04.02.2016
VERBIO Vereinigte BioEnergie AG DE000A0JL9W6
DGAP-News: VERBIO Vereinigte BioEnergie AG: VERBIO AG with continued earnings growth in second quarter of 2015/2016 and raises forecast
DGAP-News: VERBIO Vereinigte BioEnergie AG / Key word(s): Half Year Results
VERBIO Vereinigte BioEnergie AG: VERBIO AG with continued earnings growth in
second quarter of 2015/2016 and raises forecast
04.02.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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VERBIO AG with continued earnings growth in second quarter of 2015/2016 and
raises forecast
- EBITDA increased by 51 percent to EUR 39.1 million in 1 HY 2015/2016
- Continued high level of capacity usage in biodiesel and bioethanol
- Production of biomethane increased by 16 percent
Leipzig, February 4, 2016 - VERBIO AG earnings growth continues in the
first half of the financial year 2015/2016. Group revenues increased by 7
percent to EUR 330.8 million compared to the same period in the previous
year (1 HY 2014/2015: EUR 307.8 million).
Earnings before interest, taxation, depreciation and amortisation (EBITDA)
amounted to EUR 39.1 million, 51 percent ahead of the comparative period in
the previous year (1 HY 2014/2015: EUR 25.9 million). The Group result
before taxation and interest (EBIT) amounted to EUR 28.7 million, an
increase of 95 percent (1 HY 2014/2015: EUR 14.7 million). The Group result
before tax (EBT) totals EUR 28.1 million (1 HY 2014/2015: EUR 13.0
million), and the net result for the period is EUR 21.6 million (1 HY
2014/2015: EUR 11.8 million). Based on the result for the period, earnings
per share (basic and diluted) is EUR 0.34 (1 HY 2014/2015: EUR 0.19).
The primary drivers of earnings growth were the high margins for
bioethanol, continued high sales volumes in biodiesel and bioethanol, as
well as the high levels of capacity usage for the biomethane production
plant. The production volume of biodiesel and bioethanol in the period July
1, 2015 to December 31, 2015 amounted to 346,007 tonnes, an increase of 0.8
percent compared to the same period in the previous year (343,248 tonnes).
In addition, 264.0 MWh of biomethane were produced in the first half of the
financial year 2015/2016 (1 HY 2014/2015: 227.5 MWh), an increase of 16
percent compared to the same period in the previous year.
Development of the Biodiesel, Bioethanol, and Other segments
Revenues in the Biodiesel segment in the first half-year 2015/2016 amounted
to EUR 217.2 million (1 HY 2014/2015: EUR 195.5 million). The biodiesel
production volume increased again and was 4 percent higher at 227,101
tonnes (1 HY 2014/2015: 217,954 tonnes). This represented a capacity usage
of 101 percent. The Biodiesel segment contributed to the Group's results
with an EBITDA of EUR 15.5 million (1 HY 2014/2015: EUR 13.5 million), and
an EBIT of EUR 13.4 million (1 HY 2014/2015: EUR 11.0 million).
Revenues in the Bioethanol segment in the first half-year 2015/2016
amounted to EUR 109.1 million (1 HY 2014/2015: EUR 108.1 million). Due to
planned maintenance downtime, the production of bioethanol fell by 5.1
percent to 118,906 tonnes (1 HY 2014/2015: 125,294 tonnes). The production
of biomethane increased by 16 percent to 264.0 GWh biomethane (1 HY
2014/2015: 227.5 GWh). The Bioethanol segment contributed to the Group's
results with an EBITDA of EUR 22.7 million (1 2014/2015: EUR 11.5 million),
and an EBIT of EUR 14.7 million (1 2014/2015: EUR 3.4 million).
Revenues generated in the Other segment totalling EUR 8.3 million in the
first six months of the financial year 2015/2016 primarily represent
revenues from transport and logistic services (1 HY 2014/2015: EUR 7.5
million). The segment result amounted to EUR 0.6 million (1 HY 2014/2015:
EUR 0.3 million).
Earnings forecast for the financial year 2015/2016 raised
Based on current sales volumes and raw material prices as well as the
planned production capacity usage, the Management Board expects to achieve
an EBITDA for the financial year 2015/2016 of around EUR 70 million, and to
increase net cash by the end of the financial year to around EUR 58
million. Previously, the Group had expected an EBITDA of around EUR 50
million and net cash of EUR 38 million.
The changes in the forecasts are based on the strong second quarter for the
financial year 2015/2016 together with the current good level of orders for
the second half of the financial year 2015/2016.
Detailed information on business developments in the first half of the
2015/2016 financial year are provided in the interim report for the first
half-year 2015/2016. 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.
Contact:
VERBIO Vereinigte BioEnergie AG
Ritterstraße 23 (Oelßner's Hof)
04109 Leipzig
Olaf Tröber (IR)
Ulrike Kurze (PR)
Phone: +49(0)341/308530-251
Fax: +49(0)341/308530-998
Email: [email protected]/[email protected]
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04.02.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart
End of News DGAP News Service
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