- Business model with highly predictable earnings allows
for high dividend payments
- Subscription period from 13 June to 26 June 2012
- 2.7 million shares at a fixed price of EUR 13.80
- Anchor investors have already signed subscriptions
Hamburg, 13 June 2012 - Today marks the start of the
subscription period for the first IPO by a German company
in the year 2012. KTG Energie AG (ISIN: DE000A0HNG53), the
country's third-largest producer of renewable energy from
biogas and a subsidiary of KTG Agrar AG, has set the price
for its public offering at EUR 13.80 per share in
conjunction with lead manager WGZ Bank and the incumbent
shareholder. KTG Energie is offering 2,700,000 shares for
subscription, which translates into gross proceeds of up to
EUR 37.26 million from the issue.
Dr. Thomas Berger, CEO of KTG Energie, said:" Our IPO
offers investors exposure to a well-established business
model with highly predictable earnings in the renewable
energies space." KTG Energie was among the pioneers in the
nascent biogas industry when it started up its first biogas
plants in 2006. Over the past years the company has
continued to grow and today operates biogas plants with a
production capacity of 22.4 megawatts (MW) under full load.
A number of other plants are in the start-up or
construction phase; the 30 MW mark will be clearly exceeded
during the course of 2012. This is sufficient to supply
close to a quarter million people with clean green energy.
Last year saw the company's sales rise by 50 percent to EUR
21.5 million while operating profit (EBIT) advanced by 44
percent to EUR 4 million. Several new biogas plants went on
line at the end of 2011 and will contribute to sales and
earnings in 2012, meaning that continued growth is already
ensured. In May 2012 analysts at Creditreform Rating AG
assigned KTG Energie a BBB- rating, thereby putting the
company in the investment grade class.
HIGHLY PREDICTABLE BUSINESS MODEL TO SUPPORT HIGH DIVIDENDS
AS FROM 2013
The net proceeds from the issue will serve to fund the
company's continued growth. KTG Energie operates in an
attractive market environment due to the versatility of
biogas as a fuel for both base load and peak load power
generation. This makes it an important element in the
transition to green energy pushed ahead by the German
government. Apart from its excellent opportunities in the
market, KTG Energie's business model offers very good
predictability. On the one hand, the German Renewable
Energies Act (Erneuerbare Energien Gesetz, EEG) guarantees
a fixed tariff for feeding biogas-fuelled electricity into
the public grid for 20 years. On the other hand, KTG
Energie continues to benefit from its integration with one
of Europe's leading agricultural companies, given that KTG
Agrar will remain its majority shareholder after the IPO.
This means that supplies of biogas feedstock are ensured
over the long term. Says Dr. Thomas Berger: "Over the past
years we have invested more than EUR 100 million in the
construction of biogas plants. While we will continue to
grow our present production capacity, we will at the same
time pay an attractive dividend to our shareholders as from
2013."
SUBSCRIPTIONS POSSIBLE PRESUMABLY UNTIL JUNE 26
Interested investors may subscribe shares in the company in
the period from 13 June to 26 June 2012 (12 a.m.). Apart
from Lead Manager WGZ Bank, selling agents include youmex
Invest AG, DONNER & REUSCHEL AG and Silvia Quandt & Cie. AG
in cooperation with biw bank AG. Private investors can make
subscriptions via all member institutions of the Volks- und
Raiffeisenbank group, DAB bank AG, ING-DiBa AG and Cortal
Consors S.A. Trading in the shares is scheduled to commence
in the Open Market (Entry Standard) of the Frankfurt Stock
Exchange on 29 June 2012.
The IPO is for 2,700,000 no-par-value shares with a nominal
value of EUR 1. This total number breaks down into (a)
1,000,000 shares created through a capital increase against
cash which raise the capital stock from 5,000,000 shares to
6,000,000 shares and (b) 1,700,000 shares previously owned
by incumbent sole shareholder KTG Agrar. The latter will
remain KTG Energie's majority shareholder with a minimum
stake of 55 percent. Talks with potential anchor investors
conducted in the run-up to the IPO not only identified a
strong appetite for the issue but also resulted in firm
commitments for sizeable subscriptions.
The IPO terms are set out in the prospectus approved by
German regulator BaFin (Bundesanstalt für
Finanzdienstleistungsaufsicht) on 12 June 2012. The
prospectus has been posted on the company's website (www.ktg-energie.de)
and is available in hardcopy format from KTG Energie AG,
Ferdinandstraße 12, 20095 Hamburg, Germany.
About KTG energie AG
Headquartered in Hamburg, KTG Energie AG (ISIN:
DE000A0HNG53) specialises in the production of green energy
from renewable resources. The company has operated biogas
plants in Germany since 2006, covering the entire value
chain from planning to construction and operation. At
present the company has biogas plants with a production
capacity of 22.4 megawatts running under full load; a
number of other plants are either in the start-up stage or
under construction. This total capacity is sufficient to
supply close to a quarter million people with clean green
energy. Production capacity will be expanded in the coming
years. As a subsidiary of agricultural producer KTG Agrar
AG, the company benefits from long term access to renewable
feedstock supplies, in particular intercrops, grass and
hay. KTG Energie currently employs approximately 40 people
and reported 2011 sales of EUR 21.5 million as well as an
operating profit (EBIT) of approximately EUR 4 million.
ABOUT KTG AGRAR
With cultivable land of around 35,000 hectares, KTG Agrar
AG (ISIN: DE000A0DN1J4) is one of the leading producers of
agricultural commodities in Europe. As an integrated
supplier, the company produces agricultural commodities and
renewable energy and food. The Hamburg-based company's
core area of expertise is the organic and traditional
cultivation of market products such as cereals, maize and
rapeseed. For organic market products KTG Agrar is the
European market leader. The company mainly produces in
Germany but has also operated production in the EU member
state of Lithuania since 2005. The company's third
mainstay is the production of bio-energy. At present, KTG
Agrar operates biogas plants with a total capacity of
around 30 megawatts. As a result of the takeover of Frenzel
Tiefkühlkost in 2011, KTG has expanded the value chain by
the production of food. In the year 2011, KTG achieved a
total output of EUR 112,1 million and EBIT of EUR 15,1
million. Since November 2007 the company is listed on the
Frankfurt Stock Exchange and has currently about 600
employees. Further information can be found at www.ktg-agrar.de.
Contact
Investor Relations / Presse
Fabian Lorenz
IR.on AG
Phone: +49 221 914097-6
E-mail: fabian.lorenz@ir-on.com
Disclaimer
This press release does not constitute an offer to sell
securities in the United States of America, Canada,
Australia, Japan or other jurisdictions in which an offer
is subject to statutory restrictions. The securities
mentioned in this press release may not be offered or sold
in the United States or to, or for the account or benefit
of, US persons (as such term is defined in Regulation S
under the Securities Act of 1933 as amended (the
"Securities Act")) unless they are registered
under the Securities Act or exempt from registration.
Subject to certain exceptions according to the Securities
Act the securities mentioned in this press release may not
be offered or sold in Australia, Canada or Japan or to, or
for the account or benefit of, Australian, Canadian or
Japanese residents. A registration of the offer or the
selling of the securities mentioned in this press release
according to the respective legal provisions in Canada,
Australia and Japan will not take place. It is not intended
to make a public offer of securities in the United
States.This information solely serves marketing purposes
and does not constitute a securities prospectus.
Prospective investors interested in the securities
mentioned in this press release should base their
investment decision solely on the basis of information
provided by the securities prospectus regarding the offer
of these securities which has been approved by the German
Federal Financial Supervisory Authority (Bundesanstalt für
Finanzdienstleistungsaufsicht, BaFin) and published by KTG
Energie AG. Interested investors may obtain a free copy of
the securities prospectus directly from KTG Energie AG
(Ferdinandstr. 12, 20095 Hamburg, Germany; phone:
+49-(0)40/76755-372, fax: +49-(0)40/76755-374) or at
www.ktg-energie.de/wertpapierprospekt. All statements of
opinion and/or belief contained in this press release and
all views expressed and all projections, forecasts or
statements relating to expectations regarding future events
or the possible future performance of KTG Energie AG or any
corporation affiliated with KTG Energie AG only represent
the own assessments and interpretation by KTG Energie AG of
information available to it as of the date of this
document. No representation is made or assurance given that
such statements, views, projections or forecasts are
correct or that they will be achieved as described.
Prospective investors must determine for themselves what
reliance (if any) they should place on such statements,
views, projections or forecasts and no responsibility is
accepted by KTG Energie AG or any of their respective
affiliates or any of their advisors in respect thereof.
Thus, it is important, that prospective investors rely on
their own examination of the legal, tax, financial and
other consequences of an investment in KTG Energie AG,
including the merits of investing and the risks involved.
Prospective investors must not treat the contents of this
document as advice relating to legal, tax or investment
matters and are advised to consult their own professional
advisors concerning the acquisition, holding or disposal of
any investment in KTG Energie AG.
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