15 May 2009 11:05 [Source: ICIS news]
LONDON (ICIS news)--BioDiesel International (BDI) reported that lower associated company income helped depress first-quarter consolidated earnings by 12.5% to €0.70m ($0.96m), the Austrian company said on Friday.
BDI's earnings before interest and tax were 5.7% higher year on year at €0.70m, against the backdrop of tough market conditions.
The biodiesel plant maker said it benefited in the quarter from high-margin engineering commissions and an insurance compensation payment.
First-quarter sales were lower than expected, down 35.1% at €7.24m, because of project delays and a lack of new commissions for major projects, it said.
BDI said, however, that its after-sales business, which helps with the optimisation, retrofitting and upgrading of existing biodiesel plants, was developing encouragingly.
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