BDI-BioEnergy International AG, a leading technology supplier and specialized plant manufacturer in the waste to value field, reported a decline in revenues of 53.9 percent to 16.3 million euros in the financial year 2014. The reason for this was the delay in the implementation of two major biodiesel projects. The operating result (EBIT) in the reporting period was -5 million euros (previous year: 2.6 million euros). Due to a positive financial result (including taxes) the result for the period was improved to -1.7 million euros but remains below previous years’ level (previous year: 3.2 million euros). With an ongoing high order backlog and an excellent equity base BDI is well prepared for the future. In the financial year 2014, a dividend of 1.10 euro per share was distributed. 

The two major biodiesel projects in Croatia and the Netherlands got delayed due to difficulties in the project financing and the regulatory approval. Therefore, the order to cash through the high order backlog in 2014 did not go according to plan, which contributed significantly to the negative EBIT in 2014. Taking into account the 20 million euros project in Croatia (which we currently assess as restrained) the order backlog as at Dec. 31 amounted to 73.9 million euros (previous year: 74.1 million euros).

With the signing of a contract for the engineering and the delivery of a multifeedstock biogas plant in Poland, BDI has set a further milestone in the field of biogas production, based on waste. Successes in the biodiesel segment were the hand-over of a multifeedstock biodiesel plant in Hong Kong, the opening of the converted biodiesel plant in Greece and the delivery of engineering services and equipment to the U.S. The after-sales business developed exceptionally well and for the first time achieved revenues of more than 2 million euros, which is evidence for the quality of the customer service of BDI. 

At the German subsidiary UIC the laboratory and R&D capacities were extended and a new, modern market presence was created. Thereby, UIC has taken first successful steps towards the transformation from a pure component to a process unit supplier.

The cash flow from operating activities declined in the financial year 2014 from 9.6 million euros in the previous year to -4.1 million euros. With securities, cash and cash-equivalents amounting to 36.2 million euros at the end of the year and an equity base of 47.8 million euros—corresponding to an equity ratio of 69.7 percent—BDI is well prepared for the future.

BDI is planning future growth through the expansion of the business model via acquisitions in the green-tech segment and the commercialization of innovations from its own research and development. Initial successes in the implementation of research work are the construction of the algae pilot facility and the successful test of the bioCRACK pilot project in the OMV refinery in Schwechat. 

The annual report 2014 of BDI-BioEnergy International AG is available for downloading under the following link: Annual Report 2014.