Zörbig/Leipzig, September 18, 2020 – Based on the current level of sales and raw material prices, the planned plant utilization, but without taking into account potential profit and loss impacts with regard to the continued existence of the COVID-19-pandemic, the Management Board expects to achieve an EBITDA in the order of EUR 130 million in the financial year 2020/2021 (initial forecast for the 2019/2020 financial year was: EUR 65 million). The corresponding ad hoc announcement dated 20 September 2019 can be viewed on the VERBIO AG website.
The Group intends to further invest in capacity expansion and internationalisation in the current financial year. This will be partially financed from the Group’s own funds accumulated in prior periods as well as current operating cash flow. At the end of the 2020/2021 financial year, the Management Board expects net financial assets in the order of EUR 50 million.
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 900 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 Pinnow 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.