21.09.2016
VERBIO Vereinigte BioEnergie AG DE000A0JL9W6
DGAP-News: VERBIO Vereinigte BioEnergie AG: 2015/2016 once again the most successful year in the Company's history; outlook for the financial year 2016/2017 positive
DGAP-News: VERBIO Vereinigte BioEnergie AG / Key word(s): Final Results
VERBIO Vereinigte BioEnergie AG: 2015/2016 once again the most successful
year in the Company's history; outlook for the financial year 2016/2017
positive
21.09.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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VERBIO AG: 2015/2016 once again the most successful year in the Company's
history; outlook for the financial year 2016/2017 positive
- Record results despite very competitive situation
- EBITDA increased by 44 percent to EUR 73 million compared to the same
period in the previous year
- Proposed dividend: EUR 0.15 per qualifying share
Leipzig, September 21, 2016 - VERBIO Vereinigte BioEnergie AG is once again
able to report successful results in the financial year 2015/2016. Sterol
production has started very well, and will be doubled by the spring of
2017. The share of bio-methane sold outside the biofuels quota increased
significantly. This is in line with the Management Board's strategy of
increasing revenues generated outside the biofuels sector.
Group revenues increased by 6 percent to EUR 654.3 million compared to the
previous year (2014/2015: EUR 618.5 million), primarily due to increased
revenues from sales of biofuel merchandise and higher average prices.
Earnings before interest, taxation, depreciation and amortisation (EBITDA)
amounted to EUR 73.1 million, 44 percent ahead of the previous year
(2014/2015: EUR 50.7 million). The Group result before taxation and
interest (EBIT) amounted to EUR 52.0 million, an increase of 82 percent
(2014/2015: EUR 28.5 million). The Group result before tax (EBT) totals EUR
50.6 million (2014/2015: EUR 24.7 million); the result for the period after
current and deferred taxes amounts to EUR 48.9 million (2014/2015: EUR 26.9
million). This results in an earnings per share (basic and diluted) of EUR
0.77 (2014/2015: EUR 0.43).
Ongoing process improvements to production plants were a major contributor
to the Group's success. As a result of these ongoing optimisation measures,
the Group has been able to increase the annual production capacity of the
bio-methane plants to 600 GWh and the annual production capacity of the
biodiesel plants to 470.000 tonnes.
Development of the Biodiesel, Bioethanol, and Other segments
Revenues in the Biodiesel segment in the financial year 2015/2016 amounted
to EUR 423.2 million (2014/2015: EUR 397.0 million). Biodiesel production
amounted to 449,303 tonnes (2014/2015: 442,867 tonnes), a new record in the
Group's ten year history. Production capacity utilisation was 100 percent.
The Biodiesel segment contributed to the overall business result with an
EBITDA of EUR 29.7 million (2014/2015: EUR 26.9 million), and an EBIT of
EUR 25.3 million (2014/2015: EUR 21.7 million).
The Bioethanol segment generated revenues of EUR 222.1 million in 2015/2016
(2014/2015: EUR 212.9 million). Bioethanol production amounted to 239,059
tonnes (2014/2015: 248,103 tonnes), slightly lower than in the previous
year due to planned repair and maintenance downtime. Bio-methane production
totalled 521 GWh (2014/2015: 469 GWh), an increase of 11 percent. The
Bioethanol segment contributed to the Group's results with an EBITDA of EUR
42.2 million (2014/2015: EUR 22.4 million), and an EBIT of EUR 26.2 million
(2014/2015: EUR 6.3 million).
Revenues generated in the Other segment totalling EUR 15.8 million in the
financial year 2015/2016 primarily represent revenues from transport and
logistic services. The segment EBIT amounted to EUR 0.6 million (2014/2015:
EUR 0.5 million).
Further improvements in the Group's net assets and financial position
Bank and loan borrowings totalled EUR 11.9 million at the balance sheet
date (2014/2015: EUR 18.8 million). Cash and cash equivalents total EUR
77.5 million, so that financial assets at the balance sheet date (net of
bank and loan borrowings) amount to EUR 65.6 million. With total equity of
EUR 254.3 million (June 30, 2015: EUR 209.7 million) the equity ratio
amounts to 79 percent, a significant increase compared to the previous
year's balance sheet date (June 30, 2015: 71 percent).
Dividend and outlook for the financial year 2016/2017
In view of the significantly improved results for the financial year
2015/2016 just ended the Management Board will propose the payment of a
dividend of EUR 0.15 per qualifying share (2014/2015: EUR 0.10 per
qualifying share) at the annual general meeting which will be held on
January 27, 2017. The Supervisory Board has approved the proposal at its
meeting held on September 19, 2016. It is planned to maintain regular
dividend payments in future, provided that general conditions remain
unchanged.
Based on current sales volumes and raw material prices as well as the
planned production capacity utilisation, the Management Board expects to
achieve an EBITDA for the financial year 2016/2017 of around EUR 55
million, and to increase net cash by the end of the financial year to
around EUR 88 million. 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 2015/2016 financial
year are provided in the annual report for the financial year 2015/2016.
The report can be viewed from 9 a.m. on
Verbio's website www.verbio.de.
Information about VERBIO Vereinigte BioEnergie AG (VERBIO)
VERBIO is one of the leading independent producers and suppliers of
biofuels, and is also the only large-scale producer of biodiesel,
bioethanol and biomethane in Europe. The annual production capacity amounts
to approximately 470,000 tonnes of biodiesel, 260,000 tonnes of bioethanol
and 600 gigawatt hours of biomethane. The Company produces its highly
efficient fuels using internally generated, energy efficient production
processes and innovative technologies. VERBIO's biofuels achieve CO2
reductions of up to 90 percent compared to petrol or diesel. VERBIO
delivers its products directly to European oil companies, oil trading
companies, independent filling stations, freight forwarders, municipal
utilities and vehicle fleets. In addition, VERBIO markets high-quality
pharma glycerine for the consumer goods and cosmetics industry (glycerine
is manufactured as a by-product in the biodiesel production process).
Within the Group, VERBIO Vereinigte BioEnergie AG acts as a management
holding company. The operative business is conducted by the subsidiaries
VERBIO Diesel Bitterfeld GmbH & Co. KG, VERBIO Diesel Schwedt GmbH & Co.
KG, VERBIO Ethanol Schwedt GmbH & Co. KG, VERBIO Ethanol Zörbig GmbH & Co.
KG and Märka GmbH. The VERBIO share (ISIN DE000A0JL9W6/WKN A0JL9W) has been
listed in the prime standard segment of the Frankfurt Stock Exchange since
October 2006.
Important notice
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
those assumptions and estimates 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 guarantee and accepts no liability as to whether future
development and the results actually achieved in future will match the
assumptions and estimates made in this publication.
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: [email protected]/[email protected]
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21.09.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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: [email protected]
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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503795 21.09.2016
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