LEIPZIG (dpa-AFX) - The biofuel producer Verbio has reduced its expectations for the current financial year. The quota prices for ethanol and greenhouse gas reduction (GHG) remain under pressure, the company surprisingly announced in Leipzig on Monday. As a result, the management now expects earnings before interest, taxes, depreciation and amortization of only EUR 120 to 150 million in the 2023/2024 financial year (until the end of June). Previously, expectations had been between 200 and 250 million euros. Net debt is expected to be between 145 and 175 million euros. Previously, 110 to 150 million euros had been announced. Following the announcement of the news, the shares slipped to the bottom of the small-cap index SDax with a loss of over 5 percent.

Verbio will present further details with its figures for the second quarter on February 8./lew/he