CropEnergies shows strong increase in revenues and profits in 1st half-year
Further reduction in net financial debt
In the 1st half of the current financial year 2011/12 (1 March - 31 August 2011) CropEnergies AG, Mannheim, increased group revenues by 28 percent to EUR 275.2 (previous year: EUR 214.7) million. This was mainly due to higher prices for bioethanol and protein food and animal feed products. EBITDA rose by 37 percent to EUR 44.5 (previous year: EUR 32.4) million. The operating profit went up by 67 percent to EUR 29.0 (previous year: EUR 17.4) million. Net earnings for the year were increased by 77 percent to EUR 18.5 (previous year: EUR 10.5) million. CropEnergies reduced its net financial debt in the 1st half of the 2011/12 financial year by EUR 22.2 million to EUR 178.2 (previous year: EUR 200.4) million in spite of paying a dividend of EUR 12.8 (previous year: EUR 4.3) million in July 2011.
CropEnergies triples its dividend
Positive outlook - Establishment of a trading branch in the USA
At the annual general meeting of CropEnergies AG, Mannheim, on 19 July 2011, the shareholders approved the proposal of the supervisory board and the executive board to triple the dividend to EUR 0.15 per share (previous year: 0.05). The total sum paid out therefore rose to EUR 12.8 (previous year: 4.3) million. All the other motions proposed by the management were also adopted by a clear majority of over 98 percent. Around 850 shareholders and guests were present at the annual general meeting in the Rosengarten in Mannheim, representing approximately 83 percent of the capital stock.
CropEnergies continues its growth course
1st quarter exceeds expectations
CropEnergies AG, Mannheim, started the financial year 2011/12 with a 1st quarter that exceeded expectations. Due to increased sales of bioethanol and co-products, as well as higher sales prices for bioethanol, revenues increased by 41 percent to EUR 132.1 (previous year: 93.5) million. The operating profit multiplied to EUR 15.3 (previous year: 2.4) million.
CropEnergies Increases Outlook After Strong 1st Quarter
CropEnergies AG, Mannheim, started into the financial year 2011/12 (1 March 2011 - 29 February 2012) with a strong 1st quarter. Revenues increased by 41 percent to EUR 132.1 (previous year: 93.5) million compared to the previous year. At the same time, operating profit was improved to EUR 15.3 (previous year: 2.4) million. The main reason for the increase in revenues and profits was the higher utilisation of the production plants. In the 1st quarter of the previous financial year, there had been extensive maintenance and revision phases at the plants in Zeitz and Wanze.
CropEnergies expects further growth of revenues and earnings in the 2011/12 financial year
Improved earnings in 2011/12 allow a tripling of the dividend
CropEnergies AG, Mannheim (Germany), increased its revenues in the 2010/11 financial year (1 March 2010 - 28 February 2011) by 26 percent to EUR 472.8 (previous year: 374.1) million.
CropEnergies plans to triple dividend after successful financial year
CropEnergies AG, Mannheim, increased its revenues in the 2010/11 financial year (1 March 2010 - 28 February 2011) by 26 percent to EUR 472.8 (previous year: 374.1) million and nearly quadrupled its operating profit to EUR 45.9 (previous year: 11.9) million. The company thus exceeded its own forecast and further expanded its position as one of Europe's leading bioethanol manufacturers.
CropEnergies Welcomes Commitment to E10
The CropEnergies AG, Mannheim, welcomes the E10-summit's decision made in the Federal Ministry of Economics and Technology on 8 March to proceed with the introduction of E10 in Germany with the support of all participants. Rainer Brüderle, Federal Minister of Economics and Technology, invited organisations representing the automotive, fuel and agricultural sector as well as the consumer side to discuss further steps to facilitate E10.
CropEnergies Confident for New Financial Year Despite Difficult Start of E10
Forecast for Financial Year 2010/11 confirmed
The CropEnergies AG, Mannheim, looks with confidence towards the new financial year which has started on 1 March 2011, despite the difficulties of the market launch of E10 in Germany. The company confirms the forecast for the previous business year which ended on 28 February 2011. It expects the revenues to increase to more than EUR 440 million (previous year: EUR 374 million) and the operating profit to more than EUR 40 million (previous year: EUR 12 million). With the implementation of the "Renewable Energies Directive" in the EU, the market for bioethanol in Europe is expected to grow considerably over the next years. This development is independent of the current difficulties of the introduction of E10 at German petrol stations.
CropEnergies reports a good business development and positive outlook
CO2 liquefaction plant in Zeitz starts production
CropEnergies AG, Mannheim, increased its revenues strongly year over year in the first three quarters of the current 2010/11 financial year (1 March - 30 November 2010) to EUR 349 (previous year: 280) million. That was a growth of 24 percent. EBITDA trebled versus the same period of the previous year to EUR 54.6 (previous year: 16.9) million and reached a margin of 15.7 percent. Operating profit improved to EUR 32.0 (previous year: 3.6) million. The growth in revenues and earnings was the result above all of the increased production of bioethanol and the high-grade protein food and animal feed products at the plant in Wanze, Belgium, which led to higher sales volumes also in the 3rd quarter. Cash flow rose strongly to EUR 47.3 (previous year: 6.9) million. After capital expenditure, and despite the company's first dividend payment in July 2010, CropEnergies was able to reduce net financial debt to EUR 193.5 (28 February 2010: 215.4) million.
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