Zhongde Waste Technology Ag reported group earnings results for the first quarter ended March 31, 2015. In the first quarter of 2015, the company continued to push forward the progress of its BOT and EPC projects, which is reflected in the improved financial results of the first quarter. Total group revenues amounted to €5.6 million and are therewith over five times higher than in the first quarter of 2014 of €1.1 million. While the BOT projects contributed the large part with revenues of €4.9 million against €0.6 million last year, the EPC projects contributed €0.7 million against €0.5 million last year. LBITDA improved to €0.6 million compared to €1.1 million last year. LBIT went up from €1.4 million to €1.0 million in the first quarter of 2015. The main reason for the significant growth in EBIT was the higher net proceeds from trial runs resulting in an increased other operating income of €0.7 million against €0.2 million last year. Also net loss improved by €0.1 million to €2.2 million against net loss of €2.3 million last year.

The company confirmed outlook for the full year of 2015. In summary, the company expects that the coming quarters 2015 will still remain a transition period. Nevertheless, revenues and other results are expected to increase compared to the corresponding quarters in 2014.