Earnings Release • Aug 8, 2012
Earnings Release
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Corporate | 8 August 2012 18:39
VERBIO Vereinigte BioEnergie AG: Business in the short fiscal year in line with expectations
VERBIO Vereinigte BioEnergie AG / Key word(s): Preliminary Results
08.08.2012 / 18:39
VERBIO AG: Business in the short fiscal year in line with expectations
– Preliminary Group sales slightly exceeds predicted range of EUR 350 – 400 million
– Preliminary EBIT corresponds to the level of the second half of 2011
– Biogas production volume has more than doubled compared to the first half of 2011
Zörbig/Leipzig, 08 August 2012 – VERBIO (Vereinigte BioEnergie AG) produced a total of 243,231 tons of biofuels and 132,654 MWh of biomethane in the short fiscal year between 1 January 2012 and 30 June 2012. The quantity of biodiesel produced amounted in total to 153,940 tons, while the production of bioethanol remained second in volume with a total of 89,291 tons. Compared to the same period last year, Biodiesel production was 10.8% below the production volume of the first half of 2011, whereas bioethanol production increased by 13.9%. In addition, the volume of biomethane produced has more than doubled compared to the first six months of 2011.
Preliminary numbers forecast Group sales of EUR 414,3 million (first half of 2011: EUR 315,0 million), with biodiesel accounting for EUR 218.9 million (first half of 2011: EUR 191,8 million) and bioethanol accounting for EUR 112,2 million (first half of 2011: EUR 74,9 million). Despite lower quantities, the increase in biodiesel sales is due to an increase in prices. The Bioethanol segment sales includes income and expenditures from the operation of two biomethane plants. According to the reporting period, feed-in tariffs and sales of biomethane created preliminary sales revenue of around EUR 7,2 million, following EUR 3,6 million in the first half of 2011. MÄRKA contributed an estimated share of revenue of EUR 79,3 million in the short fiscal year 2012 (first half of 2011: EUR 41,3 million).
As a result, VERBIO clearly exceeded the sales revenue range forecasted for the first half of 2012 (EUR 350 – 400 million). VERBIO expects the Group EBIT to approximately correspond with the levels of the second half of 2011. The final figures and the Group's outlook for the coming financial year will be contained in the financial statement for the short fiscal year (1 January – 30 June 2012) due to be released on 25 September 2012.
Demand for fair competition
VERBIO continues to both regard and uphold the biofuel market as a growth market on the grounds that only biofuels from renewable energy sources will ensure energy sourcing switchovers for road transport and all the while meeting the EU's binding climate targets. In the meantime, binding criteria for a sustainable generation of biofuels have been established in Germany. In this regard, only biofuels fully complying with these sustainability criteria may be certified and credited to adequately satisfy the demand and maintain the continuing supply for this biofuel quota. In order to ensure fair competition against the backdrop of current events in the biodiesel market, the sustainability of biofuels needs to be clearly defined and strictly verified, either within the individual EU-member states or based on voluntary systems authorized by the European Commission. It is not acceptable that German biofuel producers are suffering major drawbacks simply because they meet all the criteria for a sustainable fuel generation, while at the same time other non-German based producers currently neither comply with these standards nor do they make attempts to implement them. It rests with the competent ministries to enforce applicable laws in order to ensure equal and fair conditions for competition in the biofuel sector. One of the central aims of the German Biofuel Sustainability Directive (BioKraft-NachV) that entered into force on 1 January 2011 and consistently applies to all biofuels produced in
Germany, was to stop unfavorable developments in biodiesel production in South America and South East Asia. Massive subsidization of biodiesel from Argentina and Indonesia is causing an increased abundance of these products on the German biofuel market. In this respect, the current condition is an unequal application of the law, which not only disrupts the forward development of the biofuel industry in Germany, but also, undermines the purposes of equal and fair conditions for the industry that the law was enacted to uphold.
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).
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
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| Language: | English |
| Company: | VERBIO Vereinigte BioEnergie AG |
| Augustusplatz 9 | |
| 04109 Leipzig | |
| Germany | |
| Phone: | +49 (0)341 30 85 30 90 |
| Fax: | +49 (0)341 30 85 30 98 |
| 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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| 181002 08.08.2012 |
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