- EBITDA of EUR 23.8 million, up 43 percent compared to the previous year
- Production of biodiesel and bioethanol up by 8 percent and biomethane up by 21 percent
Leipzig, November 7, 2019 – VERBIO AG reports a significant increase in its results for the first three months of the financial year 2019/2020 compared to the same period in the previous year. Group revenues increased by 23 percent to EUR 210.1 million compared to the previous year (Q1 2018/2019: EUR 170.7 million).
Earnings before interest, taxation, depreciation and amortisation (EBITDA) for the first three months of the financial year 2019/2020 amounted to EUR 23.8 million, significantly higher than in the comparative period in the previous year (Q1 2018/2019: EUR 16.6 million). The Group result before interest and taxes (EBIT) totalled EUR 17.6 million (Q1 2018/2019: EUR 11.0 million). The net result for the period amounted to EUR 12.1 million (Q1 2018/2019: EUR 7.8 million). Based on the result for the period, earnings per share are EUR 0.20 (Q1 2018/2019: EUR 0.12).
Development of the Biodiesel and Bioethanol segments
The first quarter of 2019/2020 was characterised by significant improvements in margins for bioethanol compared to the same period in the previous year, and by a good and stable margin for biodiesel. Capacity utilisation of the production plants in both segments was good, including for the Group’s biomethane plants. The production volume of biodiesel and bioethanol in the period July 1, 2019 to September 30, 2019 increased by 8.5 percent to 195,706 tonnes. The production of biomethane increased by 20.9 percent to 186.7 GWh.
Due to the Group’s ongoing investment activities, total cash outflows in the first three months of 2019/2020 were EUR 31.6 million (Q1 2018/2019: EUR 9.8 million). These primarily related to the planned payments for current investments being made in India, Canada and the USA.
Detailed information on business developments in the first three months of the 2019/2020 financial year are provided in the quarterly interim statement for the period ended September 30, 2019. 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 AG is one of the leading independent bioenergy manufacturers, and is also the only large-scale producer of biodiesel, bioethanol and biomethane in Europe. The Group has approximately 700 employees at its locations in Saxony, Saxony-Anhalt and Brandenburg as well as at its foreign subsidiaries in India, the USA, Canada, Poland and Hungary. VERBIO concentrates on the use of internally developed innovative and efficient energy saving production processes. VERBIO’s biofuels achieve CO2 savings of up to 90 percent compared to petrol or diesel. The Group’s annual production capacity amounts to approximately 660,000 tonnes of biodiesel, 260,000 tonnes of bioethanol and 750 gigawatt hours of biomethane. In addition, VERBIO manufactures biofertiliser and animal feed for agricultural use as well as high-value raw materials for the pharmaceutical, cosmetic and foodstuff industries. With its innovative processes and highly efficient production plants, VERBIO is a technology leader in the biofuels market. The VERBIO share (ISIN DE000A0JL9W6/WKN A0JL9W) has been listed in the prime standard segment of the Frankfurt Stock Exchange since October 2006.
Important notice
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 these 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 guarantees and accepts no liability as to whether future developments and the results actually achieved in future will match the assumptions and estimates made in this publication.