Germany's Verbio says biodiesel output falls

HAMBURG, Nov 12 (Reuters) - German biofuels company Verbio (VBKG.DE), one of Europe's largest green fuel producers, said on Thursday its biodiesel output fell in the first nine months of 2009 and reduced bioethanol prices caused losses.

Verbio's biodiesel production in the first nine months of this year fell to 288,000 tonnes from 300,000 tonnes in the same year ago period, it said.

Germany's increased taxes on biodiesel had cut sales at petrol stations, the company said. But higher demand for biodiesel blending at oil refineries partially compensated for the reduced petrol station demand.

"There is still heavy price pressure in this sector which is having an impact on profit margins," the company said in a statement on its quarterly results.

Increased taxes on green fuels were seen as the reason for falling biodiesel sales by Germany's biodiesel industry, Europe's largest. Germany's newly-elected government says it will review biofuel taxes. [ID:nLQ144800 ]

Verbio's bioethanol output has risen this year but the company was still working well below capacity, it said.

In the first nine months of 2009 it produced 130,718 tonnes of bioethanol, up from 88,390 tonnes in the same 2008 period. But Verbio said it was still working at only 65 percent of bioethanol production capacity.

"Compared with the corresponding period last year the price of ethanol decreased in the first three quarters 2009 of about 17 percent on average," Verbio said.

The Verbio group posted a nine-month loss of 14.9 million euros against after tax profit of 9.2 million in the same time in 2008. Turnover fell to 380.0 million euros from 490.6 million euros.