Verbio sees turnaround in biodiesel: weaker result
After a difficult summer, the biofuel producer Verbio sees a turnaround underway. Prices for biodiesel have risen and raw material costs have fallen, the company announced on Thursday at the presentation of its quarterly figures in Leipzig. Verbio also increased its production of bioethanol in the first quarter, although sales prices fell here. Overall, the Group was unable to match the strong results of the same period last year.
In the first quarter of the financial year (to the end of September), turnover fell by 18 percent to EUR 488 million compared to the same period last year. At just under 49 million euros, earnings before interest, taxes, depreciation and amortization (EBITDA) were even 60 percent lower than a year earlier. Compared to the final quarter of the previous financial year, turnover and, above all, the operating result increased significantly. At the bottom line, the Leipzig-based company earned just under 22 million euros in the first quarter, more than 70 percent less than in the same period last year.
Despite the 18% decrease in quarterly turnover, Verbio's biodiesel segment shows signs of improvement with rising prices and reduced raw material costs. The company's quarterly figures reveal a 60% decrease in EBITDA compared to the previous year, indicating a challenging quarter for energy production.
Source: www.dpa.com
