Verbio Se · XETR:VBK
Verbio — VERBIO Vereinigte BioEnergie — Q1 2022/2023 Earnings Presentation
16 slides from Verbio's earnings presentation, Nov 10, 2022
Slide 1: VERBIO AG Q1 2022/2023
VERBIO AG Q1 2022/2023 Olaf Tröber (CFO), Alina Köhler (IR) November 10, 2022 © VERBIO IR, November 10, 2022
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking information, which is based on assumptions and estimates of the company management of VERBIO Vereinigte BioEnergie AG. Even though company management believes that these assumptions and estimates are correct, the actual future development and act
Slide 3: Agenda
Agenda 1. Group Financials: Q1 22/23 2. Segment Financials: Q1 22/23 3. Update & Outlook © VERBIO IR, November 10, 2022 3
Slide 4: Group Financials: Q1 22/23 - Strong start to the year
Group Financials: Q1 22/23 Key figures in Q1 22/23: Strong start to the year Production EBITDA Net cash Equity ratio in kt* and GWh in € m in € m in % Biodiesel in kt Bioethanol in kt RNG in GWh +202% 121.4 -8% -0.5pp 261.0 72.5% 72.0% 199.9 284.1 150.0 261.9 145.1 40.2 59.1 71.4 Q1 21/22 Q1 22/23 Q
Slide 5: Cash Flow Bridge 30.09.22 vs 30.06.22
Group Financials: Q1 22/23 Cash Flow Bridge 30.09.22 vs 30.06.22 in €m Q1 22/23 Cash Flow reflects investments in short-term assets and capex Includes: Includes investments in: ▪ € 52m increase in cash on ▪ Nevada biorefinery roll-out segregated accounts ▪ Expansion of advanced related to gas swaps
Slide 6: Segment Overview: Highest Growth Momentum in Biodiesel
Group Financials: Q1 22/23 Segment Overview: Highest Growth Momentum in Biodiesel Group EBITDA by Segment Q1 22/23 vs Q1 21/22 in €m Comments 140 ◼ Both segments contribute to +202%yoy 121 120 EBITDA growth 12 100 29 ◼ Disproportionately higher earnings growth in Biodiesel segment of +312% 80 yoy 69
Slide 7: Biodiesel: +312% Jump in EBITDA
Segment Financials: Q1 22/23 Biodiesel: +312% Jump in EBITDA Driven by Higher Selling Prices and Adv. Biodiesel Segment Biodiesel Comments 500 Sales in €m Production in kt 435 ◼ Stable utilisation of 88% in Q1 22/23 400 300 262 ◼ (i) Higher selling prices especially for 200 150 145 advanced biodiese
Slide 8: Biodiesel: Substantially Higher Prices yoy, Markets Softened
Segment Financials: Q1 22/23 Biodiesel: Substantially Higher Prices yoy, Markets Softened towards End of Quarter Biodiesel and Rapeseed oil in €/t Biodiesel 2500 2000 1500 1000 500 Biodiesel in 2022/23 Biodiesel in 2021/22 Rapeseed oil in 2022/23 Rapeseed oil in 2021/22 0 Jul Aug Sept Oct Nov Dec Ja
Slide 9: Bioethanol: +69% increase in EBITDA Driven by Higher Selling Prices
Segment Financials: Q1 22/23 Bioethanol: +69% increase in EBITDA Driven by Higher Selling Prices Segment Bioethanol Comments 300 Sales in €m Bioethanol Production in kt RNG Production in GWh 261 250 200 ◼ Capacity utilisation in Q1 22/23: 200 153 Bioethanol: 95.2% (Q1 21/22: 90.9%) 150 RNG: 80.3% (Q
Slide 10: Bioethanol: Maximizing Downstream Margin Capture for RNG
Segment Financials: Q1 22/23 Bioethanol: Maximizing Downstream Margin Capture for RNG Comments ◼ Utilizing additional € 100/MWh selling through our own downstream infrastructure vs. selling through third party gas station operators ◼ Applies to currently c. 600 GWh stored in the grid + 2/3rds of fut
Slide 11: Bioethanol: Higher Price Levels yoy, Markets Softened
Segment Financials: Q1 22/23 Bioethanol: Higher Price Levels yoy, Markets Softened towards End of Quarter Bioethanol and Wheat in €/t Bioethanol 1800 1600 1400 1200 1000 800 600 400 Bioethanol in 2022/23 Bioethanol in 2021/22 Wheat in 2022/23 Wheat in 2021/22 200 0 Jul Aug Sept Oct Nov Dec Jan Feb M
Slide 12: Update & Outlook: Status Quo and Next Steps
Update & Outlook Status Quo and Next Steps ◼ Expansion in Germany: Fully on track ◼ USA: 160 GWh straw-based RNG plant operational with c. 50%+ capacity utilisation, Nevada biorefinery roll-out running, mechanical completion of biorefinery expected by spring ◼ India: 160 GWh straw-based RNG plant op
Slide 13: Fully on Track to Achieve Our Full Year Targets
Update & Outlook Fully on Track to Achieve Our Full Year Targets of € 300m EBITDA and € 30m Net Cash ◼ Q1 22/23 figures are an excellent basis for the current fiscal year ◼ Accelerated investments in advanced biofuels, globalisation and diversification of end-markets expected in €m Q1 22/23 FY 22/23
Slide 14: Q&A
Q&A VERBIO Vereinigte BioEnergie AG Ritterstr. 23 • 04109 Leipzig • Germany Tel: +49 341 308530-0 • Fax: +49 341 308530-999 ir@verbio.de • www.verbio.de
Slide 15: Business model: Flexible set-up allows for value chain optimization
Business model: Flexible set-up allows for value chain optimization Feedstocks Unique Renewable End-use VERBIO molecules segments Biorefineries Proprietary and Renewable Sterol Transport Agricultural residues unique production Natural Gas Alcohol processes : Biodiesel Pharmaceuticals Non-food-grade
Slide 16: …supported by global diversification
…supported by global diversification Yielding upside leverage and downside resilience © VERBIO IR, November 10, 2022 16
VERBIO Vereinigte BioEnergie — Q1 2022/2023 Earnings Presentation on 6ix