DGAP-Adhoc: ZhongDe Waste Technology AG: Further delays in completion process of energy-from-waste plants leads to revision of full year 2011 outlook

ZhongDe Waste Technology AG  / Key word(s): Quarter Results

24.11.2011 11:48

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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Release of an Ad hoc announcement according to Sec. 15, German Securities
Trading Act (WpHG)

ZhongDe Waste Technology AG: Further delays in completion process of
energy-from-waste plants leads to revision of full year 2011 outlook

Frankfurt, 24 November 2011 - According to the preliminary results for the
third quarter of 2011, ZhongDe Waste Technology AG ('ZhongDe', 'the
Company', Ticker symbol 'ZEF') generated revenues of 6.4 million Euro and
1.5 million Euro gross profit while EBIT amounted to -1.2 million Euro.
Compared to the third quarter of 2010, this represents a revenue increase
of 38.8%. At the same time, gross profit increased by 16.6% while EBIT
decreased by 90.7%.

Based on the preliminary results for Q3, ZhongDe's revenues in the first
nine moths of 2011 amounted to 13.4 million Euro, decreasing by 31.5%
compared to the first nine months of 2010. EBIT decreased, too, and total
-3.7 million Euro compared to -1.2 million Euro in the first nine months of
2010.

Even though the preliminary operating result is worse than expected,
ZhongDe's net cash position of around 100 million Euro as at 30 September
2011 still remains on a high level. This strong cash position ensures the
flexibility of ZhongDe in the fields of BOT investment and project finance.

The net loss in the third quarter, was mainly caused by further delays in
the completion process of energy-from-waste plants under construction.
ZhongDe expects three or four projects under construction to be completed
in 2012. Accordingly, ZhongDe now expects revenues and net result for the
full year 2011 to be slightly below previous year's benchmark. In line with
the delays, the Company anticipates the affected projects to generate their
contribution to the Company's income in the course of 2012.



Contact

William Jiuhua Wang

Executive Director and CFO
E-Mail: william.jw@zhongdetech.com

Ying Sun

Assistant IR Manager
Herriotstr. 1 
60528 Frankfurt am Main
Germany

T: +49 69 67733 172
F: +49 69 67733 200
E-Mail: ying.sun@zhongde-ag.de

Kirchhoff Consult AG

Nicole Schüttforth
Investor Relations Consultant

T: +49 40 60 91 86 64
F: +49 40 60 91 86 60
E-Mail: nicole.schuettforth@kirchhoff.de




24.11.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language:     English
Company:      ZhongDe Waste Technology AG
              Stadthausbrücke 1-3
              20355 Hamburg
              Germany
Phone:        + 49 69 67733 172
Fax:          + 49 69 67733 200
E-mail:       ying.sun@zhongde-ag.de
Internet:     www.zhongde-ag.de
ISIN:         DE000ZDWT018
WKN:          ZDWT01
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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