11.12.2018 | Ad hoc announcements
VERBIO raises earnings forecast for financial year 2018/2019 following unexpectedly high biodiesel margins.
Zörbig/Leipzig, December 11, 2018 – 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 80 million in the financial year 2018/2019 and to increase net cash by the end of the financial year to approximately EUR 90 million. In its most recent previous forecast the Company had expected EBITDA of approximately EUR 45 million and Net-Cash of EUR 73 million.
The updated earnings guidance is necessary following unexpectedly high margins in biodiesel in the months of October and November 2018, as well as probably in December 2018 and the currently good order backlog by the end of the financial year 2018/2019. The development of Net-Cash is mainly influenced by planned investments related to the acquisition of DuPont's cellulose ethanol plant in Nevada/Iowa, USA, in November 2018.
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 bio-methane 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, VERBIO Diesel Schwedt GmbH, 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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