Germany’s Verbio 2011 profit slumps 84% to €1.3m

21 March 2012 07:39  [Source: ICIS news]

SINGAPORE (ICIS)--Verbio’s 2011 net profit shrank 84% to €1.3m ($1.7m), while its sales jumped 44% to €754m, the German biofuels producer said on Wednesday.

Its operating profit fell 27% to €7.6m, hit by greater depreciation of its bio-methane facilities, the company said in a statement.

Verbio said its fourth-quarter net profit stood at €2.4m, while sales totalled €214.6m.

The company expects sales for the first half of 2012 to be between €350m-400m, it said.

($1 = €0.76)

By: Samuel Wong

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