Zhongde Waste Technology Ag reported earnings results for the year 2012. For the period, the company’s revenues decreased to €24.8 million, gross profit went down by 62.0% to €1.6 million. The company expects to benefit from the favorable economic environment in China for eco-friendly waste disposal in the future. In the fiscal year 2012 revenues decreased was mainly influenced by the fact that the construction progress of the current EPC projects Dingzhou and Zhucheng was suspended according to the requirements of the owners and the fact that the construction progress of BOT (Build, Operate and Transfer) projects was slower than planned, mainly due to delays in obtaining required government approvals. LBIT went down by 62.4% to €12.6 million. Net loss was €12.2 million against €10.7 million a year ago.

Zhongde Waste Technology Ag, 2012 Earnings Call, Apr 29, 2013

Zhongde Waste Technology Ag reported earnings results for the third quarter and nine months of 2012. For the third quarter, the company's revenue increased by 15.8% to EUR 7.4 million in the third quarter 2012 as a result of the progress on the Kunming and Xianning BOT projects. Adjusted for the positive one-off effects, LBITDA was EUR 0.9 million compared to EUR 1.2 million. Adjusted LBIT was EUR 0.8 million compared to EUR 1.2 million a year ago. Including the one-off effects EBIT increased to EUR 7.0 million compared to LBIT of EUR 1.2 million a year ago and net profit amounted to EUR 6.3 million compared to net loss of EUR 1.8 million a year ago. For the full nine months 2012 net profit reached EUR 2.1 million compared to net loss of EUR 5.1 million a year ago. Despite this positive development, revenues for the first nine months 2012 are still 8.0% below the comparable period 2011. Regarding the financial results, the company's management board confirms its guidance of reaching better overall financial results in 2012 compared to 2011.