LEIPZIG (dpa-AFX) - Lower sales prices and high raw material costs are making biofuel producer Verbio more cautious for the full year. The company, which is listed on the small-cap index SDax, expects earnings before interest, taxes, depreciation and amortization (Ebitda) of only 240 million euros in fiscal 2022/23, according to a statement on Thursday. Previously, the target had been 300 million euros. "In the biodiesel segment in particular, the continued decline in sales prices for comparatively expensive vegetable oil purchases is having a negative impact on earnings due to the time lag between purchases and sales," it said.

Verbio shares came under pressure on Thursday afternoon, plummeting by almost seven percent. While analyses had deemed the old profit target too ambitious, the new one is well below the median market estimate.

In the first nine months, Verbio reported an operating profit of around 214 million euros based on preliminary calculations. In the same period last year, the figure was just under 315 million euros. The full nine-month figures are to be published on May 11./mis/he