VERBIO Vereinigte BioEnergie AG

  • WKN: A0JL9W
  • ISIN: DE000A0JL9W6
  • Land: Deutschland

Nachricht vom 22.01.2020 | 18:07

VERBIO Vereinigte BioEnergie AG: VERBIO increases EBITDA earnings forecast for the financial year 2019/2020 from initially planned EUR 65 million to EUR 110 million.

VERBIO Vereinigte BioEnergie AG / Key word(s): Change in Forecast
VERBIO Vereinigte BioEnergie AG: VERBIO increases EBITDA earnings forecast for the financial year 2019/2020 from initially planned EUR 65 million to EUR 110 million.

22-Jan-2020 / 18:07 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


VERBIO increases EBITDA earnings forecast for the financial year 2019/2020 from initially planned EUR 65 million to EUR 110 million.

Zörbig/Leipzig, January 22, 2020 - Based on the current level of sales and raw material prices as well as the sales contracts already concluded, the Management Board expects to achieve an EBITDA of approximately EUR 110 million in the financial year 2019/2020 and to increase net cash by the end of the financial year to approximately EUR 40 million. In its most recent forecast the company had expected EBITDA of approximately EUR 65 million and a low balance of net debt by the end of the financial year 2019/2020.

The updated earnings guidance is necessary following the increase in biofuel demand across segments in the calendar year 2020 as well as the good order backlog till the end of the financial year 2019/2020.



Contact:
VERBIO Vereinigte BioEnergie AG
Ritterstraße 23 (Oelßner's Hof)
04109 Leipzig

Olaf Tröber
Investor Relations
Phone: +49(0)341/308530-251
Fax: +49(0)341/308530-298
Email: ir@verbio.de/pr@verbio.de

Information and Explanation of the Issuer to this News:

Information about VERBIO Vereinigte BioEnergie AG (VERBIO)

VERBIO is one of the leading independent producers and suppliers of biofuels, and is also the only large-scale producer of biodiesel, bioethanol and biomethane in Europe. The annual production capacity amounts to approximately 660,000 tonnes of biodiesel, 260,000 tonnes of bioethanol and 750 gigawatt hours of biomethane. The Company produces its highly efficient fuels using internally developed, energy efficient production processes and innovative technologies. VERBIO's biofuels achieve CO2 reductions of up to 90 percent compared to petrol or diesel. VERBIO delivers its products directly to European oil companies, oil trading companies, independent filling stations, freight forwarders, municipal utilities and vehicle fleets. In addition VERBIO markets high-quality pharmaceutical glycerine for the consumer goods and cosmetics industry (glycerine is produced as a by-product in the production of biodiesel) as well as animal feed and fertiliser, a by-product of bioethanol and biomethane production. Within the Group, VERBIO Vereinigte BioEnergie AG acts as a management holding company. The operative business is conducted by the subsidiaries VERBIO Diesel Bitterfeld GmbH, VERBIO Diesel Schwedt GmbH & Co. KG, VERBIO Diesel Canada Corporation, VERBIO Ethanol Schwedt GmbH & Co. KG, VERBIO Zörbig GmbH, VERBIO Agrar GmbH, VERBIO Logistik GmbH and VERBIO Polska Sp. z o.o. The VERBIO share (ISIN DE000A0JL9W6/WKN A0JL9W) has been listed in the prime standard segment of the Frankfurt Stock Exchange since October 2006.
 

Important notice
This publication contains certain forward-looking statements concerning the VERBIO group of companies. The forward-looking statements contained herein represent the judgment of VERBIO as of the date of this release and involve risks and uncertainties. Should actual conditions differ from the Company's assumptions, actual results and actions may differ from those anticipated. VERBIO does not intend to update any of these forward-looking statements as far as the wording of the relevant publication is concerned.


22-Jan-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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