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Verbio (VBK) investor relations material
Verbio Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record biodiesel production of 166.9 kt with 94% capacity utilization; ethanol and biomethane production increased year-over-year, driven by operational improvements and the Nevada plant ramp-up.
Revenue rose to €438.2 million in Q1 2025/2026, up 22% year-over-year, supported by higher GHG quota demand, increased biodiesel prices, and greater bioethanol and biomethane sales, especially in North America.
EBITDA surged to €58.2 million in Q1 2025/26 from €15.4 million in Q1 24/25, reflecting strong segment performance and favorable market conditions.
Net debt increased to €203.8 million as of September 30, 2025, due to negative free cash flow and ongoing investments, while equity ratio remained stable at 57.9%.
Net result improved to €-4.0 million from €-22.9 million year-over-year, with EPS at €-0.06 compared to €-0.36.
Financial highlights
Biodiesel segment EBITDA rose to €22.6 million, with improved gross margin and stable revenues at €244.1 million.
Bioethanol and biomethane segment losses reduced to €-9.5 million, mainly due to North American recovery and absence of prior year negative effects; segment revenue reached €191.2 million.
Group EBITDA margin improved to 3.5% from -1.8% year-over-year.
Operating cash flow was €-17.3 million, down from €-6.1 million year-over-year, mainly due to lower reduction in trade receivables and payables.
Cash and cash equivalents at quarter-end were €52.2 million, down €12.2 million from the start of the period.
Outlook and guidance
Guidance for FY 2025/2026 remains unchanged, targeting EBITDA in the high double-digit million euro range and moderate net debt reduction.
Management expects further market normalization in Europe and positive effects from the Nevada plant ramp-up in North America.
Full utilization at the Nevada plant is expected by Q4, with current utilization already at 80%.
Cautious planning regarding RED III quota prices, with upside potential if prices or bioethanol margins remain high.
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