DGAP-News: VERBIO Vereinigte BioEnergie AG / Key word(s): Final Results VERBIO AG: Record production and record results for the financial year 2016/2017; outlook for the financial year 2017/2018 cautiously positive
Leipzig, September 27, 2017 - VERBIO Vereinigte BioEnergie AG increased its Group sales revenue in the financial year 2016/2017 to EUR 726.4 million, an increase of 10 percent compared to the previous year (2015/2016: EUR 654.3 million). Earnings before interest, taxation, depreciation and amortisation (EBITDA) benefited from the improved market conditions and amounted to EUR 92.4 million, 26 percent ahead of the comparative period in the previous year (2015/2016: EUR 73.1 million). The Group result before taxation and interest (EBIT) amounted to EUR 70.7 million, an increase of 36 percent (2015/2016: EUR 52.0 million). The net result is also affected by current and deferred taxes of EUR 18.8 million (2015/2016: EUR 1.7 million), and amounted to EUR 51.8 million (2015/2016: EUR 48.9 million). Based on the result for the period, earnings per share (basic and diluted) was EUR 0.82 (2015/2016: EUR 0.77). Investments in property, plant and equipment totalled EUR 18.9 million in the financial year 2016/2017 (2015/2016: EUR 12.8 million). Of this total, EUR 10.8 million was in connection with optimising and expanding the existing biomethane plants at Schwedt/Oder and Zörbig, and a further EUR 1.8 million related to the expansion of the sterol plant at Bitterfeld. A doubling of the investments is planned in 2017/2018, in particular in biomethane and sterol. Development of the Biodiesel, Bioethanol and Other segments The Bioethanol segment generated revenues of EUR 245.2 million in 2016/2017 (2015/2016: EUR 222.1 million). Bioethanol production amounted to 248,755 tonnes (2015/2016: 239,059 tonnes), another production record. The production of biomethane increased by 7 percent to 559 GWh (2015/2016 521 GWh). The Bioethanol segment contributed to the Group's results with an EBITDA of EUR 52.4 million (2015/2016: EUR 42.2 million) and an EBIT of EUR 36.0 million (2015/2016: EUR 26.2 million). Sales revenues generated in the Other segment totalled EUR 16.3 million in the financial year 2016/2017, primarily representing revenues from transport and logistic services. The segment EBIT amounted to EUR 0.1 million (2015/2016: EUR 0.6 million). Further improvements in the Group's net assets and financial position Dividend and outlook for the financial year 2017/2018 Based on current sales volumes and raw material prices, the planned production capacity usage and the uncertainty concerning possible competitive distortions resulting from imported biodiesel and bioethanol, the Management Board expects to achieve an EBITDA for the financial year 2017/2018 of around EUR 50 million. The balance of net cash at the end of the financial year is expected to fall to around EUR 100 million, primarily as a result of the planned increase in investments which will be financed from the Group's own funds. The net cash position would be reduced by the amount of any strategic investments approved by the Management Board. Detailed information on business developments in the 2016/2017 financial year is provided in the annual report for the financial year 2016/2017. The report can be viewed from 9 a.m. on Verbio's website www.verbio.de. Information about VERBIO Vereinigte BioEnergie AG (VERBIO) Important notice Contact: VERBIO Vereinigte BioEnergie AG Ritterstraße 23 (Oelßner's Hof) 04109 Leipzig Olaf Tröber (IR) Phone: +49(0)341/308530-251 Fax: +49(0)341/308530-998 Email: ir@verbio.de
27.09.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | VERBIO Vereinigte BioEnergie AG |
Ritterstraße 23 (Oelßners Hof) | |
04109 Leipzig | |
Germany | |
Phone: | +49 (0)341 308530-0 |
Fax: | +49 (0)341 308530-998 |
E-mail: | ir@verbio.de |
Internet: | www.verbio.de |
ISIN: | DE000A0JL9W6 |
WKN: | A0JL9W |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |
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