First ordinary Shareholders’ Meeting

- since the IPO
-Optimistic outlook on the second half of 2007

Schwandorf, June 22, 2007. At the first ordinary Shareholders’ Meeting of Schmack Biogas AG, the shareholders supported the course of the Management. The six items on the agenda requiring a resolution were approved by a vast majority, including the authorisation to repurchase shares, the adjustment of the authorised capital and the discharge granted to the members of the Management Board and the Supervisory Board.

The Management Board expressed their satisfaction with the business development during the year to date. “In the first three months of 2007, our sales revenues already clearly exceeded the total revenues generated in the first half of 2006. Thereby the first half of a year is always much weaker than the second half for seasonal reasons,” said CEO Ulrich Schmack.

The highlight in the year to date was the start-up of the large plant in Pliening, which feeds gas into the grid. Ulrich Schmack: “This project is of great strategic importance, as we are the first company in Germany to have built a biogas plant of the next generation, which fully relies on the feed-in of gas,” explained Ulrich Schmack. In 2006, the technologically sophisticated plants for energy companies and professional investors already generated some 50 percent of the company’s sales revenues.

On the occasion of the Shareholders’ Meeting, the new Management Board members, Dr. Guido Zimmermann and Dr. Karl Kolmsee, were introduced to the shareholders for the first time. In his capacity as Chief Operating Officer (COO), Dr. Zimmermann will primarily be responsible for project planning and construction as well as start-up and service. Dr. Kolmsee will take charge of the newly created sales department. Apart from sales, he will mainly be responsible for the company’s international activities. He will take on his task with effect from July 1. “We are looking forward to working with our new fellow Board members,” said CFO Dr. Alexander Götz. “In this connection it should not be forgotten that we have almost tripled our headcount in the course of only one year. Today, we employ over 400 people. We have thus implemented the structures our company needs to handle the fast sales growth over the coming years and to generate stable and sustainable earnings.”

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 Plant Management and Service, 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 179 plants with a combined nominal output of approx. 45 MW.

Contact:
Schmack Biogas AG
Markus Meyr
Tel: +49 (0) 9431 / 751-111
markus.meyr@schmack-biogas.com

Haubrok Investor Relations
Frank Ostermair / Michael Müller
Tel: +49 (0) 89 / 461347-10
f.ostermair@haubrok.de

Source: Schmack Biogas AG on pressbot.net | Date: 11.07.2007 - 0:00 | 2166 times read