DGAP-News: VERBIO Vereinigte BioEnergie AG
/ Key word(s): Annual Results
VERBIO AG: Most successful year in VERBIO'S history; positive outlook for the financial year 2019/2020
Leipzig, September 25, 2019 - VERBIO Vereinigte BioEnergie AG generated Group sales revenues in the financial year 2018/2019 of EUR 779.3 million (2017/2018: EUR 685.9 million). The 13.6 percent increase compared to the previous year is primarily due to higher prices for bioethanol, biodiesel and by-products. Earnings before interest, taxation, depreciation and amortisation (EBITDA) benefited from the improved market conditions and amounted to EUR 95.1 million, 112.3 percent ahead of the comparative period in the previous year (2017/2018: EUR 44.8 million). The Group result before taxation and interest (EBIT) increased to EUR 73.7 million, an increase of 229.0 percent (2017/2018: EUR 22.4 million). The net result is also affected by current and deferred taxes of EUR 21.4 million (2017/2018: EUR 7.1 million), and amounted to EUR 51.7 million (2017/2018: EUR 15.1 million). Based on the result for the period, earnings per share (basic and diluted) was EUR 0.84 (2017/2018: EUR 0.24). Development of the Biodiesel, Bioethanol and Other segments The Bioethanol segment generated sales revenues of EUR 254.7 million in 2018/2019 (2017/2018: EUR 219.1 million). The production of Bioethanol was at a similarly high level to the previous year, at 239,846 tonnes (2017/2018: 246,300 tonnes). The production of biomethane increased by 16.2 percent to 706.6 GWh (2017/2018: 608.3 GWh). The Bioethanol segment contributed to the Group's results with an EBITDA of EUR 23.8 million (2017/2018: EUR 19.9 million). Sales revenues generated in the Other segment totalling EUR 16.7 million in the financial year 2018/2019 primarily represent revenues from transport and logistics services (2017/2018: EUR 15.7 million). Net assets and financial position At June 30, 2019 the bank and loan finance arrangements of EUR 10.1 million were more than offset by cash and cash equivalents of EUR 68.0 million and other cash balances of EUR 6.2 million, so that the reported net cash balance at the balance sheet date amounted to EUR 64.2 million (June 30, 2018: EUR 90.1 million). Equity totalled EUR 338.9 million (June 30, 2018: EUR 300.2 million). The equity ratio amounted to 79.8 percent, a slight reduction compared to the previous year's balance sheet date (June 30, 2018: 82.0 percent). Investments Changes to production capacity Dividend and outlook for the financial year 2019/2020 Based on current sales and raw material prices, the planned production capacity usage and the current investments being made, the Management Board of VERBIO Vereinigte BioEnergie AG expects to achieve an EBITDA for the financial year 2019/2020 of around EUR 65 million. The Group plans to invest in capacity expansions and internationalisation in the current financial year. This will be achieved using the free cash reserves generated in previous financial periods and cash flows from current operations. Accordingly, the Management Board expects a low level of net debt at the end of the financial year 2019/2020. Detailed information on business developments in the 2018/2019 financial year is provided in the annual report for the financial year 2018/2019. The report can be viewed from 9 a.m. on Verbio's website www.verbio.de. In addition, the non-financial statement, which has been published for the first time for the financial year 2018/2019, can also be accessed on the website. Information about VERBIO Vereinigte BioEnergie AG (VERBIO) Important notice Contact: VERBIO Vereinigte BioEnergie AG Ritterstraße 23 (Oelßner's Hof) 04109 Leipzig Olaf Tröber (IR) Ulrike Kurze (PR) Phone: +49(0)341/308530-251 Fax: +49(0)341/308530-998 Email: ir@verbio.de/pr@verbio.de
25.09.2019 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, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 879215 |
End of News | DGAP News Service |
879215 25.09.2019