05.02.2015
VERBIO Vereinigte BioEnergie AG DE000A0JL9W6
DGAP-News: VERBIO Vereinigte BioEnergie AG: VERBIO AG continues earnings growth in second quarter 2014/2015 and raises forecasts
DGAP-News: VERBIO Vereinigte BioEnergie AG / Key word(s): Half Year
Results
VERBIO Vereinigte BioEnergie AG: VERBIO AG continues earnings growth
in second quarter 2014/2015 and raises forecasts
05.02.2015 / 08:00
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VERBIO AG continues earnings growth in second quarter 2014/2015 and raises
forecasts
- EBITDA up 20 percent to EUR 25.9 million in first half-year 2014/2015
- Production of biodiesel and bioethanol increased by 11 percent
- First biomethane from 100% straw fed in to the network
- Prospects for dividend payments
Leipzig, February 5, 2015 - VERBIO AG earnings growth continued in the
first half of the 2014/2015 financial year. The Group's revenues for the
period fell by 27 percent to EUR 307.8 million (1 HY 2013/2014: EUR 420.2
million) compared to the same period in the previous year. The fall was
primarily a result of the lower price levels for biofuels and the lower
level of merchandise revenues from fossil and biofuel trading.
Earnings before interest, taxes, and depreciation (EBITDA) amounted to EUR
25.9 million, EUR 4.4 million (20 percent) more than in the comparative
period in the previous year (1 HY 2013/2014: EUR 21.5 million). The Group's
earnings before interest and taxation (EBIT) increased by 40 percent,
totaling EUR 14.7 million (1 HY 2013/2014: EUR 10.5 million). The Group's
net result before taxes (EBT) totals EUR 13.0 million (1 HY 2013/2014: EUR
8.8 million), and the net result for the period is EUR 11.8 million (1 HY
2013/2014: EUR 7.9 million). Based on the result for the period, earnings
per share (basic and diluted) is EUR 0.19 (1 HY 2013/2014: EUR 0.13).
The primary drivers of earnings growth were the increased sales quantities,
resulting from higher production capacity usage, as well as effective
efficiency improvements in the Bioethanol segment. Production of biodiesel
and bioethanol in the period from July 1, 2014 to December 31, 2014 was
343,248 tons, an increase of 11 percent over the 309,417 tons produced in
the same period of the previous year. In addition, a total of 227.5 GWh of
biomethane was produced in the first half of the 2014/2015 financial year
(1 HY 2013/2014: 132.5 GWh), an increase of 72 percent compared to the
equivalent period of the previous year. At the Schwedt site, which is
supported under the European NER 300 subsidy project, the plant expansion
designed to produce biomethane from 100 percent straw achieved its first
milestones according to plan.
Development of the Biodiesel, Bioethanol and Other segments
The Biodiesel segment generated sales revenues of EUR 195.5 million in the
reporting period covering the first half-year 2014/2015 (1 HY 2013/2014:
EUR 257.9 million). At 217,954 tons (1 HY 2013/2014: 209,522 tons)
production of biodiesel increased a further 4 percent. This represents a 97
percent production capacity utilization rate. The Biodiesel segment
contributed EUR 13.5 million EBITDA (1 HY 2013/2014: EUR 13.3 million) and
EUR 11.0 million EBIT (1 HY 2013/2014: EUR 10.7 million) to the Group's
results.
The Bioethanol segment generated sales revenues of EUR 108.1 million in the
reporting period covering the first half-year 2014/2015 (1 HY 2013/2014:
EUR 151.0 million). With 125,294 tons of bioethanol (1 HY 2013/2014: 99,895
tons) and 227.5 GWh biomethane (1 HY 2013/2014: 132.5 GWh) production in
this area also increased, by 25 percent and 72 percent, respectively. The
Bioethanol segment contributed EUR 11.5 million EBITDA (1 HY 2013/2014: EUR
8.8 million) and EUR 3.4 million EBIT (1 HY 2013/2014: EUR 1.1 million) to
the Group's results.
Revenues generated in the Other segment totaled EUR 7.5 million in the
first six months of the 2014/2015 financial year (1 HY 2013/2014: EUR 18.5
million), primarily from transport and logistics services. The segment
result amounted to EUR 0.3 million (1 HY 2013/2014: EUR -1.3 million).
Increase in earnings forecasts and possible dividend payment for the
2014/2015 financial year
The Management Board currently expects an EBITDA in the range of between
EUR 36 million and EUR 44 million and EBIT in the range between EUR 14
million to EUR 22 million for the full 2014/2015 financial year. In its
most recent previous forecast the Company had expected EBITDA of between
EUR 25 million and EUR 35 million and EBIT of between EUR 3 million and EUR
13 million. Provided current business trends continue, and provided that
all statutory conditions are fulfilled, the payment of a dividend for the
2014/2015 financial year in a range of between five and ten cents per share
is considered possible.
Detailed information on business developments in the first half-year
2014/2015 is provided in the half-year report 2014/2015. 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 providers of
biofuels and is at the same time the only large industrial producer of
biodiesel, bioethanol and biomethane in Europe. The production capacity is
at a rounded 450,000 tons biodiesel, 260,000 tons bioethanol and 480
gigawatt hours biomethane per year. In the production of its highly
efficient fuels, the company uses energy-saving production processes and
innovative technologies of own development. The biofuels of VERBIO achieve
CO2 reductions of up to 90 percent compared to petrol or diesel. VERBIO
delivers its products directly to the European mineral oil conglomerates,
mineral oil trading companies, independent gas 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 gained as a by-product in biodiesel production).
Within the group, VERBIO Vereinigte BioEnergie AG acts as Management
Holding. The operative business is exercised 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 Märka GmbH. The VERBIO stock (ISIN DE000A0JL9W6 / WKN A0JL9W) has been
listed at the Prime Standard of the Frankfurt stock exchange since October
2006.
Important notice
This publication contains certain forward-looking statements concerning the
VERBIO group of companies. The forward-looking statements contained herein
represent the judgment of VERBIO as of the date of this release and involve
risks and uncertainties. Should actual conditions differ from the Company's
assumptions, actual results and actions may differ from those anticipated.
VERBIO does not intend to update any of these forward-looking statements as
far as the wording of the relevant publication is concerned.
Contact:
VERBIO Vereinigte BioEnergie AG
Augustusplatz 9
04109 Leipzig
Olaf Tröber (IR)
Ulrike Kurze (PR)
Phone: +49(0)341/308530-294
Fax: +49(0)341/308530-998
Email: [email protected]/[email protected]
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05.02.2015 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: VERBIO Vereinigte BioEnergie AG
Ritterstraße 23 (Oelßners Hof)
04109 Leipzig
Germany
Phone: +49 (0)341 308530-0
Fax: +49 (0)341 308530-998
E-mail: [email protected]
Internet: www.verbio.de
ISIN: DE000A0JL9W6
WKN: A0JL9W
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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