ZhongDe Waste Technology AG announced the financial results for the year 2014. For the period, the company reported revenues nearly tripled from EUR 12.3 million to EUR 35.0 million. EBIT increased by EUR 10.4 million to EUR 3.0 million mainly due to progress in the BOT project in Lanzhou and the EPC project in Dingzhou. In the financial years 2013 and 2014 the operating profit was significantly influenced by special effects resulting from the project valuation and in addition by the positive one-off effect out of the sale of the subsidiary in Beijing (2013: EUR 10.3 million). LBITDA adjusted for the extraordinary effects went up from EUR 6.0 million to EUR 2.2 million. Including the extraordinary effects, EBIT improved to EUR 3.0 million against LBIT of EUR 7.4 million. As at 31 December 2014, the cash position of the company amounted to EUR 87.2 million (as at 31 December 2013: EUR 110.1 million). Besides the higher cash outflow due to the project progress, the decrease in cash position was caused by the repayment of bank loans.

Based on the assumption that the project progress will develop as planned, the management expects to be able to continue the rapid growth in revenues and gross profit in 2015. Accordingly, EBIT and net result for the period will follow this trend.