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
(PresseBox) (Pritzwalk, ) 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.

Kontakt

EOP Biodiesel AG
Am Hünengrab 09
D-16928 Pritzwalk
Social Media