BDI-BioEnergy International AG released its financial results for the first half of 2015. The company’s financial development was affected by the ongoing difficult market environment and delays in biodiesel projects during the first six months of this year. Due to the sale of participations, however, its cash holdings increased significantly, helping the firm achieve a positive net result. 

BDI recorded revenues of €11.7 million (USD$12.99 million) for the first half year 2015. In 2014, revenues for the same time period were €8.6 million. The operating result (EBIT) was negative €2.9 million in the reporting period, while the previous year was negative €2.5 million. The company achieved a positive net result of €0.6 million, “mainly due to the sale of participations,” the company stated. The previous year’s positive net result in the same time period was negative €2.5 million. The cash flow from operating activities of €2.7 million in the first six months of 2015 is based on advance payments of clients, while cash flow from operating activities in the same period last year was negative €3.9 million. Cash and cash equivalents as well as securities of the long-term assets correspond to total assets of €49.1 million as of June 30, while the previous year’s was €36.2 million in the same time frame. 

The order backlog of €85.5 million for the first half of this year improved significantly compared to the first half of 2014, which was €70.8 million, BDI stated. The positive development is attributable to project orders from Great Britain and Austria. 

This May, BDI was able to successfully complete a retrofit project in Spain, expanding an existing plant with the latest high-FFA esterification technology allowing production of second-generation biodiesel made from difficult-to-process wastes. The retrofit in Great Britain is in the middle of the engineering phase and is proceeding as planned, as well as biogas plants in Poland and Austria. 

With an equity position of €48.1 million and an equity ratio of 62.4 percent, BDI says it is well-prepared to advance the strategic extension of its business activities by a broader setup of core competencies in green technology. Due to progress in research and development projects, as well as the potential acquisition of additional technologies, the company is confident it will realize sustainable success in the mid-term. 

The interim report for the first half of 2015 is available for download here.