Corporate | 21 September 2016 08:00
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
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DGAP-News: VERBIO Vereinigte BioEnergie AG / Key word(s): Final Results
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
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
2016-09-21 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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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: | 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 |