farmatic biotech energy ag
farmatic biot. energy ag english
farmatic biotech energy ag corrects expectations
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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farmatic biotech energy ag corrects expectations
Nortorf, September 19, 2002. As part of the restructuring of the Management
Board of farmatic biotech energy ag (SIN 605192), the Supervisory Board elected
by the General Meeting in August has conducted a review of the companys current
situation in coopera-tion with the Management Board. One of the results of this
analysis is a correction of the companys expected sales and earnings figures for
the current fiscal year. Sales are expected to be much lower than previously
assumed. This is due to more rigorous planning permission procedures introduced
by recent federal emission regulations, which are both costly and time-consuming
for the company. Furthermore there have been delays in the construction of
certain plants and a need to increase provisions for former business
transactions. The Management Board now expects a negative EBIT amounting to –
15,4 million euros. The companys liquidity position, however, is viewed by both
the Supervisory and Management Boards as being sound.
In cooperation with the Management Board, the Supervisory Board has introduced a
range of comprehensive restructuring measures. These measures, including a re-
organization of the Group, will result in improved earnings in the coming year.
Further details concerning the companys future alignment are to be announced in
late autumn.
end of ad-hoc-announcement (c)DGAP 19.09.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Based in Nortorf, Germany, farmatic biotech energy ag is one of the leading
companies for the industrial conversion of biomass into biogas for the
production of regenerative energy. In its Bio-Power Plant Technology division
farmatic is engaged in the develop-ment, planning and construction of midsized
and large industrially-operated biogas power plants. These power plants are
either operated by farmatic itself or in cooperation with other companies. The
companys Sewage Treatment Technology division comprises the development,
planning and construction of biological waste water purification plants.
farmatic has been listed in the Neuer Markt segment of the German stock ex-
change since April 9, 2001 (SIN 605192).
Please contact Ms. Margitta Kley (Corporate Communications) for all further
details.
Phone: +49 (4392) 9177-128, Fax: +49 (4392) 9177-297, E-mail: ir@farmatic.com
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WKN: 605192 ; ISIN: DE0006051923; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart;
191930 Sep 02
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