09.11.2017 | Corporate News
VERBIO AG: Results for the first quarter of 2017/2018 in line with expectations
EBITDA of EUR 15.9 million unchanged from the same period in the previous year
Further increase in utilisation of available biodiesel and bioethanol production plant capacity
Leipzig, November 9, 2017 – VERBIO Vereinigte BioEnergie AG reports results for the first three months of the financial year which are almost unchanged compared to the same period in the previous year.
Group revenues increased by 13 percent to EUR 178.2 million compared to the previous year (Q1 2016/2017: EUR 158.0 million). Earnings before interest, taxation, depreciation and amortisation (EBITDA) for the first three months of the financial year 2017/2018 amounted to EUR 15.9 million, almost unchanged from the comparative period in the previous year (Q1 2016/2017: EUR 16.2 million). The Group result before taxation and interest (EBIT) is also approximately unchanged compared to the previous year and amounted to EUR 10.3 million (Q1 2016/2017: EUR 10.8 million). The net result amounted to EUR 7.4 million (Q1 2016/2017: EUR 7.4 million). Based on the result for the period, earnings per share are EUR 0.12 (Q1 2016/2017: EUR 0.12).
Development of the Biodiesel and Bioethanol segments
The results in the first quarter of the financial year 2017/2018 compared to the same period in the previous year were primarily driven by lower Biodiesel margins, while higher margins were achieved for Bioethanol in the first quarter of 2017/2018. Production plant utilisation was high in both the Biodiesel and the Bioethanol segments. The production volume of biodiesel and bioeth-anol in the period from July 1, 2017 to September 30, 2017 totalled 183,663 tonnes, compared to 176,767 tonnes in the same period in the previous year. In addition, 131.1 GWh of biomethane were produced in the first three months of the financial year 2017/2018 (Q1 2016/2017: 141.5 GWh). The lower level of biomethane production is due to fire damage at the Company’s plant at Schwedt/Oder. The damage has been repaired in the meantime.
Construction of a 10 MW straw biomethane plant has commenced at the Pinnow plant. The new plant is expected to commence commercial production during the second half of 2018.
Detailed information on business developments in the first three months of the 2017/2018 finan-cial year are provided in the quarterly interim statement for the period ended September 30, 2017. The report can be viewed from 9 a.m. on VERBIO’s website at www.verbio.de.
Information about VERBIO Vereinigte BioEnergie AG (VERBIO)
VERBIO is one of the leading independent producers and suppliers of biofuels, and is also the only large-scale producer of biodiesel, bioethanol and biomethane in Europe. The annual production capacity amounts to approximately 470,000 tonnes of biodiesel, 260,000 tonnes of bioethanol and 600 gigawatt hours of biomethane. The Company produces its highly efficient fuels using internally generated, energy efficient production processes and innovative technologies. VERBIO’s biofuels achieve CO2 reductions of up to 90 percent compared to petrol or diesel. VERBIO delivers its products directly to European oil companies, oil trading companies, independent filling stations, freight forwarders, municipal utilities and vehicle fleets. In addition, VERBIO markets high-quality pharma glycerine for the consumer goods and cosmetics industry (glycerine is manufactured as a by-product in the biodiesel production process). Within the Group, VERBIO Vereinigte BioEnergie AG acts as a management holding company. The operative business is conducted by the subsidiaries VERBIO Diesel Bitterfeld GmbH & Co. KG, VERBIO Diesel Schwedt GmbH & Co. KG, VERBIO Ethanol Schwedt GmbH & Co. KG, VERBIO Ethanol Zörbig GmbH & Co. KG and VERBIO Agrar GmbH. The VERBIO share (ISIN DE000A0JL9W6/WKN A0JL9W) has been listed in the prime standard segment of the Frankfurt Stock Exchange since October 2006.
This publication contains forward-looking statements which are based on assumptions and estimates made by the management of VERBIO Vereinigte BioEnergie AG. Although the Company’s management is of the opinion that those assumptions and estimations are realistic, actual future developments and actual future results may differ significantly from these assumptions and estimates due to a variety of factors. For example, these factors can include changes to the overall economic climate, changes to the legal and regulatory framework in Germany and the EU, and changes in the industry. VERBIO can give no guarantee and accepts no liability as to whether future development and the results actually achieved in future will match the assumptions and estimates made in this publication.
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