BIOPETROL INDUSTRIES AG: Strong Growth of Sales in 2011
BIOPETROL INDUSTRIES AG / Key word(s): Final Results
27.03.2012 07:55
Dissemination of a Corporate News, transmitted by DGAP - a company of
EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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BIOPETROL: Strong Growth of Sales in 2011
- Utilization rates of operating plants improved to 49% in 2H-2011
- Net loss of KEUR 34,693
- Market conditions expected to remain challenging in the near term
Baar, 27 March 2012: BIOPETROL INDUSTRIES AG, the Switzerland-based
producer of biodiesel and high quality pharmaceutical-grade glycerine,
today reported a net loss of KEUR 34,693 for 2011 amid continuing
overcapacity in the European biodiesel market, which led to pressure on
margins and low utilization rates across the industry. EBITDA was KEUR
-19,380 for the year compared to KEUR -9,808 for 2010, while sales revenues
were KEUR 616,108 (2010: KEUR 369,238). Cash flow before changes in working
capital was KEUR -21,104.
Despite the difficult market environment, operational performance showed
significant signs of improvement with the utilization rate of operating
plants in Rotterdam and Germany increasing from 38% in the first half of
2011 to 49% in the second half. In December, the utilization rate was an
even higher 54%.
Commenting on the results, Maarten Roelfs, Chief Executive Officer said:
'During 2011, BIOPETROL took a number of other actions to further drive
cost efficiency and competitiveness, including ending the production at the
plant in Schwarzheide. This gives us confidence going into next year,
despite its challenging outlook. The Board and management team remain fully
focused on improving the operational and financial performance of the
company, amidst difficult market conditions.'
Financing arrangements
During the period, BIOPETROL engaged in refinancing discussions resulting
in more favourable loan terms with its majority shareholder. The Company
will continue to explore opportunities to strengthen its balance sheet,
including diversifying its financing providers, where possible.
Board Composition
At the Annual General Meeting on 18th May 2012, Andreas Hubmann will stand
for election by shareholders. Ernest Mostert and Roland Pechtold will be
standing for re-election for a period of one year. Steven Kalmin, Richard
Marshall and Han Smits will leave the Board with effect as of the Annual
General Meeting.
Outlook
The overall outlook for the Group in 2012 remains challenging. The Board
and management team will continue to focus on improving the operational and
financial performance of the company, while market conditions are expected
to remain challenging for the near term.
About the company:
With its German, Dutch and Swiss subsidiaries, BIOPETROL INDUSTRIES AG,
which has its head office in Baar (Switzerland), produces and sells
biodiesel and pharmaceutical-grade glycerine of the highest quality. Among
our customers are the oil industry and oil traders, large-scale fleet
operators, public short-distance transport, as well as the agricultural and
construction industries. The pharmaceuticals and cosmetics industries are
in addition supplied with glycerine of pharmaceutical quality.
BIOPETROL INDUSTRIES AG has annual production capacities in Schwarzheide,
Rostock and Rotterdam of 850,000 tonnes of biodiesel and 60,000 tonnes of
pharmaceutical-grade glycerine.
Disclaimer
This press release represents neither an offer for sale nor a request for
the submission of an offer to purchase or subscribe to securities. This
announcement and the information contained therein are not intended to be
directly or indirectly passed on to or within the United States of America,
Canada, Australia or Japan.
BIOPETROL INDUSTRIES AG
Baarermattstrasse 3
CH-6340 Baar (Switzerland)
Investor Relations Contact
Gerd Rückel
Phone +49 (0) 69 577 0 300 31
Mail: gerd.rueckel@biopetrol-ind.com
27.03.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
BIOPETROL INDUSTRIES AG / Key word(s): Final Results
27.03.2012 07:55
Dissemination of a Corporate News, transmitted by DGAP - a company of
EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
BIOPETROL: Strong Growth of Sales in 2011
- Utilization rates of operating plants improved to 49% in 2H-2011
- Net loss of KEUR 34,693
- Market conditions expected to remain challenging in the near term
Baar, 27 March 2012: BIOPETROL INDUSTRIES AG, the Switzerland-based
producer of biodiesel and high quality pharmaceutical-grade glycerine,
today reported a net loss of KEUR 34,693 for 2011 amid continuing
overcapacity in the European biodiesel market, which led to pressure on
margins and low utilization rates across the industry. EBITDA was KEUR
-19,380 for the year compared to KEUR -9,808 for 2010, while sales revenues
were KEUR 616,108 (2010: KEUR 369,238). Cash flow before changes in working
capital was KEUR -21,104.
Despite the difficult market environment, operational performance showed
significant signs of improvement with the utilization rate of operating
plants in Rotterdam and Germany increasing from 38% in the first half of
2011 to 49% in the second half. In December, the utilization rate was an
even higher 54%.
Commenting on the results, Maarten Roelfs, Chief Executive Officer said:
'During 2011, BIOPETROL took a number of other actions to further drive
cost efficiency and competitiveness, including ending the production at the
plant in Schwarzheide. This gives us confidence going into next year,
despite its challenging outlook. The Board and management team remain fully
focused on improving the operational and financial performance of the
company, amidst difficult market conditions.'
Financing arrangements
During the period, BIOPETROL engaged in refinancing discussions resulting
in more favourable loan terms with its majority shareholder. The Company
will continue to explore opportunities to strengthen its balance sheet,
including diversifying its financing providers, where possible.
Board Composition
At the Annual General Meeting on 18th May 2012, Andreas Hubmann will stand
for election by shareholders. Ernest Mostert and Roland Pechtold will be
standing for re-election for a period of one year. Steven Kalmin, Richard
Marshall and Han Smits will leave the Board with effect as of the Annual
General Meeting.
Outlook
The overall outlook for the Group in 2012 remains challenging. The Board
and management team will continue to focus on improving the operational and
financial performance of the company, while market conditions are expected
to remain challenging for the near term.
About the company:
With its German, Dutch and Swiss subsidiaries, BIOPETROL INDUSTRIES AG,
which has its head office in Baar (Switzerland), produces and sells
biodiesel and pharmaceutical-grade glycerine of the highest quality. Among
our customers are the oil industry and oil traders, large-scale fleet
operators, public short-distance transport, as well as the agricultural and
construction industries. The pharmaceuticals and cosmetics industries are
in addition supplied with glycerine of pharmaceutical quality.
BIOPETROL INDUSTRIES AG has annual production capacities in Schwarzheide,
Rostock and Rotterdam of 850,000 tonnes of biodiesel and 60,000 tonnes of
pharmaceutical-grade glycerine.
Disclaimer
This press release represents neither an offer for sale nor a request for
the submission of an offer to purchase or subscribe to securities. This
announcement and the information contained therein are not intended to be
directly or indirectly passed on to or within the United States of America,
Canada, Australia or Japan.
BIOPETROL INDUSTRIES AG
Baarermattstrasse 3
CH-6340 Baar (Switzerland)
Investor Relations Contact
Gerd Rückel
Phone +49 (0) 69 577 0 300 31
Mail: gerd.rueckel@biopetrol-ind.com
27.03.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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