TheBioenergySite Latest News
BIOGAS NORD Looking at €38 million
GERMANY - BIOGAS NORD AG has confirmed its turnover and profit targets for the 2008 business year. The company aims to increase its total turnover to €38 million over the year, declared board chairman Gerrit Holz at the firm’s general meeting in Bielefeld.
The proportion accounted for by activities outside Germany is already set to grow from 14% in the previous twelve-month period to an estimated 35% this year. The forecast is based on winning orders worth €40 million during the current year. A total turnover figure of €25.287 million was achieved in the previous year. According to forecasts, this year’s profits are likely to be affected by restructuring measures, but they will still be an improvement on 2007. Mr Holz expects an improvement in EBIT to minus €2.4 million (last year’s figure was minus €4.375 million).
Those present at the general meeting, who represented 67.6% of the company’s share capital, voted in favour of all the points on the agenda with only a few dissenting opinions. Approved proposals included the creation of authorized capital stock amounting to €1,281 million. “We have set ourselves ambitious targets for the 2008 business year, and are confident that we can achieve them”, declared CFO Matthias Kubat optimistically at the general meeting. The conditions in which the sector operates are set to improve considerably from 2009 onwards, once amendments to the German renewable-energy law (EEG) come into force. This is already being reflected in an increasing willingness on the part of customers, and particularly of new groups of customers, to invest in the sector.
BIOGAS NORD has also made various fruitful efforts on its own account with respect to consolidation, including moderate downsizing of its workforce and the recent successfully completed capital increase. The expansion of the company’s sales activities to southern Germany and the acquisition of customers from new target groups - notably energy supply and industrial companies, which are demonstrating an increased willingness to invest in biogas - have provided the basis for a strong increase in the turnover of BIOGAS NORD on its home market. BIOGAS NORD is also expanding its range by offering customers additional services, particularly in the areas of repair & maintenance and finance. Lastly BIOGAS NORD is also working on the further development of its own plant system technology.
According to statements from Messrs Holz and Kubat, the activities of BIOGAS NORD outside Germany are on course to achieve successful consolidation in the company’s key markets of Spain, Italy, the United Kingdom, Poland and the Netherlands. With the implementation of current plant construction projects, the company’s subsidiaries will soon make a significant contribution to the group’s overall results, according to the company board.
TheBioenergySite News Desk
Latest Bioenergy Industry News
Schafer Leads US Delegation to Brazil Conference
USDA Invites Applications for Biorefinery Loans- Biofuels Not to Blame for Food Price Rises
CAP Health Check Will Help Farmers- Energy Diversification and Climate Change
Immediate Reform of UN Body Urged- Project Breaks Solar Efficiency Record
- Ethanol Agreement Between China and Brazil
Ethanol from Sugar for Angola- Biodiesel Plant Opens in Danville
