Petrotec sees sales increase and expand in Europe
German waste to biodiesel producer Petrotec has announced increased sales of 27% compared to Q1 2011 and also expanded its operations into Spain.
The overall group generated revenues of €42.1 million ($54.4 million) and an operating profit of €600,000 EBIT (Earnings Before Interest and Tax) in the first three months of 2012, up a third from the same time last year.
A statement from Petrotec says it has ‘stabilised our biodiesel production activity compared to Q4 2011, although market conditions have been quite challenging. To enable sales growth, we’ve expanded our collection and trading activities and further invested in production facilities and logistics’.
The number of employees has also risen by six to 102 since December.
Petrotec has also opened a new office in Barcelona, Spain after research spotted business opportunities using cooking oil methyl ester in the country.