Pannónia Ethanol’s Dunaföldvár unit makes HUF 4bln profit

Telco

The Dunaföldvár plant of Pannónia Ethanol, the Hungarian unit of Irish-owned Ethanol Europe Renewables, had an after-tax profit of nearly HUF 4 bln following its first full year of operation in 2013, Pannónia Ethanol CEO Zoltán Reng announced yesterday.

Pannónia Ethanol produces fuel ethanol and animal feed. According to the company, their facility in Dunaföldvár “currently utilizes roughly 575,000 tons of corn annually , producing up to 240 million litres of ethanol.” The company boasts that “Pannónia Ethanol produces some of the most environmentally friendly ethanol in Europe, with green house gas (GHG) savings well in excess of those required under the EU’s Renewable Energy Directive.”

Pannónia Ethanol had a total revenue of HUD 51.7 bln last year, with approximately HUF 50 bln stemming from exports, primarily to western and east-central Europe.

Reng added that, the Dunaföldvár unit paid HUF 1.5 bln in dividends on last year's profit to its parent company, Luxembourg-based Ethanol Europe Renewables. Pannónia Ethanol launched production at its plant in Dunaföldvár in April 2012.

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