EnviTec discusses international expansion in Q3 results
Germany-based EnviTec Biogas AG recently released financial results for the third quarter of 2013, reporting positive sales trends.
While regulatory uncertainty in Germany caused demand for biogas plants in Germany to decline sharply last year, EnviTec noted it significantly cut costs and pushed ahead with its international expansion. As a result, the quarter demonstrated growing sales revenues and reported positive third quarter results.
Sales revenues increased from €35.3 million ($48.12 million) in the second quarter to 38.5 million in the third quarter. The company’s Own Plant Operation segment reported a sales revenue of €14.4 million, the highest of any segment. Revenues from the segment were up from €10 million during the same quarter of 2012.
Moving into the fourth quarter, the company predicts a stable trend. As of the end of September, EnviTec had an order backlog of €93.3 million. “The market environment will remain challenging in 2014, but we see growth opportunities. The German biogas market urgently needs a reliable legal framework to allow biogas, which is a source of energy that can cover base load and peak load requirements, to make an important contribution to the exit from nuclear energy,” said Jörg Fischer, Chief Financial Officer of EnviTec Biogas.
While EnviTec focused on its international expansion in its third quarter results, the company also recently announced a new project in Germany. In December, EnviTec announced construction has begun on a new biogas energy park in Forst, Germany. The project features the biogas upgrading technology EnviThan. In the first phase, the EnviThan gas upgrading plant will supply approximately 60,000 megawatt hours (MWh) of green energy with an output of 700 standard cubic meters of biomethane per hour. The facility is expected to begin operations later this year. Once operational, it will provide enough biobased methane to heat an estimated 3,000 single-family homes.