Press Room

GPRE - Announces Second Quarter 2009 Financial Results

August 10, 2009 (MARKET WIRE) OMAHA, NE - Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) announced today its financial results for the quarter ended June 30, 2009. Green Plains reported revenues of $284.7 million, a 29% increase over the first quarter of 2009, and net income of $0.6 million, or $0.03 per share, for the quarter.

“Our strategy of diversification within the ethanol value chain has worked well and allowed Green Plains to report a profitable second quarter,” said Todd Becker, President and Chief Executive Officer. “We had positive operating income from all of our business segments in the second quarter, led by a strong contribution from Agribusiness. We experienced solid improvement in ethanol margins during May and June and believe the Ethanol Production segment will continue to show improving margins during the second half of 2009.”

“As expected, we reported strong results from the Agribusiness segment during the second quarter. This was a result of excellent margins from fertilizer sales and agronomy services and strong revenues from grain handling. With the excellent crop conditions in Iowa, we are looking forward to the potential contribution the fall harvest could have on our earnings in the fourth quarter,” stated Becker.

“As industry conditions have improved during the last 90 days, our risk managers have moved to lock in forward margins. At the close of the second quarter, we had more than 70 million gallons of forward margins locked. This entailed buying the corn and natural gas, and selling the ethanol and distillers grains. We believe our ongoing margin management activities, along with the addition of the two plants in Nebraska, will provide us with the opportunity to generate positive results for the rest of the year,” commented Becker.

Earnings before interest, income taxes, depreciation and amortization (“EBITDA”) was $11.2 million for the quarter ended June 30, 2009. Green Plains had $55.3 million in cash and equivalents and $13.2 million available under committed loan agreements at June 30, 2009.

“Operating cash flows were sufficient to meet our scheduled debt service, fund our capital expenditures and increase our cash position from the end of the first quarter,” continued Becker. “We ended the quarter with a strong cash position, a solid and diversified operating platform and a business poised for continued growth. We remain focused on creating long-term shareholder value.”

For the six months ended June 30, 2009, revenues were $505.7 million, with a net loss of $8.7 million or $0.35 per share. EBITDA for the six months ended June 30, 2009 was $10.6 million. For full release click here.

Company Contact:
Jim Stark, Vice President - Investor Relations
Green Plains Renewable Energy, Inc.
(402) 884-8700
www.gpreinc.com

Investor Contact:
John Baldissera
BPC Financial Marketing
(800) 368-1217

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended. Such statements are identified by the use of words such as "anticipate," "estimate," "expect," "will," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Such statements are based on management's current expectations and are subject to various factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such forward-looking statements. Green Plains may experience significant fluctuations in future operating results due to a number of economic conditions, including, but not limited to, competition in the ethanol industry, risks associated with commodity market risks, financial market risks, counter-party risks, risks associated with changes to federal policy and/or regulation, and other risks detailed in the Company's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-KT for the period ended December 31, 2008 and in the Company's subsequent filings with the SEC. Green Plains assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The cautionary statements in this report expressly qualify all of our forward-looking statements. In addition, the Company is not obligated, and does not intend, to update any of its forward-looking statements at any time unless an update is required by applicable securities laws.

Source: Green Plains Renewable Energy, Inc. - www.gpreinc.com
Contact: Green Plains Renewable Energy, Inc. - 402-884-8700