BKN BioKraftstoff Nord AG / AGM/EGM
10.03.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
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Sprakensehl-Bokel/Hamburg, March 10, 2008 - Last Friday at its first public
AGM since the Initial Public Offering, the shareholders of BKN
BioKraftstoff Nord AG concluded a comprehensive agenda with almost
unanimous resolutions.
Renaming and registered office relocation of the company agreed
On the proposal of the Managing Board and the Supervisory Board, the
shareholders' meeting passed a resolution to change the company's name to
'BKN biostrom AG' and transfer the company's registered office of
Sprakensehl-Bokel to Vechta. As a result the company's new strategic
orientation has been taken into account, as its biogas subsidiary, BIOSTROM
Energy Group AG, already conducts its operating business at this location
and its importance in the Group should also be correspondingly recognised
in the name of the company.
Extraordinary election to the Supervisory Board
Because of the exit of the current member of the Supervisory Board, Mr.
Heinrich Wolter, an extraordinary election was required. The shareholder's
meeting thus elected Mr. Wolff Lange, Hamburg, as a new member of the
Supervisory Board. Among other duties, Mr. Lange is also a member of the
Supervisory Board of Jungheinrich AG, Hamburg, and Chairman of the
Supervisory Board of Kühlhaus Zentrum AG, Hamburg.
Considerable sales and earnings increases in the 2006/2007 fiscal year
The Managing Board was able to report of a very successful business
performance in the last fiscal year. BKN achieved earnings before interest
and taxes (EBIT) of EUR 2.145 m in 2006/07 in accordance with IFRS with
Group sales of EUR 20.746 m. Net income amounted to EUR 1.984 m,
corresponding to earnings per share of EUR 0.26. The margin from the
operating business (EBIT) consequently amounted to 10 %. It is to be
considered here that the initial 75 % stake in BIOSTROM Energy Group AG,
acquired in April 2007, only made a pro-rata earnings contribution in the
reporting year due to the short consolidation period.
Dynamic growth for the current fiscal year confirmed
CEO, Ulrich Wogart, confirmed the strategy geared towards significant
growth for the current 2007/2008 fiscal year. Thus sales should more than
quadruple to around EUR 100 m with an EBIT margin of about 8 %. The basis
for this is the current order backlog of 74 machines with an order volume
totalling EUR 150 m.
Company profile
BKN BioKraftstoff Nord AG is specialised in project development of Biogas
plants and the production of biodiesel. BKN acts as a successful general
developer in the biogas plant market and covers the entire value chain over
the Biostrom Energy Group AG and its operating subsidiaries: The Company
has extensive know-how concerning securing sites, development, permit
acquisition, construction and operation of biogas plants up to efficient
plant management. BKN has specific market expertise with its many years of
experience in supervising biological processes in biogas plants.
BKN BioKraftstoff Nord AG
Ulrich Wogart, CEO
T +49 (0)40 357 188 60
F +49 (0)40 357 188 62
wogart@bkn-ag.de
www.bkn-ag.de
10.03.2008 Financial News transmitted by DGAP
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Language: English
Issuer: BKN BioKraftstoff Nord AG
Große Elbstraße 45
22767 Hamburg
Deutschland
Phone: +49 (0)40 3571 8860
Fax: +49 (0)40 3571 8862
E-mail: info@bkn-ag.de
Internet: www.bkn-ag.de
ISIN: DE000A0LD4M4
WKN: A0LD4M
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry Standard
in Frankfurt
End of News DGAP News-Service
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