DGAP-News: VERBIO Vereinigte BioEnergie AG / Key word(s): Annual Results
VERBIO AG: Powerful confirmation of VERBIO's growth trajectory - yet again the most successful year in the Company's history, and a positive outlook for the financial year 2020/2021
Leipzig, September 23, 2020 - VERBIO Vereinigte BioEnergie AG generated Group sales revenues in the financial year 2019/2020 of EUR 872.4 million (2018/2019: EUR 779.3 million). The 11.9 percent increase in sales revenues is primarily due to sales of biodiesel, as a consequence of the increase in capacity following the acquisition of the biodiesel plant in Canada, and due to the expansion of sterol production.
The earnings before interest, taxation, depreciation and amortisation (EBITDA) was EUR 122.1 million, 28.4 percent higher than in the previous year (2018/2019: EUR 95.1 million) due to the favourable market conditions in the first half of the financial year and despite the temporary lockdown due to the coronavirus in the second half of the financial year. The Group result before taxation and interest (EBIT) increased to EUR 91.9 million, an increase of 24.7 percent (2018/2019: EUR 73.7 million). The net result is after deduction of current and deferred taxes of EUR 27.2 million (2018/2019: EUR 21.4 million), and amounted to EUR 63.8 million (2018/2019: EUR 51.7 million). Based on the net result for the period, earnings per share (basic and diluted) was EUR 1.01 (2018/2019: EUR 0.84).
Development of the Biodiesel, Bioethanol and Other segments
The Bioethanol segment generated sales revenues of EUR 275.2 million in 2019/2020 (2018/2019: EUR 254.7 million). The production of Bioethanol was at a similarly high level to the previous year, at 236,676 tonnes (2018/2019: 239,846 tonnes). The production of biomethane increased by 11.0 percent to 784.4 GWh (2018/2019: 706.6 GWh). The Bioethanol segment contributed to the Group's results with an EBITDA of EUR 74.0 million (2018/2019: EUR 23.8 million).
Sales revenues generated in the Other segment totalling EUR 15.8 million in the financial year 2019/2020 primarily represent revenues from transport and logistics services (2018/2019: EUR 16.7 million).
Development of net assets and financial position
At June 30, 2020 the Group has borrowings under bank and loan financing arrangements of EUR 30.2 million, which is exceeded by cash equivalents of EUR 53.9 million, term deposits of EUR 20.0 million and other cash equivalents on segregated accounts of EUR 12.2 million, so that net cash at the balance sheet date amounts to EUR 55.9 million (June 30, 2020: EUR 64.2 million). Equity totalled EUR 390.8 million (June 30, 2019: EUR 338.9 million). The equity ratio amounted to 73.8 percent, lower than at the previous year's balance sheet date (June 30, 2019: 79.8 percent).
Changes to production capacity
Dividend and outlook for the financial year 2020/2021
Detailed information on business developments in the 2019/2020 financial year is provided in the annual report for the financial year 2019/2020. The report, together with the non-financial statement, can be viewed from 9 a.m. on Verbio's website www.verbio.de.
Information about VERBIO Vereinigte BioEnergie AG (VERBIO)
23.09.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
VERBIO Vereinigte BioEnergie AG
Ritterstraße 23 (Oelßners Hof)
+49 (0)341 308530-0
+49 (0)341 308530-998
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:
End of News
DGAP News Service