BDI BioEnergy’s Q1 period earnings plummet as sales fall by 22%

10 May 2012 10:45  [Source: ICIS news]

LONDON (ICIS)--BDI BioEnergy International’s period earnings during the first quarter of 2012 plummeted to €540,000 from €1.11m in the same period last year, following a drop in sales, the Austria-based biofuels firm said on Thursday.

The company’s total sales for the first quarter fell to €6.40m ($8.31m), down by 22% year on year, added BDI, reflecting a difficult market environment in the biodiesel sector.

BDI’s operating profit in the first quarter of 2012 fell sharply to €268,000 from €1.48m in the same quarter the year before.

The total orders on hand at BDI in the three months to 31 March 2012 amounted to €18.5m, down from €24.0m in the same period last year.

The company said it would continue to work on the strategic expansion of its business operations.

“BDI’s portfolio is to be broadened, with the aim of transforming the company from being a specialised plant manufacturer for the biodiesel and biogas industry to being a comprehensive supplier of complex industrial green tech solutions,” said Dagmar Heiden-Gasteiner, CFO at BDI.

“The focus in the 2012 fiscal year is therefore to be on the strategic realignment process that has already been initiated, in order to guarantee the company a successful long-term future,” she added.

In view of BDI’s “strategic realignment process”, the company said it was expecting its fiscal 2012 to be a year with poor economic results.

“BDI is to be guaranteed long-term economic success by cutting costs in various areas, by stabilising the BioGas operations successfully and by taking further concerted action,” the company said.

($1 = €0.77)

By: Franco Capaldo
+44 (0)20 8652 3214

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