BDI BioEnergy Q2 net income soars to €580,000 on sales rise

13 August 2010 08:42  [Source: ICIS news]

LONDON (ICIS)--BDI BioEnergy International’s second-quarter net income soared to €580,000 ($744,000) from €147,000 during the same period of last year due to a sharp rise in sales, the German biofuels company said on Friday.

Sales jumped 44% year on year to €9.12m, which the company said was attributable primarily to the progress made in its large projects in Amsterdam and Hong Kong.

Operating profits rose to €517,000 from a loss of €32,000 during the April to June period in 2009.

BDI said biodiesel production volumes had risen again in recent months.

“Due to pending political decisions relating to the taxation of biodiesel and to rules about biodiesel addition and due to unclear standards, investments in new biodiesel production plants are still being deferred, however,” it added.

The market for biogas plants for the processing of industrial and municipal waste had also developed very dynamically, said BDI.

“At the current time, positive annual earnings are guaranteed with the existing orders on hand,” the company added.

The company said it expected to reach the sales level of previous years again in the medium term and that it was still aiming for an earnings before interest and tax (EBIT) margin of up to 10%.

($1 = €0.78)

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By: Hilde Ovrebekk
+44 20 8652 3214

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