Biofuel producer Verbio sees turnaround after difficult summer

The biofuel producer Verbio sees a trend reversal underway after a difficult summer. 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 result from the same period last year.

In the first quarter of the financial year (to the end of September), turnover fell by 18 percent to 488 million euros 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 of the previous year.