13 November 2012 08:12 [Source: ICIS news]
SINGAPORE (ICIS)--BDI - BioEnergy International incurred a €4.1m ($5.19m) net loss in the third quarter of 2012, reversing a €241,000 profit made in the same period last year, with sales down by 62%, the Austrian firm said on Tuesday.
Sales for the three months to September 2012 shrank to €3.9m from €10.1m, the company said in a statement.
“Due to the difficult market situation and the poorer sales and earnings development than planned in the BioGas segment, BDI made extraordinary goodwill write-downs in the cash-generating unit ‘Biogas segment’ of €3.0m,” it said, adding that the write-downs had no effect on cash flow.
The company recorded an operating loss of €4.9m against a €562,000 profit made in the same period last year, it said.
In the first nine months of 2012, the company registered a loss of €3.3m, with sales down by 30.8% at €19.1m, it said.
The company incurred an operating loss of €4.5m in the January-September period of 2012, compared with a profit of €3.2m in the same period a year earlier, it said.
“The decrease in sales is attributable in particular to delays in order intake and project implementation,” BDI said.
($1 = €0.79)
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