Biofuel producer Verbio lowers profit expectations

The biofuel producer Verbio has lowered its expectations for the current financial year. Prices for ethanol and greenhouse gas reduction remain under pressure, the Leipzig-based company announced on Monday. The management now expects earnings before interest, taxes, depreciation and amortization of EUR 120 million to EUR 150 million in the 2023/2024 financial year (until the end of June). Previously, expectations had been between 200 million and 250 million euros. Verbio will present further details with its figures for the second financial quarter on February 8.