LEIPZIG (dpa-AFX) - After a difficult summer, the biofuel producer Verbio is seeing a turnaround. Prices for biodiesel have risen and raw material costs have fallen, the company announced on Thursday when presenting its figures for the first quarter in Leipzig. Verbio also increased its production of bioethanol in the three months to the end of September, although sales prices fell here. Overall, the Group was unable to match the strong result from the same period last year. The management confirmed its forecast for the year.

In the first quarter of the financial year (to the end of September), turnover fell by 18 percent to EUR 488 million 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 EUR 22 million in the first quarter, more than 70 percent less than in the same period of the previous year.

An operating profit (EBITDA) of 200 to 250 million euros is expected for the full year 2023/24./lew/mis