EOP Biodiesel AG
EOP Biodiesel AG: EOP Biodiesel AG achieves turnaround also on group level in the first quarter 2008/2009
EOP Biodiesel AG / Quarter Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- EOP Biodiesel AG achieves turnaround also on group level in the first quarter 2008/2009 EBIT recovers to €1.7m – group revenue increases to €41,8m – group structure is being revised Pritzwalk, Germany, 16 December 2008 - EOP Biodiesel AG increased group revenue by 65 percent to €41.7m (without mineral oil tax) in the first quarter of the financial year 2008/2009 (reference date: 30 September 2008), compared to €24.7m in the 1st quarter 2007/2008. EBIT reversed into positive numbers and was at €1.7m (previous year: €-1.4m). Also, the group profits in the first quarter were positive with €0.28m (previous year: €-1.5m). These numbers were announced today at the annual general meeting in Pritzwalk. 'Focusing on the B5-makret has paid off', says CEO Sven Schön. 'We have strongly increased our sales and we have reliable clients with our customers from the mineral oil industry.' Furthermore, the Austrian subsidiary has contributed significantly to the revenue growth for the first time. The current financial year will see EOP Biodiesel AG group further revising its group structure. In Rumania the farming business has been stopped and leased to third parties. A trade company is now dealing with purchasing raw material from South-East Europe. The Baltic Holding Company in Latvia is up for sale, as the oil mills with an annual pressing capacity of 10,000 t has no reasonable size for the group. Moreover, the Latvian government has withdrawn its previously promised subsidies for the biodiesel production. Financially, the EOP Biodiesel AG stands on solid foundations. 'The equity ratio including government grants amounts to more than 30 per cent,' says CFO Prof. Dr. Karl-W. Giersberg. 'For the current financial year we aspire to achieve a group revenue of around €150m.' Due to the strongly fluctuating raw material and finished goods prices, a profit forecast, however, is not possible at this point of time. Media Contact: Cortent Kommunikation AG Volker Siegert Tel.: +49 69 5770300-0 Fax: +49 69 5770300-10 Mail: info@cortent.de www.eopbiodieselag.de This announcement is neither an offer to buy nor an invitation to make an offer to purchase or subscribe to securities. No public offer of shares in EOP Biodiesel AG was made in connection with the open market launch of EOP shares on the Frankfurt Stock Exchange. This announcement does not constitute a share prospectus. It and the information that it contains are not intended for direct or indirect circulation to or within the United States of America, Canada, Australia or Japan. 16.12.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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