BDI Q3 report discusses new algae business, UK biodiesel contract
November 13, 2015
BY BDI-BioEnergy International AG
BDI-BioEnergy International AG developed a new process for the production of high-value products from algae in its in-house research and development department. The newly founded 100 percent subsidiary, BDI-BioLife Science GmbH, now invests in the construction of its own production plant located in Hartberg/Steiermark, Austria.
BDI reports revenues of €19.9 million in the third quarter of 2015 (previous year: €11.5 million). The operating result (EBIT) amounted to negative €3.4 million in the reporting period (previous year: negative €4.1 million) and will improve significantly by the end of the year after execution of the existing orders. Due to the positive financial result, a net profit for the period of €0.7 million was achieved (previous year: negative €1.8 million). The cash flow from operating activities of €3.5 million (previous year: negative €3.8 million) is based on advance payments from clients. Cash and cash equivalents as well as marketable securities amount to a total of €49.5 million by Sept. 30 (Dec. 31, 2014: €36.2 million).
The order backlog amounted to €109.8 million by the end of September (previous year: €70 million) and was therefore significantly increased compared to the third quarter of 2014. The positive development is mainly based on the new projects in U.K.
The implementation of the follow-up order of an existing client in the U.K. was successfully started. The biodiesel project for the same client—for the treatment of commercial and industrial waste fats—which began at the beginning of the year is already in the installation phase. The biogas plant built in Austria for the Heineken Group is currently undergoing its biological start-up. In addition, the biogas plant in Poland is close to completion.
With this considerable order backlog, an equity base of €47.9 million and an equity ratio of 59.9 percent, BDI continues to be well-equipped in order to advance the strategic expansion of the business activities via a broader positioning of the core competencies in the field of green technology as well as the diversification in the BioLife Science field.
The interim report on the third quarter of 2015 is available for download here.
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