DGAP-Ad hoc: ZhongDe Waste Technology AG

DGAP-Adhoc: ZhongDe Waste Technology AG revises guidance

ZhongDe Waste Technology AG / Key word(s): Change in Forecast

24.11.2016 15:23

Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Insider Information according to Article 17 MAR

ZhongDe Waste Technology AG revises guidance

Frankfurt, November 24, 2016 - On the basis preliminary calculations for 9M 2016 and the current business development, ZhongDe revises its full year 2016 outlook. Mainly due to an increase of bad debt allowances amounting to 4.0 million Euros, the full-year EBITDA of the group is expected to remain negative. In the half-year report the Management Board had still confirmed the outlook given in the annual report 2015 predicting that EBITDA will turn into positive due to a rapid revenue growth in 2016. All other aspects of the outlook 2016 remain unchanged.

For 2017 the Management expects a positive impact from the sale of ZhongDe's subsidiary Chung Hua to the CAPITAL YIELD GROUP LIMITED in October 2016. The first tranche of the purchase price amounting to 12.0 million Euros was already paid. The remaining payment of around 110.0 millions Euros is due until Q1 2017. Accordingly, ZhongDe anticipates a significant positive effect on the financial results in 2017.

ZhongDe will present its Q3 interim statement on November 28, 2016.

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Information and Explanation of the Issuer to this News:

About ZhongDe Group

ZhongDe Group designs, invests, constructs, finances and operates energy- from-waste plants generating electricity from the incineration of solid municipal and industrial waste. ZhongDe realizes either EPC (Engineering, Procurement and Construction) or BOT (Build, Operate and Transfer) projects, focusing on large-scale plants with waste disposal capacities of around 1,000 tons per day. Since 1996, ZhongDe Group has installed approximately 200 waste incinerators in 13 provinces throughout China. ZhongDe is one of the leading players in the project development and operation of energy-from-waste plants in China.

Contact

ZhongDe Waste Technology AG Messeturm 25th floor Friedrich-Ebert-Anlage 49 60308 Frankfurt Tel.: +49 (0) 69 50956 5655 Fax: +49 (0) 69 50956 5520 Email: david@zhongdetech.com

24.11.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

--------------------------------------------------------------------------- Language: English Company: ZhongDe Waste Technology AG Messeturm 25th floor 60308 Frankfurt Germany Phone: + 49 69 50956 5655 Fax: + 49 69 50956 5520 E-mail: Internet: www.zhongde-ag.de ISIN: DE000ZDWT018 WKN: ZDWT01 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News-Service ---------------------------------------------------------------------------