EOP Biodiesel AG
EOP Biodiesel AG: Sales more than double in first half
EOP Biodiesel AG / Half Year 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: Sales more than double in first half EBIT as at 31.12.2007 down to -€2.1 million – Position in B5 market consolidated – Brighter prospects for financial year 2008/2009 Pritzwalk, Germany, 28 March 2008 – EOP Biodiesel AG generated sales of €39.5 million in the first six months of the financial year 2007/2008 (previous year: €18.1 million), an increase of 119 per cent. Of this, 88 per cent resulted from the sale of biodiesel, 11 per cent from the sale of rapeseed expeller and one per cent from trading activities. As the prices for raw materials were high and could not be passed on to customers in full, EBIT dropped to -€2.1 million (previous year +€1.0 million). The company posted a deficit of -€2.8 million for the period (previous year +€0.6 million). High energy costs and increased transport costs also affected the result. Until the completion of own works siding, higher transport costs are unavoidable as biodiesel has to be transported by truck to a nearby railway loading station. As operations on the works siding will begin late, in May 2008, due to adverse weather conditions, the effects of lower costs will not be felt until the next financial year, 2008/2009. EOP Biodiesel has further strengthened its position in the B5 market this year and concluded a number of supply contracts with the mineral oil industry. The company therefore remained unaffected by the collapse of the B100 market in January 2008. Production capacity utilisation of over 75% has already been secured for the 2008 calendar year. Sales are set to rise considerably due to of the new supply contracts. EOP Biodiesel also expects margins to improve on the back of an improved pricing policy and lower costs. All in all, sales of approximately €95 million are forecast for 2007/2008. However, the company will be unable to post a balanced result. 'We are currently feeling slight improvements,' says CFO Prof. Dr. Karl-Wilhelm Giersberg. 'As a result, we expect to be able to grow our sales and market share in the blended market.' EOP Biodiesel AG’s interim report is available at www.eopbiodieselag.de. Media Contact: equinet Communications AG Christian Dose Tel.: +49 69 58997-302 Fax: +49 69 58997-349 E-mail: communications@equinet-ag.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. 28.03.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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