Verbio shares jump as high biofuel prices drive FY results

Verbio SE

27/09/2022 09:03

** Shares in Verbio Vereinigte Bioenergie  VBKG.DE  rise
9.4%, on track for their best day since September 2021, after
high biofuel prices boosted FY 2021/2022 results  urn:newsml:reuters.com:*:nEQ4wLGXca
    ** The German bioenergy group's FY EBITDA rises by 203% to
EUR 503.3 mln ($485.4 mln) while sales revenue increases 77% to
EUR 1.8 bln
    ** "The increase in sales revenues is primarily due to the
higher sales prices of both biodiesel and bioethanol over the
course of the financial year," the company says
    ** The Zörbig-based company expects to achieve an EBITDA of
around EUR 300 mln in FY 2022/2023, excluding additional
negative effects from the Ukraine war
    ** The stock is at the top of Germany's small-cap index
 .SDAXI 
($1 = 1.0369 euros)
 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))