VERBIO increased revenues by nearly 260 million Euros and generated a positive result in 2008. Authoritative forecast for fiscal year 2009 presently not possible

Leipzig, 23 March 2009 – In the financial year 2008 VERBIO achieved consolidated revenues in the amount of EUR 666.6 million (2007: EUR 408.0 million). Due to demand and price effects, revenues were 63.4 percent or EUR 258.6 million over the prior year’s amount. Although the increased taxation of pure biodiesel (B100) in 2008 from 9 cents per liter to 15 cents per liter put heavy pressure on the biodiesel market, demand for bio fuels in total remained stable, so VERBIO was able to profit from the increased sales prices and relatively stable raw material prices.

The consolidated operating result amounts to EUR 13.9 million (prior year: EUR -257.5 million). The result before income taxes (EBT) amounts to EUR 11.2 million (2007: EUR -259.7 million); the result after taxes is EUR 9.1 million (2007: -246.4 million). This results in earnings per share (diluted and undiluted) of EUR 0.15 (2007: EUR -3.91 per share). In prior year consolidated operating result was negatively affected by one-time non-cash write downs of EUR 257.0 million.

Outlook

The Management Board expects a sustainable and significant improvement of the situation in the biofuel industry and the business of VERBIO taking effects of the Sustainability Ordinance from the year 2011. This is particularly because VERBIO is regarding to the requested greenhouse gas reduction standards already today well prepared.  

The first quarter of 2009 is on both fundamental segments characterized by a strong fall in demand and extensive price pressure. For this reason an authoritative forecast for the fiscal year 2009 according to revenues and result is presently not possible.

Contact:

VERBIO Vereinigte BioEnergie AG
Anna-Maria Schneider (Investor Relations)
Sandra Haacker (Public Relations)
Augustusplatz 9
04109 Leipzig

Phone: +49 341 30853090
Fax: +49 341 30853099

Information on VERBIO Vereinigte BioEnergie AG

The VERBIO Group is one of the leading producers and suppliers of biofuels and also the only industrial-scale producer of biodiesel and bioethanol in Europe. Nominal capacity currently amounts to around 450,000 tons of biodiesel and 300,000 tons of bioethanol per year. The company has developed its own processes and innovative technologies for the production of biodiesel and bioethanol. It supplies its products directly to European mineral oil corporations, mineral oil traders, independent gas stations and haulage companies. VERBIO AG also markets high-quality pharmaglycerin for the consumer goods and cosmetic industries (glycerin is a by-product of biodiesel production). Within the Group, VERBIO AG acts as the management holding company. The Group’s operating business is run by its subsidiaries: VERBIO Diesel Bitterfeld GmbH & Co. KG, VERBIO Diesel Schwedt GmbH & Co. KG, VERBIO Ethanol Zörbig GmbH & Co. KG and VERBIO Ethanol Schwedt GmbH & Co. KG.

Important Note

This ad hoc announcement contains forward-looking statements, which are based on assumptions and estimates of the company management of VERBIO Vereinigte BioEnergie AG. Even though the company management believes that these assumptions and estimates are correct, the actual future development and actual future results can deviate substantially from these assumptions and estimates due to many factors. For example, these factors can include alteration of the economic situation, legal and regulatory constraints in Germany and the EU, and changes in the industry. VERBIO assumes no liability and provides no warranty that future developments and actual future results will agree with the assumptions and estimates expressed in this ad hoc announcement.