World Grain - March 2009 - 16

newsreview
Bunge income rises despite fourth-quarter loss
WHITE PLAINS, NEW YORK, U.S. - Bunge Ltd.'s net income for
the fiscal year ended Dec. 31 rose 37% even though the company suffered a fourth-quarter loss, Bunge said Feb. 5. Fiscal-year net income
of $1.064 billion, equal to $7.73 per share on the common stock, compared with $778 million, or $5.95 per share, in the previous year. Fiscal-year sales rose 39% to $52.5 billion from $37.8 billion.
In the fourth quarter, however, Bunge suffered a loss of $210 million, which compared with fourth-quarter net income of $245 million
in the previous year. Fourth-quarter net sales declined 12% to $10.943
billion from $12.472 billion.
"In 2008, Bunge produced record results in one of the most volatile
years in recent memory," said Alberto Weiser, chairman and chief executive officer. "We earned over $1 billion in net income for the first
time and produced $2.5 billion of cash flow from operations."
Three of Bunge's four business divisions posted fiscal-year earnings
before income and tax (EBIT). Edible Oil Products, however, suffered

an $11 million loss, which compared with EBIT of $45 million in the
previous fiscal year. Edible Oil Products lost $47 million in the fourth
quarter, which compared with EBIT of $4 million in the previous fourth
quarter. Results declined in the fourth quarter primarily because of high
raw material costs in Europe.
Agribusiness fiscal-year EBIT rose 11% to $949 million from $856
million. Agribusiness suffered a fourth-quarter loss of $86 million,
which compared with EBIT of $330 million in the previous year's
fourth quarter. Lower results in soybean processing in the fourth quarter more than offset strong softseed processing results in Europe.
Fiscal-year EBIT for Milling Products rose 189% to $104 million
from $36 million. Milling Products posted fourth-quarter EBIT of $18
million, which compared with a fourth-quarter loss of $12 million in
the previous year. Fourth-quarter results in 2007 included a $13 million impairment charge related to the closing of a wheat milling facility
in Brazil.

VeraSun Energy seeks to sell substantial assets
SIOUX FALLS, SOUTH DAKOTA, U.S. - VeraSun Energy Corporation announced Feb. 8 that the company is seeking to sell substantially all of the assets of VeraSun Energy Corp. and 24 of its affiliates
through a court-approved sale process.
VeraSun Energy Corp. has a fleet of 16 production facilities in

eight states. The company currently has an annual potential production capacity of approximately 1.64 billion gallons of ethanol and 5
million tons of distillers grains. VeraSun also markets E85, a blend
of 85 percent ethanol and 15 percent gasoline for use in Flexible Fuel
Vehicles (FFVs), directly to fuel retailers under the brand VE85(R).

Deep-rooted
0 years of Progr

if 4

have led our products throug h the

ports of Russia & cities of Ukraine ,
across the sea to Asia & between the
borders of Canada,Mexico & the

�

.n 5

V I
1 I

Bulk Material Handling Equipment

9575 No 109th Ave
Omaha ,NE 68142

800-228-1483
402-330-1500

www .intersystems.net
Fax:402-330-3350

For more information, see Page 74.

March 2009 / World Grain / www.World-Grain.com

http://www.intersystems.net http://www.World-Grain.com

World Grain - March 2009

Table of Contents for the Digital Edition of World Grain - March 2009