Zhongde Waste Technology Ag reported earnings results for the first quarter of 2014. For the quarter, the company generated revenues of EUR 1.1 million compared to EUR 1.2 million a year ago. This corresponds to a decline of 13.9%, which was mainly caused by the zero-profit accounting method, which is being applied since the second quarter 2013. LBIT went down by 8.2% to EUR 1.4 million compared to EUR 1.3 million a year ago. Net loss amounted to EUR 2.3 million compared to net loss of EUR 1.5 million a year ago.

For 2014 improved operating results are expected although still leading to a loss before taxes. The group's cash position is supposed to further stabilize within the financial year 2014.