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Freitag, 29.04.2016 22:35 von PR Newswire | Aufrufe: 22

Tantech Holdings Ltd. Announces Full Year 2015 Financial Results

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PR Newswire

LISHUI, China, April 29, 2016

LISHUI, China, April 29, 2016 /PRNewswire/-- Tantech Holdings Ltd. (NASDAQ:TANH), ("Tantech" or the "Company"), a leading manufacturer of bamboo-based charcoal products, today announced its financial results for the fiscal year ended December 31, 2015.

Full Year 2015 Financial Highlights

For the Twelve Months Ended December 31,

($ millions, except per share data)

2015

2014

% Change

ARIVA.DE Börsen-Geflüster

Kurse

Tantech Holdings

0,00%

Revenues

$58.8

$65.5

-10.2%

Consumer product

$43.2

$53.1

-18.5%

Trading

$3.6

$3.0

19.4%

Energy

$12.0

$9.4

27.3%

Gross profit

$16.9

$20.6

-18.2%

Gross margin

28.7%

31.5%

-2.8%

Operating margin

17.4%

26.2%

-8.8%

Net income attributable to stockholders

$8.4

$14.0

-39.6%

Basic/ Diluted earnings per share

$0.40

$0.33

19.0%

Total revenues decreased by 10.2% to $58.8 million mainly due to weakness in consume products segment which was partially offset by growth from trading and energy segments.
Revenues for energy segment increased by 27.3% to $12.0 million, or 20.4% of total revenues, mainly due to strong EDLC carbon sales which increased by 31.9% to $11.4 million.
Net income attributable to stockholders was $8.4 million, or $0.40 per share, compared to $14.0 million, or $0.33 per share for the same period of last year.

Mr. Zhengyu Wang, Chairman and Chief Executive Officer of Tantech, commented, "2015 marks our total revenues decreasing by 10.2% to $58.8 million as economic headwinds took a toll on our consumer products business that declined by 18.5% year-over-year. However, our energy business, primarily comprised of EDLC carbon, remained a bright spot of our businesses with sales growing by 27.3% to $12.0 million in 2015. Our trading business also grew at a healthy clip, up by 19.4% to $3.6 million in 2015."

Mr. Wang continued, "While the economic headwinds facing our consumer products business are likely to continue in the near future, we are very excited about the long-term prospects of the Company as we focus on the research and development of batteries, powertrain and take strategic initiatives to expand into new segments such as specialty new energy vehicles. Barring any unforeseen issues, we expect to complete the acquisition of Suzhou E Motors Co., Ltd. in the near future. The recent establishment of Tantech New Energy Vehicle Institute was another step taken by us to fulfill the aspiration to transform the Company into a vertically integrated player across the specialty new energy vehicle value chain. We look forward to an exciting year for Tantech in 2016."

Full Year 2015 Financial Results

Revenues

Total revenues decreased by $6.7 million, or 10.2%, to $58.8 million for the twelve months ended December 31, 2015 from $65.5 million for the same period of last year. The decrease was primarily attributable to the decreased sales from the consumer product segment and partially offset by increased sales from the trading and energy segments.

	For the Twelve Months Ended December 31,
	2015			2014
	Revenues ($'000)	Gross Profit ($'000)	Gross Margin (%)	Revenues ($'000)	Gross Profit ($'000)	Gross Margin (%)
Consumer product	43,235	14,616	33.8%	53,052	18,227	34.4%
Trading	3,579	116	3.2%	2,999	63	2.1%
Energy	12,015	2,150	17.9%	9,442	2,350	24.9%
Total	58,830	16,882	28.7%	65,493	20,640	31.5%

Revenues for consumer product segment decreased by $9.9 million, or 18.5%, to $43.2 million for the twelve months ended December 31, 2015 from $53.1 million for the same period of last year. The decrease was primarily attributable to decreased sales of barbecue charcoal for domestic market, deodorizer and bamboo vinegar. In particular, revenues from barbecue charcoal for domestic market decreased by $4.9 million in 2015 primarily attributable to the temporary disruption in supply of barbecue charcoal in the last two months of 2015. The sales of bamboo vinegar also decreased in 2015 due to weak demand. We sold 4.4 million pieces of air purification products and 7.7 million pieces of deodorization products for the twelve months ended December 31, 2015, compared to 4.9 million and 7.9 million pieces, respectively, for the same period of last year. The average selling prices of air purification increased by 11.9% while the average selling price of deodorizer decreased by 6.7% for the twelve months ended December 31, 2015 compared to the same period of last year.

Revenues for trading segment increased by $0.6 million, or 19.4%, to $3.6 million for the twelve months ended December 31, 2015 from $3.0 million for the same period of last year. This increase was related to one of our major customers.

Revenues for energy segment increased by $2.6 million, or 27.3%, to $12.0 million for the twelve months ended December 31, 2015 from $9.4 million for the same period of last year. The increase was primarily attributable to increased sales of EDLC carbon for the twelve months ended December 31, 2015. We sold 367 tons of EDLC carbon for the twelve months ended December 31, 2015, compared to 280 tons for the same period of last year. The average selling price of EDLC carbon also increased slightly to $31,028 per ton for the twelve months ended December 31, 2015 from $30,860 per ton for the same period of last year.

Cost of revenues

Total cost of revenues decreased by $2.9 million, or 6.5%, to $41.9 million for the twelve months ended December 31, 2015 from $44.9 million for the same period of last year. As a percentage of revenues, the cost of revenue increased by 2.8 percentage points to 71.3% for the twelve months ended December 31, 2015 from 68.5% for the same period of last year. The increase in cost of revenues as a percentage of revenues in 2015 was primarily attributable to the increased material costs of air purification and deodorizer products. In addition, cost of revenues in our energy segment increased 39.1% compared to 2014 due to higher purchasing price of bamboo charcoal used in our production of consumer products and EDLC carbon in 2015.

Gross profit

Total gross profit decreased by $3.8 million, or 18.2%, to $16.9 million for the twelve months ended December 31, 2015 from $20.6 million for the same period of last year. Gross margin was 28.7% for the twelve months ended December 31, 2015, compared to 31.5% for the same period of last year. On a segment basis, gross margins for consumer product, trading, and energy were 33.8%, 3.2%, and 17.9%, respectively, for the twelve months ended December 31, 2015, compared to 34.4%, 2.1%, and 24.9%, respectively, for the same period of last year.

Operating expenses

Selling expenses decreased by $0.2 million, or 20.5%, to $0.9 million for the twelve months ended December 31, 2015 from $1.1 million for the same period of last year. As a percentage of revenues, selling expenses decreased to 1.5% of revenues for the twelve months ended December 31, 2015, as compared to 1.7% for the same period of last year. The decrease was primarily attributable to lower promotion expenses, export expenses and shipping & handling expenses for the twelve months ended December 31, 2015 as compared to the same period of last year.

General and administrative expenses increased by $3.1 million, or 188.2%, to $4.7 million for the twelve months ended December 31, 2015 from $1.6 million for the same period of last year. As a percentage of revenues, general and administrative expenses was 8.0% for the twelve months ended December 31, 2015 as compared to 2.5% for the same period of last year. The increase was primarily attributable to an increase in bad expenses related to accounts receivable of $2.3 million and an increase in professional fees related to being a public company of $0.9 million.

Research and development expenses increased by $0.3 million, or 45.4%, to $1.1 million for the twelve months ended December 31, 2015 from $0.7 million for the same period of last year. The increase was attributable to the expenditure of $0.5 million related to our sponsored R&D project in 2015.

Total operating expenses increased by $3.2 million, or 92.4%, to $6.7 million for the twelve months ended December 31, 2015 from $3.5 million for the same period of last year, mainly due to increase in general and administrative expenses as afore mentioned.

Operating income

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