Verbio Se · XETR:VBK
Verbio — H1/Q2 2024/25 Earnings Presentation
19 slides from Verbio's earnings presentation, Feb 12, 2025
Slide 1: H1/Q2 2024/25 Earnings Call
H1/Q2 2024/25 Claus Sauter (CEO), Olaf Tröber (CFO) Earnings Call 12.02.2025
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking information, which is based on assumptions and estimates of the company management of Verbio SE. Even though company management believes that these assumptions and estimates are correct, the actual future development and actual future results can
Slide 3: Key figures in H1 2024/25
Key figures in H1 2024/25 Production in kt* and GWh EBITDA in € m Net debt in € m Equity ratio Biodiesel in kt Bioethanol in kt RNG in GWh 74.9 559.7 519.1 97.0 67.4% 64.7% 321.8 326.1 248.9 274.3 14.3 32.9 H1 23/24 H1 24/25 H1 23/24 H1 24/25 30.06.2024 31.12.2024 30.06.2024 31.12.2024 * thousand to
Slide 4: Overview Q2 2024/25: Strong EBITDA recovery qoq
Overview Q2 2024/25: Strong EBITDA recovery qoq Group EBITDA by segments Q2 23/24 vs. Q2 24/25 vs. Q1 24/25in € m Group Biodiesel Bioethanol/Biomethane Other 50 40 30 26.1 20.8 20 36.6 29.3 10 15.4 -6.6 0 -5.2 -10 -15.3 -21.5 -20 Q2 2023/24 Q2 2024/25 Q1 2024/25 -30 Q2 23/24 Q2 23/24 Q2 24/25 Q2 24/
Slide 5: Biodiesel segment
Biodiesel segment Sales in € m EBITDA in € m 400 Production in kt 60 EBITDA margin 20.0% 15.1% 15.0% 300 250.1 11.7% 242.5 40 36.6 10.0% 29.3 200 160.6 164.2 5.0% 20 0.0% 100 -5.0% 0 0 -10.0% Q2 23/24 Q2 24/25 Q2 23/24 Q2 24/25 Revenues remained largely stable at comparable production and sales volu
Slide 6: Update on Welland
Update on Welland US Producer advantage €/ton feedstock vs. Welland • BTC returned c. € 280/ton to US producer 200 • Canola oil excluded from PTC, 150 disadvantaging US producers 92 100 • Biodiesel production cost advantage of 35 EUR/ton over US producers using soybean 50 oil 0 • Potential tariffs s
Slide 7: Biodiesel market development (Europe)
Biodiesel market development (Europe) Market spreads in €/t Biodiesel and rapeseed oil in €/t of biodiesel in 2024/25 400 2023/24 1,300 Biodiesel 2024/25 1,200 Rapeseed oil 300 1,100 200 1,000 100 900 0 800 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Spread = Biodiesel pr
Slide 8: Bioethanol/Biomethane segment
Bioethanol/Biomethane segment Sales in € m EBITDA in € m Bioethanol Production in kt 400 RNG Production in GWh 60.0 275.9 288.5 300 40.0 200 166.5 20.0 146.9 134.3 126.2 100 0.0 -5.2 0 -20.0 -15.3 Q2 23/24 Q2 24/25 Q2 23/24 Q2 24/25 Revenue declined yoy despite higher production and sales volumes du
Slide 9: Bioethanol market development (Europe)
Bioethanol market development (Europe) Market spreads in €/t Bioethanol and wheat in €/t of bioethanol in 2024/25 300 2023/24 1,000 Bioethanol 2024/25 Wheat 900 200 800 100 700 0 600 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Spread = Bioethanol price ./. Wheat price per
Slide 10: Bioethanol market development (USA)
Bioethanol market development (USA) Market spreads in €/t Bioethanol and wheat in €/t of bioethanol in 2024/25 300 2023/24 600 2024/25 200 500 Bioethanol Corn 100 400 0 300 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Spread = Bioethanol price ./. Corn price per tonne of b
Slide 11: Amendment to the 38th Ordinance stabilized GHG quota prices
Amendment to the 38th Ordinance stabilized GHG quota prices… Development of the GHG quota price from January 2023 to February 2025 in €/t CO₂ equivalent 150 150 500 120 120 Decision Draft 400 90 90 2024 300 2025 60 60 Aug 24 Au Sept 24 Se Oct Ok 24 Nov N 24 Dec De 24 Jan Ja 25 Feb Fe 25 200 g. p. t.
Slide 12: Recovery slower than expected: New guidance hit by market and technical issues
…but recovery slower than expected: New guidance hit by market and technical issues at Nevada plant Emissionsreduktion bei Erdgasfahrzeugen 2023/2024 Old: 2024/2025E New: 2024/2025E im Vergleich zu Diesel Biodiesel Capacity 710,000 t 710,000 t 710,000 t Capacity utilisation 89.8% → yoy → yoy Bioetha
Slide 13: Nevada: Long-term value creation remains intact
Nevada: Long-term value creation remains intact • EBITDA impact is a timing shift, not a structural issue: Ramp-up delay in Nevada (USA) postpones expected positive EBITDA contribution • Root causes: Technical quality issues in existing equipment • Technology in Nevada is proven and reliable: Focus
Slide 14: Resilient Net Debt guidance
Resilient Net Debt guidance Bridging Net Debt guidance: from previous to updated outlook in € m • Phased investments with a strong focus on value creation • Further liquidity measures include management of financial assets ∆Taxes ∆EBITDA ∆Capex • Strategic stock buildup as of December 31 < 190 < 190
Slide 15: Focusing on Free Cash Flow growth (1)
Focusing on Free Cash Flow growth (1) Capex peak reached: Transitioning to more balanced investment Investments in PPE in € m • Focus on plant modernization investments, cost out investments and strategic growth projects: 300 • Ethenolysis plant buildout continues at 251.2 full speed 250 • Transform
Slide 16: Focusing on Free Cash Flow growth (2)
Focusing on Free Cash Flow growth (2) Accelerating GHG quota recovery imminent Mandated GHG quota demand development in million t CO2-eq • With the 2024 quota year closing in March, focus is expected to shift to 2025 12.1% • Increasing demand due to increase in GHG 35 Other UER 13.0% Quota Mandate t
Slide 17: Indonesia takes action on fraud indication; backs German GHG market
Indonesia takes action on fraud indication; backs German GHG market PALMOILMAGAZINE, JAKARTA – Exports of Palm Oil Mill Effluent (POME) and High Acid Palm Oil Residue (HAPOR) have shown a significant upward trend, exceeding Crude Palm Oil (CPO) export volumes. Between January and October 2024, POME
Slide 18: Verbio SE www.verbio.de
Verbio SE Ritterstraße 23 T +49 341 308530-0 04109 Leipzig F +49 341 308530-999 Germany info@verbio.de www.verbio.de
Slide 19: Point of contact
Point of contact Ulrike Kurze Alina Köhler Marketing & PR Investor Relations Ritterstraße 23 (Oelßner‘sHof) Ritterstraße 23 (Oelßner‘sHof) 04109 Leipzig 04109 Leipzig E-Mail: pr@verbio.de E-Mail: ir@verbio.de 19