Zörbig/Leipzig, September 4, 2020 – VERBIO Vereinigte BioEnergie AG is expected to have generated EBITDA of EUR 122 million in the 2019/2020 financial year (previous year: EUR 95.1 million). Net cash as of 30.06.2020 is expected to be EUR 56 million (previous year: EUR 64.2 million).
Due to the measures taken during the COVID-19-pandemic, such as the production of disinfectants, and the increase in biofuel margins at the end of the financial year, the financial year's result is expected to be significantly higher than our own forecast and market expectations.
Most recently, the company expected to achieve EBITDA in the order of EUR 110 million in the 2019/2020 financial year and to increase net cash to the order of EUR 40 million by the end of the financial year. The corresponding ad hoc announcement of 22 January 2020 can be viewed on the VERBIO AG website.
Detailed information on the business development for the financial year 2019/2020 can be found in the Annual Report 2019/2020, which will be available on 23 September 2020 at www.verbio.de.
Information about VERBIO Vereinigte BioEnergie AG (VERBIO)
VERBIO is one of the leading independent producers and suppliers of biofuels, and is also the only large-scale producer of biodiesel, bioethanol and biomethane in Europe. The annual production capacity amounts to approximately 660,000 tonnes of biodiesel, 260,000 tonnes of bioethanol and 750 gigawatt hours of biomethane. The Company produces its highly efficient fuels using internally developed, energy efficient production processes and innovative technologies. VERBIO’s biofuels achieve CO2 reductions of up to 90 percent compared to petrol or diesel. VERBIO delivers its products directly to European oil companies, oil trading companies, independent filling stations, freight forwarders, municipal utilities and vehicle fleets. In addition VERBIO markets high-quality pharmaceutical glycerine for the consumer goods and cosmetics industry (glycerine is produced as a by-product in the production of biodiesel) as well as animal feed and fertiliser, a by-product of bioethanol and biomethane production. Within the Group, VERBIO Vereinigte BioEnergie AG acts as a management holding company. The operative business is conducted by the subsidiaries VERBIO Bitterfeld GmbH, VERBIO Schwedt GmbH, VERBIO Zörbig GmbH, VERBIO Agrar GmbH, VERBIO Logistik GmbH, VERBIO Diesel Canada Corporation and VERBIO Polska Sp. z o.o. The VERBIO share (ISIN DE000A0JL9W6/WKN A0JL9W) has been listed in the prime standard segment 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.