EUR 80.4 million EBITDA, up 49.2 percent compared to the same period in the previous year
Biomethane plants in the USA and India in operation from autumn 2021
Leipzig, February 4, 2021 - VERBIO AG reports a further increase in results for the first six months of the current financial year 2020/2021 compared to the same period in the previous year.
Group revenues increased by 9.7 percent to EUR 479.1 million compared to the same period in the previous year (1 HY 2019/2020: EUR 436.6 million). Earnings before interest, taxation, depreciation and amortisation (EBITDA) for the first six months of the financial year 2020/2021 amounted to EUR 80.4 million, significantly higher than in the comparative period in the previous year (1 HY 2019/2020: EUR 53.9 million). The Group result before interest and taxes (EBIT) totalled EUR 65.0 million (1 HY 2019/2020: EUR 39.9 million). The net result amounted to EUR 44.2 million (1 HY 2019/2020: EUR 25.3 million). Based on the result for the period, earnings per share are EUR 0.70 (1 HY 2019/2020: EUR 0.40).
Development of the Biodiesel and Bioethanol segments
The first half year 2020/2021 was characterised by improvements in the Bioethanol and Biodiesel margins compared to the same period in the previous year. Capacity utilisation of the production plants in both segments was very good, including for the Group's biomethane plants.
With the adjustments made to capacity utilisation in the previous year and the commencement of production at the biodiesel plant in Canada, the production capacity utilisation in the Biodiesel segment was 93.1 percent following 85.1 percent in the previous year.
The production volumes for Bioethanol fell slightly by 2.8 percent compared to the same period in the previous year due to the decline in demand in the transport sector.
The production of biomethane increased by 9.9 percent to 414.2 GWh.
Investments in property, plant and equipment totalling EUR 32.3 million were made in the first half of the financial year 2020/2021 (1 HY 2019/2020: EUR 41.5 million). Biomethane plants in the USA and India will commence operation from autumn 2021.
Detailed information on business developments in the first six months of the 2020/2021 financial year is provided in the half-yearly interim statement for the period ended December 31, 2020. The report can be viewed from 9 a.m. (CET) on VERBIO's website at www.verbio.de.
Information about VERBIO Vereinigte BioEnergie AG (VERBIO)
VERBIO AG is one of the leading independent bioenergy manufacturers, and is also the only large-scale producer of biodiesel, bioethanol and biomethane in Europe. The Group has approximately 700 employees at its locations in Saxony, Saxony-Anhalt and Brandenburg as well as at its foreign subsidiaries in India, the USA, Canada, Poland and Hungary. VERBIO concentrates on the use of internally developed innovative technologies and efficient energy-saving production processes. VERBIO's biofuels achieve CO2 savings of up to 90 percent compared to petrol or diesel. The Group's annual production capacity amounts to approximately 660,000 tonnes of biodiesel, 260,000 tonnes of bioethanol and 900 gigawatt hours of biomethane. In addition, VERBIO manufactures biofertiliser and animal feed for agricultural use as well as high-value raw materials for the pharmaceutical, cosmetic and foodstuff industries. With its innovative processes and highly efficient production plants, VERBIO is a technology leader in the biofuels market. The VERBIO share (ISIN DE000A0JL9W6/WKN A0JL9W) has been listed in the prime standard segment of the Frankfurt Stock Exchange since October 2006.
This publication contains forward-looking statements which are based on assumptions and estimates made by the management of VERBIO Vereinigte BioEnergie AG. Although the Company's management is of the opinion that these assumptions and estimations are realistic, actual future developments and actual future results may differ significantly from these assumptions and estimates due to a variety of factors. For example, these factors can include changes to the overall economic climate, changes to the legal and regulatory framework in Germany and the EU, and changes in the industry. VERBIO can give no guarantees and accepts no liability as to whether future developments and the results actually achieved in future will match the assumptions and estimates made in this publication.
VERBIO Vereinigte BioEnergie AG published this content on 04 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 February 2021 07:05:01 UTC.