Verbio rises as it expects better earnings in Q4

Verbio SE

14/05/2024 10:50

** Shares in Verbio  VBKG.DE  are up around 7% after the
German biofuel producer said it expected significant improvement
in Q4 earnings, after a drop in Q3
    ** Verbio reported a quarterly EBITDA down 83% y/y at 7.3
million euros ($7.87 million) and said full-year figure was
likely to come at lower end of 120-150 million euro range
    ** "Perhaps there is some relief because the outlook has
been confirmed and they are predicting a strong final quarter,"
a trader says
    ** "The margins for both biodiesel and bioethanol were not
good, obviously, but I think what's more important now is that
we think the worst should be behind us now," says Hauck
Aufhäuser Investment Banking analyst Cornelis Kirk 
    ** "We still think that the lower end of the guidance should
be achievable," Kirk says, adding that an improved situation at
the company's U.S. South Bend location will also positively
affect Q4
    ** Jefferies analysts say in a note they believe the 
challenging environment is mostly priced in after the stock lost
some 30% YTD

($1 = 0.9281 euros)

 (Reporting by Marleen Kaesebier)
 ((Marleen.kaesebier@reuters.com))