Schmack Biogas AG / Quarter Results 27.05.2008 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Schmack Biogas publishes figures for the first quarter of 2008: - Decline in Q1 sales - Management Board strengthened - Market environment to remain challenging in 2008 Schwandorf, 27 May 2008. The first quarter was marked by a weak business trend in line with expectations. Q1 sales revenues declined from EUR 31.0 million in 2007 to EUR 14.3 million in 2008, resulting in EBIT of EUR -8.8 million compared to EUR -2.3 million in the previous years period. This is attributed to the current wait-and-see attitude on the part of customers faced with uncertainties about the future legislative environment as well as the continuing high prices of agricultural commodities. Schmack Biogas therefore anticipates a weak financial year 2008. At its meeting on 27 May 2008, the Supervisory Board of Schmack Biogas AG decided on comprehensive changes on the Management Board. As of 1 June 2008, Werner Rüberg (55) will become Chairman of the Management Board and Chief Financial Officer. Mr Rüberg was most recently a Business Partner at BERCON Consulting Group Deutschland GmbH and previously served as Chairman of the Managing Board of Eternit AG, member of the Managing Board of ETEX Group, a world-leading building materials group, as well as Management Chairman of LEONHARD WEISS GmbH in Göppingen. Also effective as of 1 June 2008, Joachim Schlichtig (44) and Otto R. Eichhorn (42) have been appointed to the Management Board. Mr Schlichtig will be in charge of Plant Engineering, Technology and Development while Mr Eichhorn will oversee both national and international Sales and Marketing. Mr Schlichtig most recently served as Executive Vice President at SMS Demag AG where he was in charge of plant realisation and international business expansion. Mr Eichhorn has been Managing Director of Hese Biogas, a Schmack subsidiary, since October 2007, having previously served as member of the management and Sales Director at the international management consultancy firm CSC. Dr. Alexander Götz, CFO of Schmack Biogas AG since October 2006, will leave the company for personal reasons. The Supervisory Board greatly regrets this decision and thanks Dr. Götz for the strong commitment shown in the past years. Dr. Götz will remain available to the company in an advisory capacity. Ulrich Schmack will serve as Vice-chairman of the Management Board and focus on the areas of raw materials, biology and research, pushing ahead the strategic development of the company together with the new Chairman of the Management Board. Contact: Schmack Biogas AG Markus Meyr Tel.: +49 (0) 9431 / 751-111 markus.meyr@schmack-biogas.com Haubrok Investor Relations GmbH Michael Müller, Linh Chung Tel.: +49 (0) 211 / 30126-106 m.mueller@haubrok.de DGAP 27.05.2008 --------------------------------------------------------------------------- Language: English Issuer: Schmack Biogas AG Bayernwerk 8 92421 Schwandorf Deutschland Phone: +49 (0)9431 / 751-0 Fax: +49 (0)9431 / 751-204 E-mail: info@schmack-biogas.com Internet: www.schmack-biogas.com ISIN: DE000SBGS111 WKN: SBGS11 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: Schmack Biogas publishes figures for the first quarter of 2008
| Source: EQS Group AG