31 March 2011 11:37 [Source: ICIS news]
LONDON (ICIS)--BDI BioEnergy International (BDI) posted 2010 net income of €3.7m ($5.2m), up 46% year on year, due to a sharp rise in sales, the Austria-based biofuels company said on Thursday.
BDI's sales in 2010 increased by 18% from the year before to €39.9m, attributable primarily to the progress made in its large projects, the company said.
“Growing environmental awareness and global climate protection agreements are increasing demand for alternative biofuels and viable long-term solutions for the processing of industrial waste materials and by-products,” said BDI CEO Wilhelm Hammer.
Looking ahead, the company said it has laid the foundations for further growth and is continuing to strengthen its market position as a manufacturer of special plants for producing high-quality biofuels from by-products and waste materials.
BDI added that it will be investigating possible acquisitions in order to expand its product portfolio. The group's management expects to reach the sales level of the previous years again in the medium term and is still aiming for an earnings before interest and tax (EBIT) margin of up to 10%.
($1 = €0.71)
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