Verbio tracks worst day in over a year as FY profit halves, uncertainty to persist

Verbio SE

26/09/2023 08:11

** Shares of Verbio Vereinigte Bioenergie  VBKG.DE  slump
11% after the German biofuel maker's annual EBITDA more than
halved and it forecast current-year EBITDA with midpoint below
last year's level
    ** The company sees EBITDA of 200-250 million euros
($211.5-264.4 million) in FY 2023/24, as it expects continued
uncertainty due to biodiesel imports from Asia
    ** It posts EBITDA of 240.3 million euros ($254 million) for
FY 2022/23 ended July, down 52% from a tough year-ago comparison
amid volatile raw material prices
    ** This was in line with its outlook, last cut in April due
to declining biodiesel prices
    ** The stock hits the bottom of the German small-cap index
 .SDAXI  and is on track for worst day since June 2022

($1 = 0.9456 euros)

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))