- EBITDA increased by 33 percent to EUR 50.5 million in the first nine months of the current financial year 2015/2016
- Earnings in the third quarter 2015/2016 similar to the comparative period of the previous year due to lower margins
Leipzig, May 4, 2016 - VERBIO AG reports significantly improved results for the first nine months of the current financial year compared to the equivalent period in the previous year, although in the third quarter of the current financial year it was not possible to maintain the trend set in the second quarter.
Group revenues increased by 7 percent to EUR 479.4 million compared to the same period in the previous year (9 M 2014/2015: EUR 447.4 million). Earnings before interest, taxation, depreciation and amortisation (EBITDA) for the nine-month period amounted to EUR 50.5 million, 33 percent ahead of the comparative period in the previous year (9 M 2014/2015: EUR 38.1 million). The Group result before taxation and interest (EBIT) in the same period amounted to EUR 34.9 million, an increase of 62 percent (9 M 2014/2015: EUR 21.5 million). The Group result before tax (EBT) totals EUR 33.8 million (9 M 2014/2015: EUR 18.1 million), and the net result for the period is EUR 26.1 million (9 M 2014/2015: EUR 16.6 million). Based on the result for the period, earnings per share is EUR 0.41 (9 M 2014/2015: EUR 0.26).
Development of the Biodiesel, Bioethanol, and Other segments
The primary drivers of earnings growth in the first half year were the high margins for bioethanol, especially in the second quarter, continued high sales volumes in biodiesel and bioethanol, as well as high levels of capacity usage for the biomethane production plant. However, the third quarter of the current financial year was again characterised by significantly lower margins, and accordingly the results in the third quarter of the current financial year were largely comparable with the equivalent period in the previous year. The production volume of biodiesel and bioethanol in the period July 1, 2015 to March 31, 2016 totalled 510,130 tonnes, compared to 510,222 tonnes in the same period in the previous year. In addition, 396.5 GWh of biomethane were produced in the first nine months of the financial year 2015/2016 (9 M 2014/2015: 334.1 GWh), an increase of 19 percent compared to the same period in the previous year.
Detailed information on business developments in the first nine months of the current financial year 2015/2016 are provided in the quarterly statement for the period ended March 31, 2016. The report can be viewed from 9 a.m. on Verbio's website 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 450,000 tonnes of biodiesel, 260,000 tonnes of bioethanol and 480 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 judgements 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 future actual 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.