12.01.2017 | Ad hoc announcements
VERBIO increases its earnings forecast for financial year 2016/2017
VERBIO increases its earnings forecast for financial year 2016/2017 following strong second quarter and based on high expected production facility utilization rates for the second half of the financial year 2016/2017.
Zörbig/Leipzig, January 12, 2017 – Based on the current level of sales and raw material prices and the planned plant utilisation, the Management Board expects to achieve an EBITDA of approximately EUR 90 million in the financial year 2016/2017 and to increase net cash by the end of the financial year to approximately EUR 120 million. In its most recent previous forecast the Company had expected EBITDA of approximately EUR 55 million and Net-Cash of EUR 88 million.
The updated earnings guidance is necessary following high overall capacity utilization together with unexpected strong operational margins in the second quarter of the first half 2016/2017 financial year, the recent increases in prices for bioethanol as well as the current good level of orders for the second half of the 2016/2017 financial year.
All the key figures will be published with the interim report for the first half-year 2016/2017 as scheduled on February 9, 2017.
Information about VERBIO Vereinigte BioEnergie AG (VERBIO)
VERBIO is one of the leading independent producers and providers of biofuels and is at the same time the only large industrial producer of biodiesel, bioethanol and biomethane in Europe. The production capacity is at a rounded 470,000 tons biodiesel, 260,000 tons bioethanol and 600 gigawatt hours biomethane per year. In the production of its highly efficient fuels, the company uses energy-saving production processes and innovative technologies of own development. The biofuels of VERBIO achieve CO2 reductions of up to 90 percent compared to petrol or diesel. VERBIO delivers its products directly to the European mineral oil conglomerates, mineral oil trading companies, independent gas stations, freight forwarders, municipal utilities and vehicle fleets. In addition, VERBIO markets high-quality pharma glycerine for the consumer goods and cosmetics industry (glycerine is gained as a by-product in biodiesel production). Within the group, VERBIO Vereinigte BioEnergie AG acts as Management Holding. The operative business is exercised by the subsidiaries, VERBIO Diesel Bitterfeld GmbH & Co. KG, VERBIO Diesel Schwedt GmbH & Co. KG, VERBIO Ethanol Schwedt GmbH & Co. KG, VERBIO Ethanol Zörbig GmbH & Co. KG and VERBIO Agrar GmbH. The VERBIO stock (ISIN DE000A0JL9W6 / WKN A0JL9W) has been listed at the Prime Standard of the Frankfurt stock exchange since October 2006.
This publication contains certain forward-looking statements concerning the VERBIO group of companies. The forward-looking statements contained herein represent the judgment of VERBIO as of the date of this release and involve risks and uncertainties. Should actual conditions differ from the Company's assumptions, actual results and actions may differ from those anticipated. VERBIO does not intend to update any of these forward-looking statements as far as the wording of the relevant publication is concerned.
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