Earnings Release • Sep 25, 2012
Earnings Release
Open in ViewerOpens in native device viewer
News Details
Corporate | 25 September 2012 07:30
VERBIO Vereinigte BioEnergie AG: BOOSTS PROFITS AND FORECASTS FURTHER GROWTH
VERBIO Vereinigte BioEnergie AG / Key word(s): Final Results
25.09.2012 / 07:30
VERBIO AG BOOSTS PROFITS AND FORECASTS FURTHER GROWTH
– Net profit of EUR1.9m in short fiscal year 2012 eclipses both H1/2011 and 2011 as a whole
– EBITDA rises on H1/2011 to EUR20.3m, EBIT to EUR7.0m
– Revenue in 2012/2013 fiscal year expected to reach EUR750-850m
Zörbig/Leipzig, 25 September 2012 * In the short fiscal year 2012 (1 January – 30 June), VERBIO Vereinigte BioEnergie AG achieved a net profit of about EUR1.9 million, a reversal of the loss of EUR3.2 million in the first six months of 2011 and also exceeding the net profit of EUR1.3 million in the whole of 2011. Accordingly, earnings per share rose to EUR0.03 (H1/2011: EUR-0.05). At the end of H1/2012, VERBIO changed its financial year end to 30 June.
EBITDA (earnings before interest, taxes, depreciation and amortization) rose to EUR20.3 million, an increase of over 50% compared to the same period last year (H1/2011: EUR13.2m). EBIT (earnings before interest and taxes) underwent an even more pronounced improvement, reaching EUR7.0m in the short fiscal year 2012 (H1/2011: EUR0.2m). This was chiefly due to the higher production volumes and proceeds from the sale of bioethanol and biomethane as well as increased proceeds from Märka's grain sales to third parties.
Group sales in the short fiscal year 2012 increased by more than 30% compared to H1/2011 to EUR413.6m (H1/2011: EUR315.0m) and exceeded the range forecast of EUR350-400m.
Despite producing less biodiesel, VERBIO's sales in this segment rose due to the higher prices charged to EUR221.9 m (H1/2011: EUR197.1 m). Sales of bioethanol climbed by nearly 14% to EUR112.8m (H1/2011: EUR81.6 m). Meanwhile, biomethane production more than doubled compared to H1/2011, as did the amount sold thanks to growing demand.
This includes sales of biomethane, which at EUR11m more than doubled compared to the same period last year (H1/2011: EUR3.6 m).
Revenue achieved by Märka also nearly doubled, rising from EUR41.3m in H1/2011 to EUR78.6m in H1/2012.
VERBIO's balance sheet total at 30 June 2012 was EUR574.8m, EUR84.1m lower than at the end of 2011 (31 December 2011: EUR658.9m) mainly owing to seasonal stock reduction. Equity at 30 June 2012 was EUR335.5m (31 December 2011: EUR331.5m). The equity ratio of 58.4% was higher than at the end of 2011 (31 December 2011: 50.3%).
At 30 June 2012, VERBIO held funds of EUR40.7m (31 December 2011: EUR37.0m).
The complete report for the short fiscal year 2012 can be downloaded from http://www.verbio.de/en/investor-relations/news-publications/financial-reports/.
VERBIO intends to strengthen its market position
For the 2012/2013 fiscal year, VERBIO predicts sales revenue to be in the order of EUR750-850m. EBITDA is expected to reach EUR40-45m with EBIT amounting to EUR15-20m.
In the 2012/2013 fiscal year, VERBIO plans to continue reinforcing its market position in biodiesel and bioethanol as well as in particular biomethane and to boost exports.
VERBIO will also step up its 'Biomethane for transport' campaign focusing on large buyers such as public utilities, fleet operators and energy suppliers. For this purpose, around EUR35m is to be invested in the expansion of VERBIO's existing biomethane facilities in the 2012/2013 fiscal year. In addition, two new standalone biomethane plants are to be built. The construction of the first of these plants is set to begin in the next calendar year. Investment for this purpose until 2015 will total around EUR100m.
VERBIO assumes that the EU will continue to encourage the increased use of second-generation biofuels in the transport sector and consistently apply its sustainability rules regarding the production of biofuel to all market players, hence ensuring a level playing field for German manufacturers.
About VERBIO Vereinigte BioEnergie AG (VERBIO)
VERBIO is one of the leading independent producers and suppliers of biofuels and also the only industrial-scale producer of biodiesel, bioethanol and biomethane in Europe. Nominal capacity currently amounts to around 450,000 tons of biodiesel, 300,000 tons of bioethanol and 480 gigawatt hours of biomethane per year. In the production of its highly efficient fuels, the company uses its own energy-saving production processes and innovative technologies. The biofuels produced by VERBIO achieve CO2 reductions of up to 90% compared with petrol and diesel. VERBIO supplies its products directly to European mineral oil corporations, mineral oil traders, independent petrol stations, haulage companies, public utilities and vehicle fleets. VERBIO AG also markets high-quality pharma glycerine for the consumer goods and cosmetic industries (glycerine is a by-product of biodiesel production). VERBIO Vereinigte BioEnergie AG acts as the management holding company within the Group. The Group's operating business is run by its 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. VERBIO shares (ISIN DE000A0JL9W6 / WKN A0JL9W) have been listed on the Prime Standard of the Frankfurt Stock Exchange since October 2006.
Important Note
This corporate news contains forecasted statements, which are based on assumptions and estimates of the company management of VERBIO Vereinigte BioEnergie AG. Although the company management believes that these assumptions and estimates are correct, actual future development and actual future results can deviate substantially from these assumptions and estimates due to many factors. For example, these factors can include alteration of the economic situation, legal and regulatory constraints in Germany and the EU, and affected changes in the industry. VERBIO assumes no liability and provides no warranty that future developments and actual future results will be exact to the assumptions and estimates expressed in this corporate news.
End of Corporate News
25.09.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
| Language: | English |
| Company: | VERBIO Vereinigte BioEnergie AG |
| Augustusplatz 9 | |
| 04109 Leipzig | |
| Germany | |
| Phone: | +49 (0)341 30 85 30 290 |
| Fax: | +49 (0)341 30 85 30 298 |
| 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 |
| - - - |
| 186278 25.09.2012 |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.