Enviva increases pellet turnover by 11.5% to 583,000t

Enviva increases pellet turnover by 11.5% to 583,000t

In the first three months of this year Enviva Partners, which belongs to US pellet manufacturer Enviva Holdings, was able to increase the volume of its pellet sales by 11.5% vis à vis the preceding year to 583,000t. At US$114.3m the pro-forma turnover reflected an increase of US$10m or 9% on the preceding year’s figure. Of this sum US$113.6m had been generated in connection with pellet sales. Operating profit thus improved significantly by 65% to US$8.3m. At a figure of US$5.6m, a positive net result was also achieved in the first quarter, after being confronted by a loss of -US$4.8m in the comparative quarter last year.

For the entire period of 2015, Enviva expects to achieve an EBIDTA within a range of US$61m – 65m, accordingly the net result is expected to be between US$17m – 21m. Enviva Partners furthermore assumes that, towards the end of the year, the company will take over the pellet plant in Southampton, Virginia, which is currently still operated by Enviva LP.

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