Werbung
Meldungen 09.02.2017

Green Plains: 2016 Results

Green Plains Inc. aus den USA hat im Geschäftsjahr 2016 Umsatz und Gewinn deutlich verbessert. Wir veröffentlichen die Mitteilung der Spezialistin für die Speicherung und den Transport von Biotreibstoff dazu im Wortlaut.

Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet. Die presserechtliche Verantwortlichkeit liegt bei dem meldenden Unternehmen.

Results for the Fourth Quarter of 2016
    Net income of $18.7 million, or $0.47 per diluted share
    Record ethanol production of 334.2 million gallons
    EBITDA of $83.5 million

Results for the Full Year of 2016
    Net income of $10.7 million, or $0.28 per diluted share
    Company produced 1.1 billion gallons, a 21% increase over 2015
    EBITDA of $174.4 million

OMAHA, Nebraska - Green Plains Inc. (GPRE) announced financial results for the fourth quarter of 2016. Net income attributable to the company was $18.7 million, or $0.47 per diluted share, for the fourth quarter of 2016 compared with net loss of $(3.6) million, or $(0.09) per diluted share, for the same period in 2015. Revenues were $932.1 million for the fourth quarter of 2016 compared with $739.9 million for the same period last year.

“Green Plains finished 2016 on a strong note, generating $74.3 million of segment operating income in the fourth quarter as we successfully integrated the acquisitions of three ethanol plants and Fleischmann’s Vinegar Company into our platform,” said Todd Becker, president and chief executive officer. “Each of our business units performed well during the quarter and the year, delivering strong results by continuing to focus on executing our long term strategy of diversification and achieving scale in all of our businesses.”

With the addition of Fleischmann’s Vinegar Company in the fourth quarter of 2016, Green Plains restructured its operating segments. The four segments include: ethanol production, agribusiness and energy services, food and food ingredients and partnership. Please see segment information below for more detail.

During the fourth quarter, Green Plains produced 334.2 million gallons of ethanol compared with 260.8 million gallons for the same period in 2015. The consolidated ethanol crush margin was $81.6 million, or $0.24 per gallon, for the fourth quarter of 2016 compared with $28.9 million, or $0.11 per gallon, for the same period in 2015. The consolidated ethanol crush margin is the ethanol production segment’s operating income before depreciation and amortization, which includes corn oil production, plus intercompany storage, transportation and other fees, net of related expenses.

Revenues were $3.4 billion for the year ended Dec. 31, 2016, compared with $3.0 billion for the same period in 2015. Net income attributable to the company for the year ended Dec. 31, 2016, was $10.7 million, or $0.28 per diluted share, compared with net income of $7.1 million, or $0.18 per diluted share, for the same period in 2015.

“U.S. ethanol demand was strong in 2016 and we expect that to continue in 2017. In addition, exports were the strongest we have seen in 5 years. U.S. ethanol remains competitively priced and export demand could be even stronger this year,” Becker added. “We expect to see solid infrastructure growth in support of E15 with new locations and more retailers expanding demand for the product. In all, we believe gasoline demand will continue to grow, leading to an improved ethanol margin environment as we approach the beginning of summer driving season in April.

“We invested over $550 million of growth capital in 2016, which we believe positions us to deliver stronger results in the future. We continue to evaluate additional growth opportunities across all of our segments and we look forward to the completion of the Jefferson Energy Terminal joint venture in the second half of this year,” stated Becker.

Full Year Highlights

    On Jan. 1, 2016, Green Plains sold the storage and transportation assets of the Hopewell and Hereford ethanol production facilities to Green Plains Partners for $62.3 million.

    On June 14, 2016, Green Plains Inc. and Jefferson Gulf Coast Energy Partners, a subsidiary of Fortress Transportation and Infrastructure Investors LLC, announced the formation of a 50/50 joint venture to construct and operate an intermodal export and import fuels terminal at Jefferson’s existing Beaumont, Texas terminal. Green Plains will offer its interest in the joint venture to the partnership once commercial development is complete, which is expected during the second half of 2017.

    In Aug. 2016, Green Plains completed a private offering of $170 million aggregate principal amount of 4.125% convertible senior notes that will mature on Sept. 1, 2022. The net proceeds from the offering were used to finance the recent acquisitions.

    On Sept. 23, 2016, Green Plains acquired three ethanol plants located in Madison, Ill., Mount Vernon, Ind. and York. Neb. for approximately $235 million in cash plus certain working capital adjustments. Concurrently, the ethanol storage assets were sold to Green Plains Partners LP for $90 million. The plants added 230 million gallons per year of ethanol production capacity.

    On Oct. 3, 2016, Green Plains acquired SCI Ingredients Holdings, Inc. and its wholly owned subsidiary, Fleischmann’s Vinegar Company, Inc., for approximately $258 million, financing the transaction with $135 million of debt and the balance with cash on hand. Fleischmann’s Vinegar Company operates as a standalone business.

Results of Operations
Consolidated revenues increased $192.2 million for the three months ended Dec. 31, 2016, compared with the same period in 2015. Revenues were impacted by an increase in ethanol volumes sold and a higher average price realized for ethanol along with an increase in volumes of cattle sold, plus the addition of Fleischmann’s Vinegar in the quarter. The increase in revenues were partially offset by lower volumes and average realized prices for grain sold.

Operating income increased $43.3 million for the three months ended Dec. 31, 2016, compared with the same period last year primarily due to increased margins on ethanol production.  Interest expense increased $8.3 million for the three months ended Dec. 31, 2016, compared with the same period last year primarily due to higher average debt outstanding. Income tax expense was $12.2 million for the three months ended Dec. 31, 2016, compared with $4.1 million for the same period in 2015.

Earnings before interest, income taxes, depreciation and amortization (EBITDA) for the fourth quarter of 2016 was $83.5 million compared with $32.5 million for the same period last year.

ECOreporter.de-Abonnement

Als Abonnent haben Sie Zugriff auf alle Exklusivinformationen von ECOreporter.de.

Ein umfassender Service für alle, denen nachhaltige Investments etwas wert sind!

Abonnent werden

ecoanlageberater - deutschlandweit

ecoanlageberater - deutschlandweit

Wo finde ich eine/n Fachberater/in für Nachhaltiges Investment?
Absolvent/inn/en des Fernlehrgangs ecoanlageberater ganz in Ihrer Nähe

weiterlesen

ECOreporter - Artikel kaufen

PayPal

Sie möchten einen bestimmten Bericht in ECOreporter.de lesen? Sie können auch einzelne Artikel kaufen - vom Aktientipp bis zum ausführlichen Testbericht.
Schon ab 2,40 Euro!

Sie wollen alles in ECOreporter.de lesen? Dann abonnieren Sie! Ab 99,60 Euro pro Jahr, das sind pro Monat nur 8,30 Euro.
Die umfangreichste deutsche Seite zu nachhaltigen, ethischen Geldanlagen steht Ihnen dann komplett offen!
Abonnent werden

Einloggen schließen
Geben Sie Ihren Benutzernamen und Ihr Passwort ein, um sich an der Website anzumelden:
Zum Seitenanfang Zum Seitenanfang