VERBIO Vereinigte BioEnergie AG / Key word(s): Change in Forecast
22.06.2011 18:05
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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* Sales forecast increased
* EBITDA and EBIT forecasts lowered
Zörbig/Leipzig, 22 June 2011 - Due to weak sales of bioethanol, VERBIO
Vereinigte BioEnergie AG is reducing its results guidance for financial
year 2011. The sales contribution will increase to between EUR 650 million
and EUR 750 million.
The company expects sales in the EUR 650 million to EUR 750 million range,
to generate EBITDA of between EUR 25 million and EUR 30 million and EBIT of
between EUR 6 million and EUR 12 million in financial year 2011. At the
beginning of the financial year, the company had set a target of between
EUR 35 million and EUR 40 million for EBITDA and EBIT of between EUR 15
million and EUR 20 million. One of the assumptions was that bioethanol
sales would remain at least at the level of the previous year.
Due to the sluggish implementation of E10 fuel the demand of the petroleum
companies in the second quarter 2011 was significantly less than originally
planned, resulting in a bioethanol capacity utilisation of nearly 50 per
cent. In the meantime situation about E10 has defused and the demand for
bioethanol is increasing steadily. Insofar the company assumes full use of
bioethanol production capacities and profitable margins in the third and
fourth quarter 2011.
In addition, the ramp-up of the biogas plant took more time than originally
planned so that in total less biogas was produced. Meanwhile the production
is stable. With regards to current political developments, the demand for
biogas is significantly higher than originally expected.
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Information and Explaination of the Issuer to this News:
About VERBIO Vereinigte BioEnergie AG (VERBIO)
VERBIO is one of the leading independent producers and suppliers of
biofuels and also the only industrial-scale producer of biodiesel,
bioethanol and biogas in Europe. Nominal capacity currently amounts to
around 450,000 tons of biodiesel, 300,000 tons of bioethanol and 500
gigawatt hours of biogas per year. In the production of its highly
efficient fuels, the company uses its own energy-saving production
processes and innovative technologies. The biofuels produced by VERBIO
achieve CO2 reductions of up to 90% compared with petrol and diesel. VERBIO
supplies its products directly to European mineral oil corporations,
mineral oil traders, independent petrol stations, haulage companies, public
utilities and vehicle fleets. VERBIO AG also markets high-quality pharma-
glycerine for the consumer goods and cosmetic industries (glycerine is a
by-product of biodiesel production). VERBIO Vereinigte BioEnergie AG acts
as the management holding company within the Group. The Group's operating
business is run by its subsidiaries VERBIO Diesel Bitterfeld GmbH & Co. KG,
VERBIO Diesel Schwedt GmbH & Co. KG, VERBIO Ethanol Schwedt GmbH & Co. KG,
VERBIO Ethanol Zörbig GmbH & Co. KG and Märka GmbH. VERBIO shares (ISIN
DE000A0JL9W6 / WKN A0JL9W) have been listed on the Prime Standard of the
Frankfurt Stock Exchange since October 2006.
Important Note
This ad hoc announcement contains forward-looking statements, which are
based on assumptions and estimates of the company management of VERBIO
Vereinigte BioEnergie AG. Even though the company management believes that
these assumptions and estimates are correct, the actual future development
and actual future results can deviate substantially from these assumptions
and estimates due to many factors. For example, these factors can include
alteration of the economic situation, legal and regulatory constraints in
Germany and the EU, and changes in the industry. VERBIO assumes no
liability and provides no warranty that future developments and actual
future results will agree with the assumptions and estimates expressed in
this ad hoc announcement.
VERBIO Vereinigte BioEnergie AG
Augustusplatz 9
04109 Leipzig
Anna-Maria Schneider
Investor Relations
Phone: +49(0)341/30853094
Fax: +49(0)341/30853098
Email: ir@verbio.de
Frank Strümpfel
Public Relations
Phone: +49(0)341/30853063
Fax: +49(0)341/30853099
Email: pr@verbio.de
22.06.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: VERBIO Vereinigte BioEnergie AG
Augustusplatz 9
04109 Leipzig
Deutschland
Phone: +49 (0)341 30 85 30 90
Fax: +49 (0)341 30 85 30 98
E-mail: ir@verbio.de
Internet: www.verbio.de
ISIN: DE000A0JL9W6
WKN: A0JL9W
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: VERBIO Vereinigte BioEnergie AG: adjusts forecast for financial year 2011
| Source: EQS Group AG