Slide 1: VERBIO AG Q3 2022/2023
VERBIO AG Q3 2022/2023 Claus Sauter (CEO), Alina Köhler (IR) May 11, 2023 © VERBIO IR, May 11, 2023
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: Q3 22/23 2. Segment Financials: Q3 22/23 3. Acquisition of South Bend Ethanol 4. Update & Outlook © VERBIO IR, May 11, 2023 3
Slide 4: Group Financials: Q3 22/23
Group Financials: Q3 22/23 Key figures in Q3 22/23: Production EBITDA Net cash Equity ratio in kt* and GWh in € m in € m in % Biodiesel in kt Bioethanol in kt RNG in GWh -66% -32% -0.2pp 271.5 237.2 74.0% 73.8% 177.5 153.1 127.7 139.0 121.3 67.7 65.6 43.2 Q3 21/22 Q3 22/23 Q3 21/22 Q3 22/23 31.12.20
Slide 5: Group EBITDA by Segment Q3 22/23 vs Q3 21/22
Group Financials: Q3 22/23 Segment Overview: Recovery in Ethanol Segment qoq Group EBITDA by Segment Q3 22/23 vs Q3 21/22 in €m Comments 140.0 127.7 ◼ Low yoy comparability due to 120.0 opportunistic feedstock price hedging in 2021/22 52.0 -50.8 100.0 ◼ Qoq EBITDA remained largely stable: 80.0 • Inc
Slide 6: Biodiesel: Low Comparability yoy; Qoq Decline Driven by Deteriorating Prices
Segment Financials: Q3 22/23 Biodiesel: Low Comparability yoy; Qoq Decline Driven by Deteriorating Biodiesel Prices Segment Biodiesel Comments 400 Sales in €m Production in kt 308.2 ◼ Revenues increased 6% yoy thanks to 292.0 300 higher volumes and sales prices for lower-margin biodiesel in North 20
Slide 7: Biodiesel Market Development: Wrongly Labelled Biodiesel Floods European Market
Segment Financials: Q3 22/23 Biodiesel Market Development: Wrongly Labelled Biodiesel Floods European Market Spreads in €/t Biodiesel and Rapeseed oil in €/t Biodiesel 700 2400 600 2200 Biodiesel in 2022/23 Rapeseed oil in 2022/23 500 2000 400 1800 300 1600 200 1400 100 1200 0 Jul Aug Sept Oct Nov D
Slide 8: Action is Being Taken Against Wrongly Labelled Biodiesel
Segment Financials: Q3 22/23 Action is Being Taken Against Wrongly Labelled Biodiesel Chinese Biodiesel Exports and GHG Quota Generation Comments 350 in thousand tonnes 300 ◼ Chinese exports have doubled yoy 250 with a large share of wrongly labelled 200 biodiesel heading towards Germany to 150 part
Slide 9: Bioethanol: Strong Recovery qoq
Segment Financials: Q3 22/23 Bioethanol: Strong Recovery qoq Segment Bioethanol Comments 300 Sales in €m Bioethanol Production in kt RNG Production in GWh 271.5 250 237.2 ◼ Stable sales yoy thanks to sale of 200 additional GHG quota at the beginning 150 133.7 133.8 of the year 100 67.7 65.6 50 ◼ Str
Slide 10: Bioethanol Market Development: Market Spreads Recovered Strongly
Segment Financials: Q3 22/23 Bioethanol Market Development: Market Spreads Recovered Strongly Spreads in €/t Bioethanol and Wheat in €/t Bioethanol 700 1600 600 1400 500 1200 400 1000 300 800 200 600 100 0 400 Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun Bioethanol in 2022/23 Wheat in 2022/23 -1
Slide 11: Acquisition of South Bend Ethanol: Our Competitive Advantage in the US Market
Acquisition of South Bend Ethanol Our Competitive Advantage in the US Market VERBIO's Competitive Advantage in USD/gal Comments 0.70 0.70 ◼ Deal Rationale: Convert traditional bioethanol plant into VERBIO 0.60 0.60 biorefinery producing 85 million gal. bioethanol and 850 GWh RNG p.a. 0.50 0.50 with
Slide 12: Acquisition of South Bend Ethanol: New Project Adds Substantial Capacities
Acquisition of South Bend Ethanol New Project Adds Substantial Capacities Capacity Expansion incl. South Bend Ethanol 3,500 3,000 2,830+ 2,500 1,980 2,000 1,500 1,300 900 1,000 710 710+ 800+ 660 660 800 100 100+ 50 50 500 260 300 80 0 2021/2022 2022/2023E 2023/2024E 2026/2027E Biodiesel (in kt) Adva
Slide 13: Update & Outlook
Update & Outlook ◼ FY 22/23 Guidance adjusted to € 240m EBITDA; Net Cash in positive territory ◼ Expansion in Germany: Slightly ahead of plan ◼ USA: 160 GWh straw-based RNG plant operational with c. 50%+ capacity utilisation, Nevada biorefinery roll-out running, mechanical completion of biorefinery
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: Glossar
Glossar ◼ 1st Gen Biofuel: First Generation Biofuel ◼ 2nd Gen Biofuel: Second Generation Biofuel ◼ RNG: Renewable Natural Gas = Biomethane © VERBIO IR, May 11, 2023 15