German bioenergy group Verbio has reported a sharp earnings recovery for the first nine months of its 2025/26 financial year, underpinned by record biomethane output and a strengthening greenhouse gas quota market.
Biomethane production reached 1,040 GWh in the nine months to 31 March 2026, up 20% on the same period a year earlier, driven by the ongoing ramp-up of the company's Nevada plant. Verbio also set a new quarterly biomethane record in Q3.
The improved operating performance fed through strongly to the group's financials. Revenue rose to €1.34 billion for the nine-month period (9M 2024/25: €1.15 billion), while EBITDA recovered to €105.7 million from just €22.4 million a year earlier. Net profit reached €22.3 million, against a loss of €40.5 million in the prior-year period. Free cash flow swung from -€107.8 million to +€33 million.
Q3 was particularly strong, with EBITDA of €60.2 million — more than seven times the €8.2 million recorded in Q3 2024/25 — as seasonally high GHG quota demand and rising prices boosted the Bioethanol/Biomethane segment. That segment posted Q3 EBITDA of €34.2 million, compared with a loss of €14 million in the same quarter last year.
Verbio has revised its full-year EBITDA forecast to the upper end of its €100–140 million range, citing sustained selling prices and a supportive regulatory environment.
That regulatory backdrop strengthened further on 8 May, when Germany's Bundesrat approved legislation implementing the EU's revised Renewable Energy Directive. The new framework raises the country's GHG quota from the current 12% to 17.5% in 2027, with a phased increase to 65% by 2040. Advanced biofuel double-counting will be abolished and the cap on cultivated biomass raised to 5.8% by 2032.
Chief executive Claus Sauter welcomed the development: 'With the new GHG quota scheme, we will become an integral part of a forward-looking energy strategy. Biofuels are not just climate action in practice. They also play an important role in supporting the agriculture sector and ensuring a secure energy supply.'
Verbio posts biomethane production record as GHG quota recovery drives turnaround
