Slide 1: FY/Q4 2023/24 Earnings Call
FY/Q4 2023/24 Claus Sauter (CEO), Olaf Tröber (CFO) Earnings Call 26.09.2024
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: Group highlights from FY 2023/24
Group highlights from FY 2023/24 Record Production Progress in our Building the Enhancing market growth initiatives foundation for future knowledge through the key markets intensification of asset- light activities > 1m tonnes liquid biofuels Nevada: commencement of Groundbreaking for specialty Foun
Slide 4: Key figures in FY 2023/24
Key figures in FY 2023/24 Production in kt* and GWh EBITDA in € m Net debt in € m Equity ratio in % Biodiesel in kt Bioethanol in kt RNG in GWh 240.3 1,078.1 1,100.2 70.3% 67.4% 610.5 637.3 121.6 521.4 317.6 32.9 FY 22/23 FY 23/24 FY 22/23 FY 23/24 30.06.2023 30.06.2024 30.06.2023 30.06.2024 * thous
Slide 5: Overview: Significant earnings improvement yoy and qoq
Overview: Significant earnings improvement yoy and qoq Group EBITDA by segments Q4 23/24 vs. Q4 22/23 in € m Bioethanol Biodiesel 80 60 -26.4 39.5 38.7 40 26.8 9.9 20 36.2 7.3 28.5 11.4 0 -10.3 -5.2 Q4 22/23 Q4 22/23 Biodiesel Bioethanol Q4 23/24 Q3 23/24 -20 5
Slide 6: Biodiesel segment
Biodiesel segment EBITDA in € m Sales in € m EBITDA margin 400 Production in kt 60 20.0% 300 266.4 14.5% 15.0% 40 196.8 28.5 10.0% 200 154.3 154.2 20 5.0% 100 -10.3 0.0% 0 0 Q4 22/23 Q4 23/24 -3.9% -5.0% Q4 22/23 Q4 23/24 -20 -10.0% Thanks to significantly higher sales prices for biodiesel in Europe
Slide 7: Biodiesel market development (Europe)
Biodiesel market development (Europe) Market spreads in €/t Biodiesel and rapeseed oil in €/t of biodiesel in 2023/24 1,400 Biodiesel 600 2022/23 2023/24 Rapeseed oil 400 1,200 200 1,000 0 800 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Spread = Bi
Slide 8: Bioethanol/Biomethane segment: best quarterly result in FY 2023/24
Bioethanol/Biomethane segment: best quarterly result in FY 2023/24 Sales in € m EBITDA in € m Bioethanol Production in kt EBITDA margin 400 RNG Production in GWh 60.0 22.0% 20.1% 284.4 300.0 300 17.0% 40.0 36.2 180.6 12.0% 200 139.9 142.9 109.4 7.0% 7.0% 20.0 100 9.9 2.0% 0 0.0 -3.0% Q4 22/23 Q4 23/
Slide 9: Bioethanol market development (Europe)
Bioethanol market development (Europe) Market spreads in €/t Bioethanol and wheat in €/t of bioethanol in 2023/24 500 2022/23 1,200 Bioethanol 400 2023/24 Wheat 1,000 300 200 800 100 0 600 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun -100 Spread = B
Slide 10: Quota prices remained under pressure
Quota prices remained under pressure GHG quota price development from Jan 2023 to Sept 2024 in €/t CO2-eq 500 400 300 200 100 0 Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept As per 23.09.24 close 10
Slide 11: Outlook: New 2024/25 guidance implies +15% yoy EBITDA growth
Outlook: New 2024/25 guidance implies +15% yoy EBITDA growth at the midpoint Emissionsreduktion bei Erdgasfahrzeugen2022/2023 2023/2024 2024/2025E im Vergleich zu Diesel Biodiesel Capacity 660,000 t 710,000 t 710,000 t Capacity utilisation 92.5% 89.8% → yoy Bioethanol Capacity 342,000 t 800,000 t 80
Slide 12: Supply-side constraints and rising demand set stage for surge in GHG quota market (1)
Supply-side constraints and rising demand set stage for surge in GHG quota market (1) 1 The elimination of UER as a compliance option from 2025 and potential cancellation of c. 4m t CO2-eq 2 Voluntary cancellations of UER compliance tickets (e.g. Rosneft cancelled 0,5m t CO2-eq worth ~ € 50m) 3 Phas
Slide 13: Supply-side constraints and rising demand set stage for surge in GHG quota market (2)
Supply-side constraints and rising demand set stage for surge in GHG quota market (2) 1 The GHG quota increases annually; the largest 'additional' demand for the GHG quota from biofuels and EVs is expected in 2025E due to the elimination of UERs since the implementation of RED Additional demand of C
Slide 14: Verbio Nevada, Iowa (USA)
Verbio Nevada, Iowa (USA)
Slide 15: Appendix
Verbio Appendix Pioneering green sol lutions
Slide 16: Further resources
Further resources Zweifel an Klimaschutzprojekten in China: Rosneft reagiert – ZDFheute Deutscher Bundestag - Lemke will gefälschte Klimaschutzprojekte rückabwickeln 20240904_Folien_Pressekonferenz Initiative Klimabetrug Stoppen (1).pdf BMUV: Sofortmaßnahme erhöht Nachfrage bei klimaneutralen Krafts
Slide 17: 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 18: 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