LEIPZIG (dpa-AFX) - Biofuel producer Verbio has been unable to fully pass on its increased costs to customers in recent months. Thanks to higher sales prices, sales in the first half of the current fiscal year 2022/2023 (to the end of June) rose by a third to more than 1 billion euros, but operating profit slipped below the previous year's result. In the second fiscal quarter in particular, sales prices fell, especially for bioethanol, due to imports from Brazil and the U.S., Verbio announced in Leipzig on Thursday. This was offset by higher raw material prices and energy costs.

Before interest, taxes, depreciation and amortization (Ebitda) therefore remained in the first half of 170.3 million euros, 9 percent less than a year earlier. However, management expects costs to fall in the coming months and is therefore maintaining its forecast for the year. This envisages an operating profit of 300 million euros./lew/tih