Verbio extends losses after it cuts FY profit outlook

Verbio SE

28/04/2023 09:32

** Shares in Verbio  VBKG.DE  slump around 11%, extending
Thursday's losses when the German biofuel firm cut its full-year
EBITDA outlook
    ** Verbio slipped 6% on Thursday after it cut EBITDA
guidance to EUR 240 mln from EUR 300 mln, citing current sales
pricing and raw material cost
        ** "In the biodiesel segment in particular, the
continuing decline in selling prices combined with comparatively
expensive vegetable oil purchases (...) is having a negative
impact on earnings," it said
  
    ** The company also reported preliminary 9-month EBITDA of
about EUR 214 mln
    ** Deutsche Bank says Q3 EBITDA of EUR 44 mln missed its
estimate by 18%, adding it was generally "driven by weaker
biodiesel spreads over rapeseed oil"
    ** The broker notes it foresaw weaker biodiesel spreads,
however, it was "caught off guard by the profit warning and the
disappointing prelims"
    ** Verbio is at the bottom of the Germany's small-cap index
 .SDAXI , hits over two-year lows

 (Reporting by Amir Orusov)
 ((Amir.orusov@thomsonreuters.com))