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EOP Biodiesel AG achieves turnaround also on group level in the first quarter 2008/2009

EBIT recovers to EUR 1.7m - group revenue increases to EUR 41,8m - group structure is being revised

(PresseBox) (Pritzwalk, ) EOP Biodiesel AG increased group revenue by 65 percent to EUR 41.7m (without mineral oil tax) in the first quarter of the financial year 2008/2009 (reference date: 30 September 2008), compared to EUR 24.7m in the 1st quarter 2007/2008. EBIT reversed into positive numbers and was at EUR 1.7m (previous year: EUR -1.4m). Also, the group profits in the first quarter were positive with EUR 0.28m (previous year: EUR -1.5m). These numbers were announced today at the annual general meeting in Pritzwalk.

"Focusing on the B5-makret has paid off", says CEO Sven Schön. "We have strongly increased our sales and we have reliable clients with our customers from the mineral oil industry." Furthermore, the Austrian subsidiary has contributed significantly to the revenue growth for the first time.

The current financial year will see EOP Biodiesel AG group further revising its group structure. In Rumania the farming business has been stopped and leased to third parties. A trade company is now dealing with purchasing raw material from South-East Europe. The Baltic Holding Company in Latvia is up for sale, as the oil mills with an annual pressing capacity of 10,000 t has no reasonable size for the group. Moreover, the Latvian government has withdrawn its previously promised subsidies for the biodiesel production.

Financially, the EOP Biodiesel AG stands on solid foundations. "The equity ratio including government grants amounts to more than 30 per cent," says CFO Prof. Dr. Karl-W. Giersberg. "For the current financial year we aspire to achieve a group revenue of around EUR 150m." Due to the strongly fluctuating raw material and finished goods prices, a profit forecast, however, is not possible at this point of time.

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