Schmack Biogas presents figures for 2006

- Sales climb 164% to EUR 90 million
- EBIT of EUR 4.4 million
- Successful development into an integrated biogas company

Schwandorf, April 26, 2007.
The figures for the fiscal year 2006 presented by Schmack Biogas AG at today’s annual accounts press conference in Munich illustrate the excellent development of the company and the sustained growth in the biogas market as a whole. As one of the leading companies in the biogas industry, Schmack boosted its sales by 163.7% to EUR 90 million, up from the previous year’s EUR 34.1 million. Earnings figures also increased noticeably. Earnings before interest and taxes climbed by approx. 330% from the previous year’s EUR 1.0 million (adjusted for special effects) to EUR 4.4 million.

Ulrich Schmack, founder and Chairman of the Management Board, said: “We are highly satisfied with the development in the fiscal year 2006. We reached our earnings targets despite the fast pace of growth and the related investments. In particular, we should mention that by way of important acquisitions, we have clearly expanded our position as the market and technology leader and that our new division, Own Operations, was able to form cooperations with renowned partners. This has paved the way for a positive development in the coming years.”

Schmack Biogas has acquired interests in companies with substantial expertise in component products and technological processes such as CarboTech Engineering, Stelzenberger and Köhler & Ziegler Anlagentechnik and in one of its main competitors, Hese Biogas. In addition, Schmack Biogas has established two joint ventures with Erdgas Südbayern and Regensburg-based REWAG, which will invest a total of approx. EUR 80 million in the construction and operation of own biogas plants and the marketing of the energy produced over the next five years. “To remain competitive in the market in the long term, we need an integrated company that can offer its customers comprehensive solutions. The strategic course toward this goal has been set in the past months. The fact that we are increasingly becoming an energy producer additionally underlines the viability of this overall concept and our integrated approach.”

The figures in detail

The business division Planning and Construction made by far the largest contribution to last year’s sales.

On the earnings side, Schmack Biogas improved EBITDA (earnings before interest, taxes, depreciation and amortisation) from EUR 1.4 million to EUR 5.3 million. Earnings before tax increased by 375% to EUR 4.4 million (previous year: EUR 0.9 million adjusted for special effects). Due to tax effects resulting from the use of losses carried forward, the net profit for the year after taxes amounts to only EUR 1.3 million compared to EUR 2.5 million in the prior year. This result translates into earnings per share of EUR 0.34.

Outlook

Dr. Alexander Götz, CFO of Schmack Biogas AG, said: “We achieved clear improvements in all our key figures and ratios in 2006. Nevertheless we remain resolved to further improve our margins both in the current financial year and in the subsequent periods. Our medium term goal is to raise our EBIT margin to clearly above 5%.” Schmack Biogas AG’s 2007 forecast envisages sales revenues between EUR 150 million and 170 million, with EBIT rising ahead of sales to at least EUR 10 million.

Schmack Biogas AG:
Schmack Biogas AG is a leading German supplier of biogas plants. Established in 1995, the company provides its services through two divisions, namely Planning and Construction and Service and Operation, and is one of the few full-service providers in the industry. Apart from technical support, the company focuses on comprehensive microbiological service.
Through its newly established subsidiary, Schmack Energie Holding, the company now also invests in the operation of own biogas plants.
To date, Schmack Biogas has built and serviced 179 plants with a combined nominal output of 45 MW.

Contact:
i.V. Markus Meyr
Head of Marketing/Investor Relations

Schmack Biogas AG
Bayernwerk 8
D-92421 Schwandorf
Tel.: +49 (0) 9431/751-111
Fax: +49 (0) 9431/751-5111
Internet: www.schmack-biogas.com



Schmack Biogas AG / pressbot.net

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Firma	:	Schmack Biogas AG
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26.04.2007 - 0:00 pressbot.net | 1158 X