DGAP-News: VERBIO Vereinigte BioEnergie AG: BOOSTS PROFITS AND FORECASTS FURTHER GROWTH
(firmenpresse) - DGAP-News: VERBIO Vereinigte BioEnergie AG / Key word(s): Final
Results
VERBIO Vereinigte BioEnergie AG: BOOSTS PROFITS AND FORECASTS FURTHER
GROWTH
25.09.2012 / 07:30
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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-rep
orts/.
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 isto 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
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25.09.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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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: ir(at)verbio.de
Internet: www.verbio.de
ISIN: DE000A0JL9W6
WKN: A0JL9W
Listed: Regulierter Markt inFrankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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186278 25.09.2012
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