VERBIO Vereinigte BioEnergie AG: VERBIO forecasts EBITDA of EUR 65 million for the 2019/2020 financial year.
VERBIO Vereinigte BioEnergie AG, DE000A0JL9W6
VERBIO forecasts EBITDA of EUR 65 million for the 2019/2020 financial year. Zörbig/Leipzig, September 20, 2019 - Based on the current level of sales and raw material prices, the planned plant utilisation and taking into account current investments, the Management Board expects to achieve an EBITDA of approximately EUR 65 million in the financial year 2019/2020 (original forecast for the 2018/2019 financial year: EUR 45 million).
The Group intends to further invest in capacity expansion and internationalisation in the current financial year. This will be financed from the Group's own funds accumulated in prior periods as well as current operating cash flow. As a result, the Management Board expects a low balance of net debt at 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: firstname.lastname@example.orgemail@example.com
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 Ethanol Zörbig GmbH & Co. KG, 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.
20-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: VERBIO Vereinigte BioEnergie AG Ritterstraße 23 (Oelßners Hof) 04109 Leipzig
Germany Phone: +49 (0)341 308530-0 Fax: +49 (0)341 308530-998 E-mail: firstname.lastname@example.org Internet: www.verbio.de ISIN: DE000A0JL9W6 WKN: A0JL9W Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 877385 End of Announcement DGAP News Service
877385 20-Sep-2019 CET/CEST