shares in verbio vereinigte bioenergie ag tumbled friday despite raised guidance from the company after remarks from germanys environment minister soured market sentiment for biofuels in remarks to a newspaper government minister steffi lemke said she is in favor of using less grain and vegetable oils for biofuels agricultural land is limited worldwide and we urgently need it for food as the war in ukraine dramatically demonstrates she is quoted as saying in daily augsburger allgemeine on friday at 0926 gmt verbio traded down 19 at eur6655 verbio said friday that strong demand for its advanced secondgeneration biofuels as well as rising rawmaterial prices led it to raise its earnings outlook for the 2022 fiscal year ending june 30 it now sees earnings before interest taxes depreciation and amortization coming in at 430 million euros 4515 million in 2022 compared with a previous forecast of eur300 million the company said it expects net financial assets to increase to approximately eur220 million compared with eur130 million previously