BDI Bioenergy slips into operating loss in Jan-Sep 2012
Nov 14, 2012 - Austrian BDI BioEnergy International AG (ETR:D7I) today posted a loss before interest and tax of EUR 1.5 million ((USD 1.9m), excluding extraordinary items, for the first nine months of 2012.
The waste-to-biofuel technology company booked earnings before interest and tax (EBIT) of EUR 3.2 million for the same period of the previous year.
The revenue plunged by 30% in annual terms to EUR 19.1 million, affected by significant project delays that dampened the sales.
The company’s performance was further affected by the overall fragile economy and restructuring expenses during the first nine months of this year.
For 2012, BDI BioEnergy targets positive earnings before extraordinary items, but does not rule out the possibility of slipping into an operating loss. The company, however, expects to return to profitability in 2013, upon the completion of its revamp.