WKN: A0JL9W ISIN: DE000A0JL9W6 VERBIO Vereinigte BioEnergie AG
DGAP-News: VERBIO Vereinigte BioEnergie AG / Key word(s): Annual Results
VERBIO AG: Difficult financial year 2017/2018 closes with good earnings results; unchanged outlook for the financial year 2018/2019
Leipzig, September 26, 2018 - VERBIO Vereinigte BioEnergie AG generates Group sales revenues in the financial year 2017/2018 of EUR 685.9 million (2016/2017: EUR 726.4 million). The 5.6 percent decline compared to the previous year is primarily due to lower prices for bioethanol and biodiesel.
Under deteriorated market conditions, earnings before interest, taxation, depreciation and amortisation (EBITDA) were 51.5 percent lower than in the comparative period in the previous year and amounted to EUR 44.8 million (2016/2017: EUR 92.4 million). The Group result before taxation and interest (EBIT) in the same period amounted to EUR 22.4 million, a decrease of 68.3 percent (2016/2017: EUR 70.7 million). The net result is also affected by current and deferred taxes of EUR 7.1 million (2016/2017: EUR 18.8 million), and amounted to EUR 15.1 million (2016/2017: EUR 51.8 million). Based on the result for the period, earnings per share (basic and diluted) was EUR 0.24 (2016/2017: EUR 0.82).
Investments totalling EUR 26.7 million were made in the financial year 2017/2018 (2016/2017: EUR 18.9 million). These primarily relate to investments in property, plant and equipment of EUR 26.6 million (2016/2017: EUR 18.8 million).
Development of the Biodiesel, Bioethanol and Other segments
The Bioethanol segment generated revenues of EUR 219.1 million in 2017/2018 (2016/2017: EUR 245.2 million). Bioethanol production was not able to match the record levels in the previous year, with a total production volume of 246,300 tonnes (2016/2017: 248,755 tonnes). The production of biomethane increased by 8.8 percent to 608 GWh (2016/2017: 559 GWh). The Bioethanol segment contributed to the Group's results with an EBITDA of EUR 19.9 million (2016/2017: EUR 52.4 million) and an EBIT of EUR 2.8 million (2016/2017: EUR 36.0 million).
Sales revenues generated in the Other segment totalling EUR 15.7 million in the financial year 2017/2018 primarily represent revenues from transport and logistics services (2016/2017: EUR 16.3 million). The segment result amounted to EUR -0.1 million (2016/2017: EUR 0.1 million).
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, the Management Board expects to achieve an EBITDA for the financial year 2018/2019 of around EUR 45 million. The balance of net cash at the end of the financial year is expected to fall to around EUR 73 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 2017/2018 financial year is provided in the annual report for the financial year 2017/2018. The report can be viewed from 9 a.m. on Verbio's website www.verbio.de.
Information about VERBIO Vereinigte BioEnergie AG (VERBIO)
VERBIO Vereinigte BioEnergie AG
Ritterstraße 23 (Oelßner's Hof)
Olaf Tröber (IR)
Ulrike Kurze (PR)
26.09.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||VERBIO Vereinigte BioEnergie AG|
|Ritterstraße 23 (Oelßners Hof)|
|Phone:||+49 (0)341 308530-0|
|Fax:||+49 (0)341 308530-998|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|
Aktien in diesem Artikel
|VERBIO Vereinigte BioEnergie AG||6,14||0,57%|