EnviTec Biogas: AGM Rewards Positive Business Trend
- Dividend of EUR 0.35 per share decided
- All agenda items approved by large majority
Lohne, 26 June 2015 – At yesterday's ordinary Annual General Meeting of EnviTec Biogas AG (ISIN: DE000A0MVLS8), the shareholders expressed their great satisfaction with the strategic positioning of the company and the results of the 2014 financial year. The proposals made by the management were approved by a large majority of the shareholders for all items on the agenda. With regard to the profit appropriation, it was decided to pay out an amount of EUR 5,197,000, which is equivalent to a dividend of EUR 0.35 per eligible share. About 84.08% of the share capital was represented at this year's Annual General Meeting.
With business in EnviTec's German home market having come to a standstill as a result of the 2014 Renewable Energy Sources Act (EEG), the business outlook for the global biogas sector was the most important topic addressed at the AGM.
Olaf von Lehmden, CEO of EnviTec Biogas AG, emphasised: 'The solid figures for the year 2014 show that our early concentration on fast-growing foreign markets has paid off. This allowed our Plant Construction segment to turn around and to defy the negative industry trend in Germany.'
Besides the Plant Construction segment, which, like all other business segments, now operates under the legal status of a GmbH & Co. KG, the Own Plant Operation segment is a main pillar of the company's strategy and generates high margins. The two younger segments, Service and Energy, continued to establish themselves in the 2014 financial year.
According to a separate announcement published yesterday, Chief Customer Officer Roel Slotman will resign from the Executive Board with effect from 1 July 2015. Going forward, he will work as a consultant under an exclusive agreement with EnviTec Biogas and build up the very promising Chinese market.
On balance, EnviTec believes it is well positioned in the global biogas market and fit for the future thanks to the structural adjustments made over the past years. On the occasion of the AGM, the Executive Board confirmed its guidance for the current financial year, according to which business will be stable, with Group sales revenues at the prior year level and earnings before interest and taxes (EBIT) stable to slightly improving
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