CropEnergies with dynamic revenue growth
In the 1st half of the 2009/10 financial year CropEnergies AG, Mannheim, increased its revenues by 26% to 184.3 (146.3) million. This was mainly due to higher sales of bioethanol as a result of the growth of 67% in bioethanol production to a total of 294,000 m³ in the first six months.
Dr. Theo Spettmann takes over as supervisory board chairman at CropEnergies
The annual general meeting of CropEnergies AG, Mannheim, on July 16, 2009 elected Dr. Theo Spettmann to the supervisory board for a term ending at the close of the Annual General Meeting in 2012. At the supervisory board meeting held after the annual general meeting he was elected as chairman. Dr. Spettmann is succeeding Dr. h. c. Eggert Voscherau, who has been chairman of the supervisory board of CropEnergies AG since November 2006 and retired from the supervisory board at the end of todays annual general meeting. CropEnergies thanks Dr. Voscherau for the valuable services he has rendered and his exceptional support at a time when CropEnergies has evolved from a purely German bioethanol producer into a pan-European group of companies.
CropEnergies increases revenues and production
Operating result still burdened by start-up costs in Belgium
In the first three months of the 2009/10 financial year CropEnergies AG, Mannheim, increased its revenues by 58% from 56.4 million to 89.0 million. This was mainly due to a higher volume of bioethanol sold as a result of the growth in bioethanol production to a total of 145,000 m³.
CropEnergies and Tyczka Energie to build a CO2 liquefaction plant in Zeitz
CropEnergies AG, Mannheim, and Tyczka Energie GmbH, Geretsried, are planning to build a plant for the liquefaction of food quality CO2 (carbon dioxide) in Zeitz, Saxony-Anhalt, Germany. The plant will have an annual production capacity of 100,000 tonnes of carbon dioxide and is scheduled to commence operation in 2010.
24-hour race at the Nürburgring: 2nd place for Volvo-CropPower85
Powered with the biofuel CropPower85 (E85) the Volvo C30 HEICO SPORTIV took part in the legendary Nürburgring 24-hour race on 23 to 24 May 2009 and won second place in its class. With this, Bioethanol proved impressively that it is not only climate friendly but also matches the performance of fossil fuels.
CropEnergies on growth path
CropEnergies AG, Mannheim, has continued on its successful growth path in the past 2008/09 financial year (1 March 2008 to 28 February 2009). Revenues were up 76% to 328.4 (186.8) million. With a Group operating profit of 18.2 (22.0) million, CropEnergies achieved a respectable result under difficult market conditions. Despite the start-up costs for the new plant in Wanze, Belgium, the related higher financing costs, and the non-recurrence of the one-off tax income booked the year before, CropEnergies posted Group net earnings for the year of 5.9 (20.1) million. The parent company CropEnergies AG improved its net earnings for the year substantially to 6.0 (1.2) million and was able to offset the remaining losses carried forward from the previous years.
Dr. Theo Spettmann nominated for CropEnergies AG Supervisory Board
At its meeting on 19 May 2009, the supervisory board of CropEnergies AG, Mannheim, decided to propose Dr. Theo Spettmann to be elected to the supervisory board at the Annual General Meeting on 16 July 2009. Dr. Spettmann has been nominated to succeed Dr. h. c. Eggert Voscherau, who will be retiring from the supervisory board at the end of the Annual General Meeting on 16 July 2009.
E85 biofuel for motor sport
CropEnergies supplies high-performance E85 fuel for endurance race at Nürburgring
CropEnergies AG, Mannheim, one of the leading bioethanol producers in Europe, is entering a fuel and technology partnership with the Volvo tuning specialist HEICO SPORTIV, Weiterstadt. The joint motor sport involvement is designed to demonstrate that bioethanol derived from renewable raw materials is not only a climate friendly fuel, but also an extremely powerful one. CropPower85, the standard-compliant E85 fuel from CropEnergies, is also sold at German filling stations, and is a real alternative to fossil fuels. The joint racing project, a 350 HP bioethanol-fuelled Volvo C30 T5, will be starting in the Nürburgring 24-hour race from May 21 to 24, 2009, and in other events.
CropEnergies raises revenue forecast for the 2008/09 financial year
Mannheim, 13 January 2009 - In the first nine months of the 2008/09 financial year CropEnergies AG, Mannheim, was able to increase its revenues by 89% from 125.7 to 237.5 million. For the full 2008/09 financial year CropEnergies now expects revenues of over 300 (187) million.
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