Verbio Se · XETR:VBK
Verbio — H1 2023/24 Earnings Presentation
15 slides from Verbio's earnings presentation, Feb 8, 2024
Slide 1: H1/Q2 2023/24 Earnings Call
H1/Q2 2023/24 Claus Sauter (CEO), Olaf Tröber (CFO) Earnings Call 08.02.2024
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: Key Figures in H1 2023/24
Key Figures in H1 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 170,3 522,1 519,1 70,3% 69,3% 303,1 321,8 248,9 74,9 142,7 13,6 H1 22/23 H1 23/24 H1 22/23 H1 23/24 30.06.2023 31.12.2023 30.06.2023 31.12.2023 * thousand t
Slide 4: Biodiesel Segment Strengthens Group Q2 2023/24 EBITDA
Overview: Biodiesel Segment Strengthens Group Q2 2023/24 EBITDA Group EBITDA by Segments Q2 23/24 vs. Q2 22/23 in € m Bioethanol Biodiesel 60 48.9 48.8 1,7 3,0 40 -17.7 26.1 -6.9 47,0 44,9 20 29,3 0 -5,2 Q2 22/23 Biodiesel Bioethanol Q2 23/24 Q1 23/24 -20 4
Slide 5: Biodiesel Segment
Biodiesel Segment Sales in € m EBITDA in € m Production in kt 100 EBITDA margin 20,0% 400 357,4 80 13,2% 300 11,7% 250,1 10,0% 60 47,0 200 158,0 160,6 40 29,3 0,0% 100 20 0 0 -10,0% Q2 22/23 Q2 23/24 Q2 22/23 Q2 23/24 In addition to the still attractive yet lower total product margin, the low GHG Lo
Slide 6: Biodiesel Market Development
Biodiesel Market Development Market Spreads in €/t Biodiesel and Rapeseed Oil in €/t of Biodiesel in 2023/24 600 2022/23 1.400 Biodiesel 2023/24 Rapeseedoil 400 1.200 200 1.000 0 800 Jul Aug Sep Okt Nov Dez Jan Feb Mar Apr Mai Jun Jul Aug Sep Okt Nov Dez Jan Feb Mar Apr Mai Jun Spread = Biodiesel Pr
Slide 7: Bioethanol/Biomethane Segment
Bioethanol/Biomethane Segment Sales in € m Bioethanol Production in kt RNG Production in GWh EBITDA in € m 400 40 300 261,1 275,9 30 200 166,5 20 123,3 126,2 100 71,3 10 1,7 -5,2 0 0 Q2 22/23 Q2 23/24 Q2 22/23 Q2 23/24 -10 Yoy sales growth despite lower sales prices was driven by increased productio
Slide 8: Bioethanol Market Development
Bioethanol Market Development 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 Okt Nov Dez Jan Feb Mar Apr Mai Jun Jul Aug Sep Okt Nov Dez Jan Feb Mar Apr Mai Jun -100 Spread = Bioethanol
Slide 9: Quota Prices Continue to Be Soft in the Short Term, but Expect a Return to Fair Market Conditions
Quota Prices Continue to Be Soft in the Short Term, but Expect a Return to Fair Market Conditions GHG quota price development from Oct 2022 to Jan 2024 in € per tonne of • In 2022 and 2023, oil companies in Germany were able to create a CO2 reduction buffer of approx. 6 million tonnes of CO2 savings
Slide 10: Chinese Biodiesel Exports are Coming Down Thanks to EU Initiatives
Chinese Biodiesel Exports are Coming Down Thanks to EU Initiatives Chinese Biodiesel exports in thousand tonnes 300 250 200 Monthly average 150 2023 100 50 0 2021 2022 Jan 23 Feb 23 Mar 23 Apr 23 May 23 Jun 23 Jul 23 Aug 23 Sep 23 Oct 23 Nov 23 Dec 23 Monthly average Source: Chinese Customs 10
Slide 11: 2023/24 Guidance Cut Reflects Short-Term Headwinds
2023/24 Guidance Cut Reflects Short-Term Headwinds Emissionsreduktion bei Erdgasfahrzeugen 2022/2023 Old: 2023/2024E New: 2023/2024E im Vergleich zu Diesel Biodiesel Capacity 660,000 t 710,000 t 710,000 t Capacity utilisation 92,5% High High Bioethanol Capacity 342,000 t 800,000 t 800,000 t Capacity
Slide 12: Verbio Nevada, Iowa (USA)
Verbio Nevada, Iowa (USA) Bioethanol RNG Fertilizer 12
Slide 13: Current Topics
Current Topics • Construction activities progressing: The groundbreaking ceremony for the specialty chemicals production facility at the Bitterfeld site is expected for spring 2024 • LNG/CNG gas stations: 13 operating, 8 more expected until FY 2023/24 end 13
Slide 14: Verbio SE
Verbio SE Ritterstraße 23 T +49 341 308530-0 04109 Leipzig F +49 341 308530-999 Germany info@verbio.de www.verbio.de
Slide 15: 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 15