DGAP-News: VERBIO Vereinigte BioEnergie AG: Results for the first half of the financial year 2019/2020 above expectations.
DGAP-News: VERBIO Vereinigte BioEnergie AG
/ Key word(s): Half Year Results
VERBIO AG: Results for the first half of the financial year 2019/2020 above expectations. Outlook for the financial year 2019/2020 increased significantly.
Leipzig, February 6, 2020 - VERBIO AG reports slightly lower EBITDA for the first six months of the financial year 2019/2020 compared to the same period in the previous year, with the previous year characterised by one-off effects. With increased production and sales volumes over the first half-year 2019/2020 as a whole, the Group's revenues increased by 15 percent to EUR 436.6 million (1 HY 2018/2019: EUR 380.2 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) in the first six months of the financial year 2019/2020 amounted to EUR 53.9 million, slightly lower than the EBITDA in the comparative period in the previous year (1 HY 2018/2019: EUR 57.3 million). The Group result before tax (EBT) totalled EUR 39.2 million (1 HY 2018/2019: EUR 46.5 million), and the net result for the period was EUR 25.3 million (1 HY 2018/2019: EUR 33.0 million). Based on the result for the period, earnings per share (basic and diluted) were EUR 0.40 (1 HY 2018/2019: EUR 0.53). Development of the Biodiesel and Bioethanol segments Cash investments in property, plant and equipment totalling EUR 42.9 million were made in the first half of the financial year 2019/2020 (1 HY 2018/2019: EUR 33.0 million). The most significant proportion of the investments made were in connection with the ongoing projects in North America and India. Earnings forecast for the financial year raised VERBIO issued an amended earnings forecast for the financial year 2019/2020 in an ad hoc announcement made on January 22, 2020. EBITDA is expected to be around EUR 110 million, and the net cash balance at the end of the financial year to be around EUR 40 million. Previously the Group had expected an EBITDA of around EUR 65 million and a low level of net debt at the end of the financial year 2019/2020. The increase in the forecast is driven by the increased demand for biofuels in the calendar year 2020 across all segments, and the good order levels for the period through to the end of the financial year 2019/2020. Detailed information on business developments in the first six months of the 2019/2020 financial year are provided in the half-yearly interim statement for the period ended December 31, 2019 (Q2 2019/2020) issued on February 6, 2020, which can be viewed from 8.30 a.m. on VERBIO's website at www.verbio.de. Information about VERBIO Vereinigte BioEnergie AG (VERBIO) Important notice Contact: VERBIO Vereinigte BioEnergie AG Ritterstraße 23 (Oelßner's Hof) 04109 Leipzig Olaf Tröber (IR) Ulrike Kurze (PR) Phone: +49(0)341/308530-251 Fax: +49(0)341/308530-998 Email: [email protected]/[email protected]
06.02.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | 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: | [email protected] |
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: | 969113 |
End of News | DGAP News Service |
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969113 06.02.2020
VERBIO Vereinigte BioEnergie AG Stock
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