BioFuel Energy's net loss shrinks in Q2 2013

Aug 14, 2013 - US green fuel producer Biofuel Energy Corp (NASDAQ:BIOF) said Tuesday its net loss had contracted to USD 4.7 million (EUR 3.5m) in the second quarter of 2013 from USD 12.4 million a year back.

In the second quarter of 2012, the company's performance was impacted by a USD-1.7-million interest expense, it explained.

Net loss attributable to common stockholders of the company stood at USD 4.1 million, narrowing from USD 10.6 million. This translated into a loss per share of USD 0.77, against USD 2.05 in the year-ago period.

The company's operating loss shrank to USD 5.4 million from USD 10.7 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to USD 4.1 million versus a negative result of USD 3.9 million in the second quarter of 2012.

April-June revenues fell to USD 91 million from USD 122.8 million. BioFuel Energy sold 28.3 million gallons (107 million litres) of ethanol, down from 46.5 million gallons previously.

The green fuel producer closed the first half of 2013 with a net loss of USD 10.1 million, compared to a USD-23.5-million loss a year earlier. Revenues dropped to USD 180.1 million from USD 262.2 million.

(USD 1.0 = EUR 0.754)

Choose your newsletter by Renewables Now. Join for free!