VERBIO adjusts its forecast for the full financial year 2022/2023 and announces its preliminary EBITDA for the first nine months of the financial year

Zörbig/Leipzig, April 27, 2023 – On the basis of current sales and raw material price levels the original EBITDA expectations for the full financial year 2022/2023 of approximately EUR 300 million are too ambitious. The Management Board is amending the forecast and now expects an EBITDA of approximately EUR 240 million. In the biodiesel segment in particular, the continuing decline in selling prices combined with comparatively expensive vegetable oil purchases due to the time lag between purchases and sales is having a negative impact on earnings.

Due to amended expectations concerning investments and working capital, the Management Board plans net financial assets by the end of the financial year of around EUR 80 million. Prior to this the Company had assumed net financial assets in the order of EUR 30 million at the end of the 2022/2023 financial year.

Based on preliminary calculations Verbio has generated an EBITDA of approximately EUR 214 million in the first nine months of the current financial year 2022/2023.

Detailed information on business developments in the first nine months of the 2022/2023 financial year is provided in the quarterly statement for the period ended March 31, 2023, which will be published on May 11, 2023.

Information about VERBIO Vereinigte BioEnergie AG (VERBIO)

VERBIO AG is one of the leading independent bioenergy manufacturers, and is also the only large-scale producer of biodiesel, bioethanol and biomethane in Europe. The Group has approximately 1,000 employees at its locations in Saxony, Saxony-Anhalt and Brandenburg as well as at its foreign subsidiaries in India, the USA, Canada, Poland and Hungary. VERBIO concentrates on the use of internally developed innovative technologies and efficient energy-saving production processes. VERBIO’s biofuels achieve CO₂ savings of up to 90 percent compared to petrol or diesel. The Group’s annual production capacity amounts to approximately 660,000 tonnes of biodiesel, 300,000 tonnes of bioethanol and 1,300 gigawatt hours of biomethane. In addition, VERBIO manufactures biofertiliser and animal feed for agricultural use as well as high-value raw materials for the pharmaceutical, cosmetic and foodstuff industries. With its innovative processes and highly efficient production plants, VERBIO is a technology leader in the biofuels market. The VERBIO share (ISIN DE000A0JL9W6/WKN A0JL9W) has been listed in the prime standard segment of the Frankfurt Stock Exchange since October 2006.
 

Important notice

This publication contains forward-looking statements that are based on assumptions and estimates made by the management of VERBIO Vereinigte BioEnergie AG. Although the Company’s management is of the opinion that these assumptions and estimations are realistic, actual future developments and actual future results may differ significantly from these assumptions and estimates due to a variety of factors. For example, these factors can include changes to the overall economic climate, changes to the legal and regulatory framework in Germany and the EU, and changes in the industry. VERBIO can give no guarantee and accepts no liability as to whether future development and the results actually achieved in future will match the assumptions and estimates made in this publication.

1619425  27-Apr-2023 CET/CEST