German Verbio returns to profit in short FY 2012

Sep 25, 2012 - German biofuel producer Verbio Vereinigte BioEnergie AG (ETR:VBK) today posted a net profit of EUR 1.9 million (USD 2.5m) for the six-month short fiscal year 2012 compared with a loss of EUR 3.2 million a year earlier.

The reported figure is even higher than the EUR 1.3 million net profit booked for the full 2011.

Earnings before interest and tax (EBIT) soared to EUR 7 million from EUR 200,000 due to increased production and gains from the sale of bioethanol and biomethane as well as to higher income from Maerka’s grain sales to third parties. Earnings before interest, tax, depreciation and amortisation (EBITDA) jumped by over 50% to EUR 20.3 million.

Revenue grew by some 30% to EUR 413.6 million, exceeding the group’s expectations. The Maerka subsidiary almost doubled its revenue to EUR 78.6 million from EUR 41.3 million.

Verbio expects its EBIT for the fiscal 2012/13, ending June 30, to be in the range of EUR 15 million and EUR 20 million and its EBITDA -- between EUR 40 million and EUR 45 million. Revenue is foreseen at EUR 750 million to EUR 850 million.

The company intends to further strengthen its market position in biodiesel, bioethanol and biomethane as well as to boost its exports.

(EUR 1.0 = USD 1.291)

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