EOP Biodiesel AG manages turn-around in q3 2007/08e
Revenues are up 150% in q3 2007/2008 year-on-year / earnings are still significantly negative in the first nine months
(PresseBox) (Pritzwalk, Germany, )EOP Biodiesel AG increased its revenue by 150% to 26.7m euro in the third quarter of the financial year 2007/2008 (1 Jan. - 31 March 2008) compared to the same period the year before (10.7m euro). EBIT margin deteriorated to -2.1m euro (previous year quarter: -1.7m euro). However, March 2008 saw a positive monthly result and also in April 2008 EOP was back in the black figures, again. The reason for this are stable raw material costs as well as rising biodiesel prices.
"Should the current constellation of raw material and selling prices stay stable, we will break even in the fourth quarter of our financial year", says CFO Prof. Dr. Karl- Wilhelm Giersberg. Moreover, with the help of the new railway connection directly at the Pritzwalk plant, which was inaugurated in May 2008, transport costs could be significantly reduced. Additionally, turn-around speed could be strongly increased.
"With the help of the direct railway connection we can now make full use of the 130,000 tons production capacity p.a. in the coming financial year", says CEO Sven Schön. The successful establishment in the market for blended biodiesel, the socalled B5 market, is important for the sustainable corporate success. EOP Biodiesel has worked hard to establish its market position as a preferred supplier for the mineral oil industry within over a year's time.
In total, EOP Biodiesel AG had a revenue of 67.7m euro in the first nine months of 2007/2008 (previous year: 29.7m euro), plus 128%. EBIT for the same time period was -4.3m euro (previous year -0.6m euro), whereby last year was profiting from investment grants. On 31 March 2008, EOP Biodiesel AG had 61 employees.