Petrotec release figures for first nine months of 2013

Petrotec, a European producer of waste-based biodiesel predominantly from used cooking oil, announced revenues at group level of €144.6 million for the first nine months of 2013.

This new total is up €21 million for the same time last year. The company also generated an operating profit (EBIT) of €6.2 million in the first nine months of 2013 (up €3.1 million on 2012).

Petrotec believes a ‘strong demand, supported by increasing production volumes, were major contributors to this improved financial result of the first nine months 2013’.

‘We continued enjoying relatively good market conditions and a high demand for product, especially in Germany. We’ve sold close to 130,000 tonnes of its waste-based biodiesel, up 22.4% compared to the same period last year,’ a company statement read.

Total assets as of September 30 2013 had declined by €2.1 million to €57.2 million however due to what Petrotec calls ‘a decline in inventories’.