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DJ DGAP-News: BIOPETROL INDUSTRIES AG: BIOPETROL increases sales revenues - loss for 2010

ISIN: CH0023225938
WKN: A0HNQ5

Dienstag, 29. März 2011 | 07:48

BIOPETROL INDUSTRIES AG Key word(s): Final Results

29.03.2011 07:48

Dissemination of a Corporate News, transmitted by DGAP - a company of
EquityStory AG.
The issuer publisher is solely responsible for the content of this announcement.

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BIOPETROL increases sales revenues - loss for 2010

*Net loss of KEUR 73,009 including impairment charges of KEUR 47,755
*Difficult market conditions force production halt at German plant
*Production continues at better-situated Rostock and Rotterdam facilities

Baar, 29 March 2011: BIOPETROL INDUSTRIES AG, the Switzerland-based
producer of biodiesel and high quality pharmaceutical-grade glycerine,
today reported a net loss of KEUR 73,009 for 2010 amid continuing
overcapacity in the European biodiesel market which led to pressure on
margins and low utilization rates across the industry.

BIOPETROL has taken a total impairment for the year of KEUR 47,755 (2009:
KEUR 0). EBITDA was KEUR -9,808 for the year compared to KEUR -6,737 for
2009, while sales revenues were KEUR 369,238 (2009: KEUR 127,390).

As part of the company's response to these continuing difficult market
conditions, BIOPETROL today with regret informed the Works Council at its
plant in Schwarzheide, eastern Germany, that the company intends to end
production at that plant in June.

'This was an extremely difficult decision for the Board,' said Maarten
Roelfs, Chief Executive Officer of BIOPETROL. 'We will work closely with
the Works Council to mitigate the impact of the lost jobs as far as
possible.'

The ending of production will unfortunately result in the loss of 31
production positions at the plant. The Board has been able to save
administrative positions at Schwarzheide by giving these personnel
Group-wide duties.

Due to its location far from the sea, the Schwarzheide plant lacks the
transport links to seek new potential customers beyond its own oversupplied
region. The Board concluded that there is no prospect of improvement in the
foreseeable future.

'We are confident that the European biodiesel market will pick up in the
years to come, but unfortunately not quickly enough to allow us to use all
our plants economically in the short term,' said Mr Roelfs. 'Our plants in
Rotterdam and Rostock are better located to withstand the current difficult
market conditions as they have access to a wider pool of customers via sea
links.'

During 2010 BIOPETROL took a number of other actions to further drive cost
efficiency and competitiveness, including moving its commercial activities
from Zug to Rotterdam, the main hub of the European biodiesel industry.

About BIOPETROL:
With its German, Dutch and Swiss subsidiaries, BIOPETROL INDUSTRIES AG,
which has its head office in Baar (Switzerland), produces and sells
biodiesel and pharmaceutical-grade glycerine of the highest quality. Among
our customers are the oil industry and oil traders, large-scale fleet
operators, public short-distance transport, as well as the agricultural and
construction industries. The pharmaceuticals and cosmetics industries are
in addition supplied with glycerine of pharmaceutical quality. BIOPETROL
INDUSTRIES AG has annual production capacities in Schwarzheide, Rostock and
Rotterdam of 1,000,000 tonnes of biodiesel and 90,000 tonnes of
pharmaceutical-grade glycerine.

Disclaimer
This press release represents neither an offer for sale nor a request for
the submission of an offer to purchase or subscribe to securities. This
announcement and the information contained therein are not intended to be
directly or indirectly passed on to or within the United States of America,
Canada, Australia or Japan.

BIOPETROL INDUSTRIES AG
Baarermattstrasse 3
CH-6340 Baar (Switzerland)

Investor Relations Contact
Gerd Rückel
Phone +49 (0) 69 577 0 300 31
Mail: gerd.rueckel@biopetrol-ind.com

29.03.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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(END) Dow Jones Newswires

March 29, 2011 01:48 ET (05:48 GMT)

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