German Pellets GmbH i.I.
German Pellets GmbH: German Pellets confirms group net earnings for first half of 2014
DGAP-News: German Pellets GmbH / Key word(s): Half Year Results 02.10.2014 / 15:25 --------------------------------------------------------------------- * Growth in both sales and earnings * Ongoing internationalisation * Full-year projectionsconfirmed Wismar, October 1, 2014: German Pellets GmbH has presented its Group Financial Report for the first half of 2014 and confirmed its preliminary consolidated net earnings figures. As of June 30, 2014, the world's largest producer and trader of wood pellets generated consolidated sales of Euro 260.6 million (+10% yoy growth) Earnings before interest, taxes, depreciation and amortization (EBITDA) improved to around Euro 25.0 million in the first half of 2014 from Euro 18.8 million in the previous year's period. The divergence to the preliminarily published EBITDA figure is due to the amended recognition of current payments for operations at the US plant in Woodville, Texas. Earnings before taxes also developed positively, rising from Euro 4.7 million to Euro 8.3 million, while net income surged from Euro 1.9 million to Euro 5.1 million. The key growth and profit driver was the launch of the first US plant, located in Woodville, Texas, that started operations in Q3 /2013. Overall, the wood pellet market has grown in nearly all Western European marketsdespite the mild winter. This market growth is chiefly attributable to the persistently high level of fossil fuel prices. German Pellets plans to launch production of the second US plant in in Urania, Louisiana, at the end of this year. The US is currently evolving to one of the world's most important pellet suppliers for the European market. German Pellets is actively fueling this market trend . "We will be further pursuing our course of expanding US capacities", commented Peter H. Leibold, Managing Partner of German Pellets GmbH. To access new stages in the value chain, German Pellets is examining options to build up saw-mills and sorting capacities at the US sites. German Pellets plans to further expand its sales network in Europe in the second half of the year. Existing sales capacities have already been expanded. To further boost its sales activities in Germany, the company acquired as of September 1, 2014 the wood pellet business from Michael Wäsler GmbH, known under the "Münchenpellets" brand, which has a well-established customer base in the Greater Munich region. Furthermore, German Pellets is in an ongoing dialogue with European energy players interested in converting their power plants to use wood pellets, as well as with wood pellet industrial plant operators of medium-sized boilers in the market for business and industrial customers. Here, the company recently concluded a ten-year fuel supply agreement with a German combined heat and power (CHP) plant. German Pellets currently expects to maintain its growth course in the second half of the year. The world's leading producer and trader of wood pellets expects demand to pick up significantly in the fourth quarter. This is due to the mild winter at the beginning of this year, which led existing customers and new installations to postpone stockpiling to the second half of the year. For the financial year as a whole, German Pellets has budgeted consolidated sales of around Euro 550 million. German Pellets is currently examining various financing options. The complete Group Half-Year Financial Report 2014 is available in the Investor Relations section on www.german-pellets.de. Press contact Claudia Röhr Tel: +49 (0) 3841 - 30306412 Mail: claudia.roehr@german-pellets.de Business and financial media Michael Werneke Tel: +49 (0) 211 - 38735546 Mail: michael.werneke@better-orange.de --------------------------------------------------------------------- 02.10.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 290098 02.10.2014
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