Verbio Achieves Forecast Earnings and Highlights Key Milestones in FY 2023/24

Leipzig, September 26, 2024 – Verbio SE reported an EBITDA of EUR 121.6 million for FY 2023/24, meeting its forecast range. Despite market challenges, such as questionable biodiesel imports from Asia, the company showed resilience. Verbio's fourth-quarter saw significant earnings improvement, attributed to widening biodiesel spreads and better bioethanol spreads in Europe and North America.

Verbio's production reached new heights, exceeding one million tonnes for both biodiesel and bioethanol, alongside biomethane production of 1,100 GWh. CO2 savings increased to 4.4 million tonnes. Operating cash flows rose to EUR 116.8 million, although net financial debt also increased due to strategic project investments.

In the Biodiesel segment, Q4 revenues were EUR 196.8 million, and EBITDA improved to EUR 28.5 million. For Bioethanol/Biomethane, revenues stood at EUR 139.9 million with an EBITDA of EUR 9.9 million.

Strategic milestones included the stable production of ethanol in South Bend, USA, and the commencement of ethanol manufacturing from corn in Nevada, USA. In Germany, a new bio-based specialty chemical plant began construction, supported by a EUR 15 million state contribution.

The outlook for FY 2024/25 includes continued strategic focus and an unchanged proposed dividend of EUR 0.20 per share. EBITDA is expected to range between EUR 120 million and EUR 160 million, with net debt forecasted to potentially reach EUR 190 million.