CropEnergies increases revenues and achieves lower operating profit in the first nine months of the financial year 2013/14
Adjustment of outlook due to decreased ethanol prices
In the first nine months of the current financial year 2013/14 (1 March 2013 - 28 February 2014) CropEnergies AG, Mannheim, increased revenues to EUR 572.8 (previous year: 509.7) million.
CropEnergies with higher revenues and lower earnings in 1st half of 2013/14
Outlook confirmed - start-up of bioethanol production plant in the UK
In the 1st half of the financial year 2013/14 (1 March 2013 - 31 August 2013), revenues of CropEnergies AG, Mannheim, increased by 16 percent to EUR 372 (previous year: 320) million exceeding the previous record level of the 2nd half of the financial year 2012/13. The growth in revenues is due to the higher sales volume of bioethanol as well as higher earnings for bioethanol and high protein food and animal feed products.
CropEnergies with growth in revenues and decrease in earnings in 1st half of 2013/14
In the 1st half of the financial year 2013/14 (1 March 2013 - 31 August 2013), CropEnergies AG, Mannheim, increased revenues by 16 percent compared to the previous year to EUR 372 (previous year: 320) million. An important factor for the growth in revenues was the higher sales volume of bioethanol especially due to the increase in trading volumes. In addition, higher earnings for bioethanol and high protein food and animal feed products accounted for the growth.
CropEnergies increases dividend
At the annual general meeting of CropEnergies AG, Mannheim, on 30 July 2013, shareholders approved by a large majority the proposal of the supervisory board and the executive board to increase the dividend to EUR 0.26 (previous year: EUR 0.18) per share entitled to dividend. This includes an additional distribution of EUR 0.06, which accommodates to the particularly good earnings situation in the 2012/13 financial year. Hence, the total dividend payout amounts to EUR 22.1 (previous year: 15.3) million. All other agenda items were also adopted by a majority of more than 99 percent. Around 800 shareholders and guests attended the annual general meeting in the Congress Center Rosengarten in Mannheim. Overall, 81.26 percent of the share capital was represented.
CropEnergies adjusts outlook for financial year 2013/14 after acquisition of Ensus
On 19 July 2013 CropEnergies AG, Mannheim, acquired the British bioethanol producer Ensus Limited, Yarm, England. With the acquisition, CropEnergies increases the annual production capacity by 50 percent to more than 1.2 million cubic metres and strengthens its position as one of the leading bioethanol producers in Europe. The production plant in the northeast of England is supposed to start production in the autumn of 2013. For the whole financial year, the company thus expects an increase in revenues of 10 to 20 percent compared to the previous year (EUR 689 million) as a result of the rise in the production of bioethanol and protein animal feed. Until now, revenues were expected at the same level as the previous year's. However, operating profit will initially be reduced by the commissioning of the Ensus plant, which has been at a standstill since April 2013. For the full financial year 2013/14, CropEnergies expects an operating profit between EUR 40 and 50 million. Previously, an operating profit of EUR 50 to 60 million had been expected.
CropEnergies acquires UK bioethanol producer Ensus
Bioethanol production capacity increases by 50 percent
CropEnergies AG, Mannheim, acquires the UK bioethanol producer Ensus Limited, based in Yarm, England. The company operates one of the largest production plants for bioethanol in Europe, in the northeast of England with an annual capacity of 400,000 cubic metres of bioethanol and 350,000 tonnes of dried protein animal feed (DDGS). In addition, carbon dioxide is delivered to an adjacent liquefaction plant which processes it for utilisation in the food and drinks industry. The bioethanol plant was commissioned at the beginning of 2010 and employs approximately one hundred employees. CropEnergies will significantly improve the competitiveness of the company by investing more than 50 million GBP.
CropEnergies with a good start into the financial year 2013/14
Revenues and earnings in 1st quarter 2013/14 above previous year's level
CropEnergies AG, Mannheim, increased its revenues and earnings in the 1st quarter of the financial year 2013/14 (1 March 2013 - 31 May 2013). Revenues rose by 16 percent to EUR 186.0 (previous year: 160.5) million due to higher revenues for bioethanol as well as for protein food and animal feed products and due to a growth in bioethanol sales volumes. EBITDA improved by 3.6 percent to EUR 23.6 (previous year: 22.8) million and the operating profit by 5 percent to EUR 15.6 (previous year: 14.9) million. Owing to a high surplus from current business activities the net financial debt declined significantly to EUR 52.4 (previous year: 124.6) million.
CropEnergies secures jobs and income
Study proves strong, above average regional impulses of bioethanol plant in Zeitz
The bioethanol production of CropEnergies Bioethanol GmbH in Zeitz is an important multiplier of the economic value added in the region - and indirectly secures thousands of jobs. This is proven by a study of the independent economic research institute WifOR, Darmstadt.
CropEnergies with record revenues and earnings in the 2012/13 financial year
Further expansion of the site in Zeitz
CropEnergies AG, Mannheim, had a successful 2012/13 financial year. Owing to higher production and sales volumes, revenues significantly exceeded the previous year's record level, growing by 20 percent to EUR 688.7 (previous year: 572.1) million. EBITDA improved more than proportionally in relation to revenue growth, rising by 41 percent to EUR 119.0 (previous year: 84.3) million, which corresponds to an EBITDA margin of 17.3 (previous year: 14.7) percent.
CropEnergies significantly increases dividend
Additional payout due to good earnings situation
CropEnergies AG, Mannheim, will propose to the annual general meeting on 30 July 2013 that the dividend be increased to EUR 0.20 (previous year: 0.18) per share and that a further EUR 0.06, i.e. a total of EUR 0.26 (0.18) per share, be paid out on account of the particularly good earnings situation in the 2012/13 financial year. The supervisory board, at its meeting on 6 May 2013, approved this proposal by the executive board.
CropEnergies with outstanding result in the first three quarters of 2012/13
Operating profit in 3rd quarter more than doubled
The group revenues of CropEnergies AG, Mannheim, have increased by 20 percent to EUR 510 (previous year: 426) million within the first nine months of the financial year 2012/13 (1 March to 30 November 2012). This revenue growth mainly results from a significant raise in bioethanol sales as well as from higher proceeds from the sale of food and animal feed products. EBITDA improved to a record level of EUR 94 (previous year: 66) million reaching a margin of 18.5 (previous year: 15.5) percent. Operating profit grew more than proportionally by 64 percent to EUR 70 (previous year: 43) million, which is equivalent to an operating margin of 13.8 (previous year: 10.0) percent. The 3rd quarter alone contributed EUR 33 (previous year: 14) million to this result. The main reasons for the growth in earnings are the additional contributions to operating income made by increased production and sales volumes, an early and cost-efficient hedging of raw materials as well as the higher proceeds from the sale of food and animal feed products.
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