PETROTEC AG / Key word(s): Profit Warning/Half Year Results
06.08.2014 22:08

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Ad hoc acc. to §15 WpHG

Petrotec lowers forecast for EBIT-margin for 2014

Borken, August 6th, 2014 - Petrotec AG (ISIN DE000PET1111), the largest European producer of waste-derived biodiesel, predominantly from used cooking oil, adjusts its forecast of the EBIT-margin for the business year 2014 given in March (with publication of the group financial figures 2013) and referred to in the corporate news published May the 14th 2014.
In the latter, the management assessed the company to be able to meet only the lower range of the guidance it has published in the annual report 2013 and emphasized the overall likelihood to meet the guidance to be reduced. In the original guideline given in March 2014 with the publication of the 2013 annual results, management expected sales of between EUR 150 mill. and EUR 220 mill. and an EBIT-margin of 2%-4%.

Due to a short term decreasing trend of the UCOME prices following the decrease in the FAME0 margin over gasoil, the company expects a relative weak third quarter. Having to secure its plants' continuous operations, the company often purchases feedstock in advance to its actual production and sales. In weak market conditions, with soft demand for its product, this might result in eventually capturing lower than initially anticipated margins on the purchased feedstock.

Considering those market conditions, the management still expects sales to be in the range of the provided original guideline, however sees a high probability that a positive EBIT for the year 2014 can no longer be achieved.

Petrotec will, as planned, publish its second quarter financial results on August 13th, 2014.

Disclaimer

This ad hoc notification contains forward looking statements, which are based on assumptions and estimates of the management of Petrotec AG. Although Petrotec management believes that these assumptions and estimates are correct, actual future developments and results can deviate substantially from these assumptions and estimates due to many factors. These factors can include alteration of the economic situation, legal and regulatory constraints in Germany and the EU, and changes in Petrotec's general business and competitive environment. Petrotec assumes no liability and provides no warranty that future developments and actual future results will conform with the assumptions and estimates expressed in this ad hoc notification.

About Petrotec

Petrotec AG, Germany, is the largest European producer of waste-derived biodiesel, mainly based on used cooking oil. The Company owns an overall nominal production capacity of 185,000 tons per year at two locations in Germany. Petrotec runs a vertically integrated business model including own collection of used cooking oil from more than 15,000 collection points, treatment and refining of the raw material up to the technologically demanding production of waste-based biodiesel. The Company sells its biodiesel primarily to large mineral oil companies in northwest Europe. The usage of waste based biodiesel enjoys a preferential double counting scheme granted by major EU countries as part of the mandatory blending quotas. Petrotec's EcoPremium biodiesel provides significant environmental and climate advantages with the highest CO2 emission reduction of 83% (compared with fossil diesel) amongst all biofuels approved by the EU Renewable Energy Directive (2009/28/EC). Since its IPO in 2006, Petrotec cleaned more than 800,000 tons of waste and saved over 2.5 million tons of CO2 emissions. Petrotec is a public listed company (ISIN DE000PET1111) in the regulated market of Frankfurt Stock Exchange, in the Prime Standard segment, complying with high international transparency standards. It has a capital stock of 24,543,741 Euro, equaling 24,543,741 shares. Main shareholder is IC Green Energy Ltd., Israel, with a stake of 69 percent, freefloat is approx. 18 percent. In the business year 2013 (Jan. 1st to Dec. 31st) Petrotec reached sales of EUR 193 mill. and generated an EBIT of EUR 4.9 mill. and a net profit of EUR 4.0 mill. The Company employs about 112 employees.

Press contact

Petrotec AG

Vera Berlin

Investor Relations 

Tel.: +49 (0) 2862 910080

ir@petrotec.de


06.08.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      PETROTEC AG
              Fürst-zu- Salm-Salm-Str. 18
              46325 Borken-Burlo
              Germany
Phone:        +49 (0)2862 9100 19
Fax:          +49 (0)2862 9100 99
E-mail:       info@petrotec.de
Internet:     www.petrotec.de
ISIN:         DE000PET1111
WKN:          PET111
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart  
End of Announcement DGAP News-Service  

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