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BIOPETROL – Annual General Meeting focuses on financial restructuring

Zug/Switzerland, 2nd July 2009 At this year’s Annual General Meeting of BIOPETROL INDUSTRIES AG, Zug/Switzerland, the Management Board and Supervisory Board not only presented the results of the financial year 2008, but they revealed opportunities and potential for the future development of the business. Against the background of the problems in particular in the German biodiesel market, which the shareholders were aware of due to the media and letters and publications by the company, all of the resolutions were passed without opposition and the measures relating to the financial restructuring well received. ... more

Open letter to German politicians

Ladies and Gentlemen,
Your unparalleled lack of ideas, alarming lack of expertise in economic policy, and uncritical response to adroitly presented wishes of lobbyists, have enabled you within a few years to bury the former noble objectives of environmental protection, the future-oriented supply of biofuels, and a young German industrial sector dedicated to alternative fuels.

Do you remember? The taxing of biofuels was originally governed by subsection 2a of the Mineralölsteuergesetz (MinöStG, law on the taxation of mineral oils), under which biodiesel was to be completely exempted from the mineral oil tax until 31 December 2009 as part of an annual overcompensation settlement. This measure was intended to speed up the introduction of the then virtually non-existent biofuels into the market, the reasons being the protection of the environment and of the climate. A further goal was to safeguard energy supplies on a long-term basis and to reduce potential international conflicts over fossil fuels. We remind you of the substantiation then given by the financial committee: ... more (PDF)

BIOPETROL misses target 2008 due to political handicaps — financial restructuring 2009 successfully completed

Zug/Switzerland, 19th May 2009 Rarely has a financial year brought such drastically radical changes for the international economy as did 2008. Industrial and newly industrializing countries all around the world find themselves in a serious recession, and international trading is stagnant. The volume of traffic, thus also the demand for mineral-oil products, including the biodiesel blending volume, fell by 14% in Germany in 2008. Conditions in the other European countries are comparable. The mineral oil tax on biodiesel in an open free market (B100), introduced in August 2006 following an unexpected reversal of government policy, has virtually brought sales of biodiesel at German filling stations to a standstill.

BIOPETROL wins market share
In this environment, nevertheless, BIOPETROL INDUSTRIES AG was able to win additional market share and push sales (excluding energy tax) up by 35.7% to 296.0 million euro (previous year: 218.1 million euro). Of these sales, 51.1% (previous year: 63.7%) were made to Germany and 48.9% (previous year: 36.3%) mainly to other European countries. We were able to exploit the logistical advantages of our seaport locations at Rostock and Rotterdam to strengthen our international trade in biodiesel and biodiesel components. ... more

BIOPETROL INDUSTRIES AG successful financial restructuring

Zug, 22nd February 2009 On the 16th February this year BIOPETROL reported the necessity for financial restructuring aimed at ensuring the continuation of BIOPETROL INDUSTRIES AG. Since then many meeting have been held with Bond-Holders, Banks, potential investors and business partners to discuss their possible contributions to securing and continuation of the business of the BIOPETROL Group. ... more

BIOPETROL INDUSTRIES AG prepares financial restructuring

Zug, 16th February 2009 Since the middle of 4Q 2008 BIOPETROL INDUSTRIES has experienced drastically worsened market conditions in Europe and in particular in the important markets of Germany and the UK.

2008 targets not reached
According to currently available preliminary financials, BIOPETROL INDUSTRIES AG expects to close the financial year 2008 with a turnover of around EUR 300m (2007: EUR 218.1m), a negative EBIT of around EUR -11.5m (2007.: EUR 5.4m) and with a loss after tax of around EUR –10m (2007: profit of 4.4m). The operating cash flow is expected to be around EUR -20m (2007: EUR -7m). The balance sheet is expected to show total assets of around EUR 171m (2007: EUR 202m) and total equity of around EUR 65.0 m. At 31st December 2008 the cash and cash equivalents less current account financing was EUR -15.2m. Based on the preliminary figures for the financial year 2008 and according to the valuation resulting from the going concern planning which was set up for restructuring purposes, BIOPETROL INDUSTRIES AG is currently not overindebted. ... more

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Complies with ISO 9001: 2008

 Complies with ISO 9001:2008

 

 BIOPETROL
FORUM 2
Edition May 2008
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 10 FACTS ABOUT BIODIESEL
PDF, 156 KB
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 ROTTERDAM
Progress of construction work
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“BIODIESEL IS NOW THE LEADING SUSTAINABLE ALTERNATIVE FUEL.”
Werner Klink, Supervisory Board Chairman, BIOPETROL INDUSTRIES AG