UK Markets open in 1 hr 4 mins

EnviTec Biogas Annual General Meeting 2021: Advanced biofuels - a new promising field of activity

·5-min read

DGAP-News: EnviTec Biogas AG / Key word(s): AGM/EGM/Dividend
06.07.2021 / 16:28
The issuer is solely responsible for the content of this announcement.

EnviTec Biogas Annual General Meeting 2021
Advanced biofuels - a new promising field of activity

Lohne/Saerbeck, 6 July 2021 - The shareholders of EnviTec Biogas AG (ISIN: DE000A0MVLS8) today honoured the positive performance of the company at the second digital Annual General Meeting. In 2020, the full-service biogas provider rigorously continued its business development and achieved a very positive consolidated result in spite of the ongoing COVID-19 pandemic. "We owe it above all to the know-how of our employees as well as to our integrated corporate strategy that we did not have to resort to short-time work or take advantage of government aid programmes in the second year of the pandemic and were even able to achieve one of the best results in the history of our company," said CEO Olaf von Lehmden.

Chief Financial Officer Jörg Fischer and Chief Technology Officer Jürgen Tenbrink also expressed their confidence that the company will be able to defend its position as the leading integrated full-service biogas provider also in 2021. This is essentially attributable to the development of a new business field, advanced biogas fuels, which has been accelerated by the acquisition of BioEnergie Güstrow, Europe's largest biogas plant. "Thanks to the ambitiously implemented Renewable Energy Directive RED II, significant greenhouse gas savings can now be achieved in the German fuel mix after 30 years of standstill, although they still fall short of the overall political targets," von Lehmden continued.

In their presentations, the three Executive Board members analysed the business trend of 2020 in detail. "It is clearly visible that we have grown continuously over the past years and have further increased our profitability in the process. In the past fiscal year 2020, we were even able to further increase the record EBITDA of the previous year once again. This was achieved not least thanks to the greatly increased momentum in the Plant Construction segment," CFO Jörg Fischer said. For the current fiscal year 2021, the Executive Board projects slightly higher total output and earnings before taxes of EUR 17-19 million.

At the Annual General Meeting, the Executive Board and the Supervisory Board were discharged from liability by a large majority. The other items on the agenda were also clearly approved. These include the resolution to again distribute EUR 14.85 million from EnviTec Biogas AG's accumulated profit of EUR 23.72 million, which corresponds to a dividend of EUR 1 per entitled share. The shareholders attending the Annual General Meeting represented 85.39 % of the share capital.

Production of advanced fuels marks launch of new promising field of activity
According to the new RED II, distributors of fuels are now obliged to reduce the GHG emissions of their products by 25 percent by 2030. "We appreciate this just as much as the recent ruling of the Federal Constitutional Court on climate protection, which has led and will continue to lead to stricter legislation," von Lehmden said. In response to the new legal framework, EnviTec will now rigorously develop the new field of advanced biofuels. "To this end, our Own Plant Operation segment has taken over the 31-hectare BioEnergie Park Güstrow," the CEO added.

At the heart of the new concept at Europe's largest biogas plant to date is the production of advanced biofuels in the form of bio-LNG (Liquefied Natural Gas). The acquisition of the biogas plant, which was built by EnviTec and taken into operation back in 2009, is expected to enable the production of some 9,000 tons of bio-LNG as of autumn 2022. With this investment and the conversion to bio-LNG, the full-service biogas provider is setting a milestone for a greener transport sector.


About EnviTec Biogas AG
EnviTec Biogas AG covers the entire value chain for the production of biogas, including the planning and turnkey construction of biogas plants and biogas upgrading plants as well as their commissioning. Upon request, the company takes charge of biological and technical services and offers operational management. EnviTec operates 75 own plants, making it one of the largest biogas producers in Germany. The company's business activities also include the direct marketing of processed biomethane as well as the marketing of electricity and balancing energy. With a presence in 16 countries worldwide, EnviTec Biogas AG is represented by its own companies, sales offices, strategic partners and joint ventures. In 2020, the EnviTec Group generated revenue of EUR 192.3 million and EBT of EUR 17.2 million. The Group currently employs 477 people. EnviTec Biogas AG has been listed on the Frankfurt Stock Exchange since July 2007.

Contact:
Katrin Hackfort
EnviTec Biogas AG
Tel: +49 25 74 88 88 - 810
Email: k.hackfort@envitec-biogas.de

 


06.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

EnviTec Biogas AG

Industriering 10a

49393 Lohne

Germany

Phone:

+49 (0) 44 42 - 80 65 0

Fax:

+49 (0) 44 42 - 80 65 103

E-mail:

info@envitec-biogas.de

Internet:

www.envitec-biogas.de

ISIN:

DE000A0MVLS8

WKN:

A0MVLS

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1215853


 

End of News

DGAP News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting