Verbio rises as higher biofuel prices boost H1 revenues

Verbio SE

09/02/2023 09:38

** Shares in Verbio  VBKG.DE  are up around 5% as H1
revenues boosted by higher prices for biodiesel and bioethanol
look reassuring ahead of FY 2022/23
    ** The German bioenergy group reported revenues of 1.08
billion euros ($1.16 billion) for H1 2022/23, a year-on-year
increase of 33%
    ** "The increase in sales revenues compared to 1 HY 2021/22
is primarily due to the higher average sales prices of both
biodiesel and bioethanol," it said
    ** "Stock price improvement because of some hopes on better
conditions in H2/FY22-23," says Thomas Schiessle of EQUI.TS,
citing a "better price trend, better traffic in EU and higher
quotas" 
    ** Verbio also confirmed its full year EBITDA forecast of
300 million euros
    ** The company is currently at the top of the German
mid-caps index  .MDAXI 
($1 = 0.9301 euros)
 (Reporting by Anna Mackenzie)
 ((Anna.mackenzie@thomsonreuters.com))