
EnviTtec Biogas. ; Wir geben #7 as. Consolidated profit and loss account 01.07.-30.09.2007 01.01.-30.09.2007 —01.07.-30.09.2006 01.01.-30.09.2006 1. Sales revenue 36,552,653 102,172,887 29,334,331 63,424,701 2. Other operational earnings 136,488 909,065 129,170 322,984 Total performance 36,689,141 1
Slide 18: Appendix: Quarterly revenues, EBIT, EBT, net profit
Appendix Revenues EBIT EURm EURm 36,6 6,8 40 7 32,8 32,8 5,9 35 29,3 6 5,3 5,5 30 4,5 23,2 5 25 4 20 2006 2006 2007 3 2007 15 10,9 10 2 0,8 5 1 0 0 Q1 Q2 Q3 Q1 Q2 Q3 EBT Net profit EURm EURm 10 5 4,4 9 4,0 8 6,8 4 3,7 3,6 3,4 7 5,9 5,8 5,5 5,5 6 3 5 2006 2006 4 2007 2 2007 3 2 0,8 1 0,5 1 0 0 Q1 Q2
Slide 19: Appendix: Costs and order backlog
Appendix Comments Personnel costs in % of > Clients are reluctant to invest turnover > Result: capacity utilization below 100% 10,0 9,0 8,3 > Increase in other operating expenses due to: 8,0 7,3 >cost of ramp up of own plants 6,8 7,0 >international expansion 6,0 >sales fees 5,0 Q1 2007 Q2 2007 Q3 20
Slide 20: Consolidated balance sheet
Appendix ; Wir geben #7 as. EnviTtec Biogas. Consolidated balance sheet 30.09.2007 31.12.2006 ASSETS Fixed assets > Intangible assets 121,000 50,545, > Tangible assets 22,648,002 7,403,281 > Shares in at-equity valuation of participations 996,132 330,099 > Shares in affiliated enterprises 613,548 1