Zhongde Waste Technology AG revised earnings guidance for the year 2016 and provided earnings guidance for the year 2017. On the basis preliminary calculations for nine months of 2016 and the current business development, the company revised its full year 2016 outlook. Mainly due to an increase of bad debt allowances amounting to EUR 4.0 million, 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 the year 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 EUR 12.0 million was already paid. The remaining payment of around EUR 110.0 million is due until first quarter of 2017. Accordingly, The company anticipates a significant positive effect on the financial results in 2017.