DGAP-News

VERBIO Vereinigte BioEnergie AG maintains positive business development and adjusts earnings forecast for financial year 2013/2014 again

DGAP-News: VERBIO Vereinigte BioEnergie AG / Key word(s): 9-month
figures
VERBIO Vereinigte BioEnergie AG maintains positive business
development and adjusts earnings forecast for financial year 2013/2014
again

08.05.2014 / 08:00

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VERBIO AG maintains positive business development and adjusts earnings
forecast for financial year 2013/2014 again

* Biofuel production remains on a high level
* Increases in EBITDA to EUR 28.9 million and EBIT to EUR 12.4 million
* Strengthening of the equity ratio to nearly 60 percent
* Adjustment of the financing structure to future financing needs completed

* Raising of the earnings forecast for financial year 2013/2014

Leipzig, May 8, 2014 - VERBIO AG announces that company expectations for
the business performance to date and the future were exceeded in financial
year 2013/2014. For the continuing operations of the Group, consolidated
sales rose compared with the prior-year figure by 7.3 percent to EUR 573.1
million (9 M 2012/2013: EUR 534 million). This increase in sales is
essentially demand-related. With 466,890 tons from July 2013 to March 2014,
nearly 24 percent more biodiesel and bioethanol were produced than in the
corresponding period of the previous year. The biomethane production from
July 2013 to March 2014 amounted to 219,223 MWh. Meanwhile, the gross
profit margin also improved by nearly 67 percent from EUR 32.4 million to
EUR 54.0 million. Personnel expenses decreased by 6 percent amounting to
EUR 16.5 million (9 M 2012/2013: EUR 17.5 million), other operating
expenses decreased significantly by almost 22 percent, or EUR 4.9 million,
to EUR 17.5 million compared to the previous year. As a result, earnings
before interest, taxes, depreciation and amortization (EBITDA) rose
significantly by EUR 29.7 million to EUR 28.9 million. Increased production
and sales volumes as well as targeted cost reduction measures contributed
to these improved earnings. Operating profit (EBIT) for the reporting
period 2013/2014 was EUR 12.4 million (9 M 2012/2013: EUR -120.1 million).
Consolidated earnings before taxes (EBT) for the reporting period were EUR
9.7 Million (9 M 2012/2013: EUR -123.1 million), and net income for the
period was EUR 8.7 Million (9 M 2012/2013: -123.1 million). This resulted
in (diluted/undiluted)earnings per share of EUR 0.14 (9 M 2012/2013: EUR
-1.95).

The equity ratio increased further over the course of the financial year to
a comfortable 59.3 percent (June 30, 2013: 43.4 percent). The sharp