Verbio adjusts its forecast for the full financial year 2023/24

Verbio adjusts its forecast for the full financial year 2023/24

Leipzig, January 15, 2024 – Verbio amends its forecast for the full financial year 2023/24 and now expects an EBITDA of EUR 120 million to EUR 150 million (previously: EUR 200 million to EUR 250 million; 2022/23: EUR 240.3 million). Net financial debt by the end of the financial year is expected between EUR 145 million and EUR 175 million (previously: EUR 110 million to EUR 150 million; 2022/23: Net Cash EUR 57.4 million). The Management Board remains focused on the successful completion of the ongoing investment projects.

The main reason for the forecast adjustment is the continued pressure on ethanol and GHG quota prices, contrary to expectations, especially due to massive biodiesel imports from Asia which were likely to have been falsely labelled. After thorough examination, it can no longer be assumed that prices will recover sufficiently in the short term to achieve the previously expected result.

Detailed information on business developments in the first six months of the 2023/24 financial year is provided in the half year statement for the period ended December 31, 2023, which can be viewed from February 8, 2024 on Verbio’s website www.verbio.de.

About VERBIO

At Verbio we make more out of biomass. In our biorefineries we convert raw materials and waste products from local agriculture into climate-friendly fuels, green energy and renewable products for chemicals and agriculture. In addition, we create high-value components from sustainably-generated biomass for the animal feed and food industries. We employ more than 1,000 people at our locations in Germany, Poland, Hungary, India, the USA and Canada. Our motto “Pioneering green solutions” summarises what drives our international team; with innovative technologies and green solutions, we are shaping the social and industrial transformation toward climate neutrality and ecological production. We contribute to preserving natural resources and to leaving the earth in a habitable state for the generations that will follow us. In doing so we combine global growth with commercial success, social responsibility and supply security. The Verbio share (ISIN DE000A0JL9W6/WKN A0JL9W) has been listed in the prime standard segment of the Frankfurt Stock Exchange since October 2006. Our headquarters are in Zörbig, Germany.

Important notice

This publication contains forward-looking statements that are based on assumptions and estimates made by the management of Verbio SE. 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.