Full Year 2024 Verbio SE Earnings Call Transcript
Key Points
- Verbio SE (XTER:VBK) achieved record production volumes, exceeding 1 million tonnes of liquid biofuels and 1.1 terawatt hours of RNG.
- The company increased CO2 savings for customers by 1 million tonnes to 4.4 million tonnes.
- Significant progress in scaling technology abroad, with Nevada running on small volumes and South Bend Indiana increasing production availability by 20%.
- Groundbreaking ceremony for a new speciality chemicals facility in Bitterfeld, tapping into a promising market.
- Launch of a trading unit in Geneva to better manage global flow of goods and feedstocks.
- EBITDA for 2023-2024 was EUR121.6 million, below initial expectations of EUR200 million to EUR250 million.
- Continued pressure from fraudulent Chinese biodiesel imports impacted results.
- Net debt increased to EUR32.9 million due to growth investments of more than EUR180 million.
- Lower greenhouse gas quota prices and premiums negatively impacted earnings.
- Ramp-up costs in the United States affected the bioethanol and biomethane segment's EBITDA, which fell year-over-year.
Good afternoon and a warm welcome to everybody, and thanks for joining the Verbio Q4 fiscal year '23-'24 earnings call. I'm very honoured to have with me the management of Verbio, Mr. Claus Sauter, the CEO; and also Mr. Olaf Trober, who is the CFO. Both will be hosting and presenting the results today. A presentation will be followed by a Q&A. (Operator Instructions)
I'm looking forward to interesting insights, and I happily hand it over to Mr. Sauter and Mr. Trober.
Thank you very much. Good afternoon, everyone, and welcome to today's earnings call. I am here with Olaf Trober our CFO; and with Alina Kohler, our Investor Relations Manager. It's great to have you join us on the call will cover our fourth-quarter and full year 2023-2024 results.
Despite the challenging market environment, I am pleased that we were able to post a good set of results for the full year and in Q4, especially in line with our latest
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