DGAP-News: BIOGAS NORD AG returns to profitability at mid year 2010

Biogas Nord AG  / Key word(s): Half Year Results

30.09.2010 20:47 
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BIOGAS NORD AG returns to profitability at mid year 2010

- Overall performance amounts 13,418 TEUR (+48.9 percent)
- EBIT amounts 597 TEUR (previous year: (834) TEUR)
- Group results amounts 427 TEUR (previous year: (574) TEUR)
- Incoming order as at September 15th 2010 amounts 76 million euro (+130
percent)
- Outlook 2010 - Further growth expected

Bielefeld, September 30th 2010. BIOGAS NORD AG closed the first six months
of the business year 2010 with a broad increase in the overall performance
and earnings and returned to profitability.

In the reporting period (January 1st to June 30th 2010), the group's
overall performance rose from 9,013 TEUR up to 13,418 TEUR. This answers to
an increase of 4,405 TEUR or 48.9 percent in comparison to the previous
year's period. The revenues rose in the reporting period from 9.354 TEUR by
53.3 percent up to 14.340 TEUR.

The broad increase of the overall performance affected also the earning
ratios. Hereafter, the Group's EBITDA rose from   -540 TEUR by 1,448 TEUR
up to 908 TEUR. EBIT rose up to 597 TEUR (previous year: -834 TEUR). The
net income after minority interest amounted 427 TEUR. This corresponds to
an increase by 1,001 TEUR after -574 TEUR in the period of the previous
year. Accordingly, the earnings per share totaled 0.11 EUR (Outstanding
shares: 3,825,377).

As at closing date, June 30th 2010, the group's total assets amounted
20,047 TEUR (December 31st 2009: 22,622 TEUR). The equity rose from 1,480
TEUR up to 3,522 TEUR. So, the equity ratio improved significantly from 6.5
percent up to 17.6 percent. Liabilities reduced to 14,770 TEUR from 17.287
TEUR. The included financial liabilities reduced from 3,266 TEUR to 1,824
TEUR. The liquid funds amounted to 1,200 TEUR (December 31st 2009: 3,075
TEUR).

As at September 15th 2010, the order backlog increased by 56 percent up to
75 million euro (previous year: 48 million euro), the incoming order
amounted 76 million euro (previous year: 33 million euro).
'The broad growth in revenue and the return to profitability of the Biogas
Nord group reflect the initiation and consequent realisation of the
reorganisation and cost savings by the management board. In the operational
segment we forced the strategic alignment of the group especially by
international project business and owned and operated plants', so
Aleksander Rechter, Chief Executive Officer of Biogas Nord AG.

'With the positive corporate development during the first six months we are
optimistic to continue the growth of the previous months on full year base.
More over, the current group structure is a good base to extend the
business volume with high profit ratio in the future', so Asnat Drouianov,
Chief Financial Officer of Biogas Nord AG.

The mid-term-report 2010 is available under
http://www.biogas-nord.com/de/geschaeftsberichte.

About BIOGAS NORD
BIOGAS NORD AG is one of the largest technology suppliers in the biogas
industry. The services provided by the enterprise and its more than 130
employees encompass all areas of biogas technology, from concept
development, detailed planning, construction of facilities, to operations
and support services. More than 250 biogas facilities have been planned,
built or developed since 1995. Currently about 60 additional biogas
facilities are in the construction, approval or planning phase in Germany,
the Netherlands, England, Italy, Spain and Poland. European Business
Partners Sp. z o.o. (EBP), a Polish holding company, is the largest
shareholder of BIOGAS NORD AG.


Company contact:
BIOGAS NORD AG
Werningshof 2-4
D-33719 Bielefeld
Tel. +49 (0)521 - 96 33 - 0
info@biogas-nord.de
www.biogas-nord.com

Investor Relations contact:
GFEI Aktiengesellschaft
Hamburger Allee 26-28
D-60486 Frankfurt
Tel. +49 (0)69 - 74 30 37 - 00
biogasnord@gfei.de
www.gfei.de




30.09.2010 20:47 Dissemination of a Corporate News, transmitted by DGAP - 
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