- EBITDA increased by 11 percent to EUR 16.2 million compared to the same period in the previous year
- Production utilisation at close to full capacity, new biodiesel and biomethane production records
Leipzig, November 10, 2016 – VERBIO Vereinigte BioEnergie AG reports improved results for the first three months of the financial year compared to the same period in the previous year.
Group revenues increased by 1 percent to EUR 158.0 million compared to the previous year (Q1 2015/2016: EUR 155.9 million). Earnings before interest, taxation, depreciation and amortisation (EBITDA) for the first three months of the financial year 2016/2017 amounted to EUR 16.2 million, 11 percent ahead of the comparative period in the previous year (Q1 2015/2016: EUR 14.6 million). The Group result before taxation and interest (EBIT) in the same period amounted to EUR 10.8 million, an increase of 15 percent (Q1 2015/2016: EUR 9.4 million). The result for the period, net of a significantly higher effective tax rate for the group, amounted to EUR 7.4 million (Q1 2015/2016: EUR 7.9 million). Based on the result for the period, earnings per share are EUR 0.12 (Q1 2015/2016: EUR 0.12).
Development of the Biodiesel and Bioethanol segments
The improved results in the first quarter of the financial year 2016/2017 compared to the same period in the previous year were primarily driven by higher Biodiesel margins. On the other hand, lower margins were achieved for Bioethanol in the first quarter of 2016/2017. Production plant utilisation was high in both the Biodiesel and the Bioethanol (including Biomethane) segments. The production volume of biodiesel and bioethanol in the period from July 1, 2016 to September 30, 2016 totalled 176,767 tonnes, compared to 169,646 tonnes in the same period in the previous year. In addition, 141.5 GWh of biomethane were produced in the first three months of the financial year 2016/2017 (Q1 2015/2016: 132.8 GWh), representing another record and an increase of 7 percent compared to the same period in the previous year.
Depending on the results of the feasibility studies being performed on certain specific locations, VERBIO is planning to construct two new straw biomethane plants in Germany and in India, each with a thermal capacity of approximately 10 MW. Local companies have been formed for this purpose.
Detailed information on business developments in the first three months of the 2016/2017 financial year are provided in the quarterly interim statement for the period ended September 30, 2016. 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.
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 those assumptions and estimates 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.