- EBITDA increased by 50 percent to EUR 75.8 million in the first nine months of the financial year 2016/2017
- Production of biodiesel, bioethanol and biomethane increased further
Leipzig, May 11, 2017, - 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, alt-hough in the third quarter of the current financial year it was not possible to maintain the trend at quite the same level as in the second quarter.
Group revenues increased by 12 percent to EUR 538.8 million compared to the same period in the previous year (9 M 2015/2016: EUR 479.4 million). Earnings before interest, taxation, depre-ciation and amortisation (EBITDA) for the nine-month period amounted to EUR 75.8 million, 50 percent ahead of the comparative period in the previous year (9 M 2015/2016: EUR 50.5 million). The Group result before taxation and interest (EBIT) in the same period amounted to EUR 59.7 million, an increase of 71 percent (9 M 2015/2016: EUR 34.9 million). The Group result before tax (EBT) totals EUR 59.1 million (9 M 2015/2016: EUR 33.8 million), and the net result for the period is EUR 40.9 million (9 M 2015/2016: EUR 26.1 million). Based on the result for the period, earnings per share is EUR 0.65 (9 M 2015/2016: EUR 0.41).
Development of the Biodiesel, Bioethanol and Other segments
Earnings growth in the first nine months of the current financial year was driven by high margins, increased production volumes of biodiesel and bioethanol and higher production capacity utilisa-tion of the biomethane production plants. Margins in the Biodiesel segment were lower in the third quarter of the current financial year compared to the second quarter of 2016/2017, whereby earnings in the third quarter of the current financial year were significantly improved compared to the same quarter in the previous year. The production volume of biodiesel and bioethanol in the period from July 1, 2016 to March 31, 2017 totalled 539,801 tonnes, compared to 510,130 tonnes in the same period in the previous year. In addition, 416.8 GWh of biomethane were produced in the first nine months of the financial year 2016/2017 (9 M 2015/2016: 396.5 GWh), an increase of 5 percent compared to the same period in the previous year.
Detailed information on business developments in the first nine months of the 2016/2017 financial year are provided in the quarterly interim statement for the period ended March 31, 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 pharmaceutical glycerine for the consumer goods and cosmetics industry (glycerine is produced as a by-product in the production of biodiesel) as well as animal feed and fertiliser, a by-product of bioethanol and biomethane production. 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, VERBIO Agrar GmbH, VERBIO Logistik GmbH and VERBIO Polska Sp. z o.o. 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 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.