Petrotec AG achieves most successful business year since IPO

German-based Petrotec AG has achieved record results during the 2013 business year.

The waste to biodiesel producer has reported group sales of €193 million, 16% up from last year's results, and an operating profit of €4.9 million, an increase of €2 million. Their net profit has increased significantly from €0.9 million in 2012 to €4 million in 2013.

Petrotec AG also reached a new waste-based biodiesel production record of over 138,000 tonnes, more than a 7% increase from the year before.

The company's success has largely been put down to its production activity growth in Spain and starting production with a local plant to increase local production capacity, along with building up trade activity.

An upgrade to one of the plant's central processes is expected to reach completion by the autumn.

Forecasts for 2014 predict that sales will reach between €150 million and €220 million.