AEB has compiled its half-year results for the first six months of 2015. These were adopted by the Supervisory Board on 17 August. The results of € 4.5 million up to and including June were better than expected.
Result of recovery operation following the fire
The two waste-processing lines that were damaged by fire in November 2014 are now functioning stably again. On 4 March 2015, one of the two affected lines was successfully put into ‘semi-automatic’ operation after close consultation with the insurer. This enabled AEB to lower its insurance claim and policy excess. This line returned to normal operation without issues on 25 May 2015, while the other affected line had already recommenced on 25 April 2015.
2015–2018 Multi-year Plan on track
The recovery operation demanded considerable efforts from the organisation during the first six months of 2015. In total, it cost more than 170,000 man-hours. Nevertheless, we also managed to maintain the course set out in the 2015–2018 Multi-year Plan. In order to be able to implement the plan successfully, the organisation has changed from a functional operation to a process-oriented operation with business units.
International interest in our Waste-Fired Power Plant technology remains high, particularly from China. In March of this year, this resulted in a Memorandum of Understanding between AEB and the Shenzhen Energy Environment Engineering Co. with a view to implementing our technology in Shenzhen.
The difficult market conditions we experienced in 2014 did not substantially improve in the first six months of 2015.
Results to 30 June 2015
The results to 30 June 2015 were better than expected, due in particular to the good performance of the Waste-Fired Power Plant. Net turnover was higher in the first half year because the loss of revenue caused by the fire was lower than expected.