European biofuels producer VERBIO has reported a significant increase in its results for the first three months of the 2019/20 financial year, compared to a year ago.
Group revenues increased by 23% to €210.1 million, up from €170.7 million in the previous year period. EBITDA for the three months was €23.8 million, significantly higher than the €16.1 million recorded the year before.
In terms of biofuel production, the company noted that the quarter was “characterised by significant improvements in margins for bioethanol compared to the same period in the previous year, and by a good and stable margin for biodiesel”.
Capacity utilisation of VERBIO’s production plants in both fuel sectors was also good, as was production at its biomethane plants.
Biodiesel and bioethanol production in the three months to 30 September 2019 increased by 8.5% to 195,706 tonnes, while biomethane production increased by 20.9% to 186.7GWh.
VERBIO's biofuels achieve carbon dioxide savings of up to 90% compared to petrol or diesel. Its annual production capacity amounts to approximately 660,000 tonnes of biodiesel, 260,000 tonnes of bioethanol and 750GWh of biomethane.
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