Verbio profits on biodiesel exports

By Ryan C. Christiansen | November 13, 2008
Web exclusive posted Nov. 19, 2008 at 11:10 a.m. CST

German biofuels producer Vereinigte BioEnergie AG (Verbio) reported higher profits during the first nine months of 2008 due to increased biodiesel exports to Eastern Europe. The profits were made despite a significant decrease in sales within Germany as a result of increased German taxes on biofuels and financial losses related to ethanol production, the company said. The company reports profits in biodiesel were 16.4 million ($20.8 million), while losses in ethanol were 1.5 million ($1.9 million).

Verbio has been running at 94 percent production capacity and increased its biodiesel output to 300,000 metric tons (82.1 million gallons) during the period, up from 260,000 metric tons (71.2 million gallons) the previous year. The company said it exported 40 percent of its biodiesel production in an environment where domestic sales of biodiesel were down 43 percent during the first half of the year.

Verbio's annual biodiesel production capacity is 450,000 tons (123.2 million gallons).

Both of the company's ethanol plants were off-line during part of the year due to high prices for grain, the company said.
 
 
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