Press release 23.06.2014
CropEnergies starts into financial year 2014/15 as planned
Growth in revenues and decrease in profits in 1st quarter 2014/15 in line with forecast for full financial year
Mannheim, 23June 2014 - In the 1st quarter of the financial year 2014/15 (1 March 2014 - 31 May 2014), CropEnergies AG, Mannheim, increased revenues by 11 percent to EUR 208 (previous year: EUR186) million compared to the 1st quarter of the previous year. The growth in revenues is the result of the increase in production and sales of bioethanol as well as of protein-rich food and animal feed products.
The EBITDA, however, decreased in the 1stquarter 2014/15 as expected, due to bioethanol prices which were lower than in the previous year. At EUR 13.5 (previous year: EUR 23.5) million. it was 43 percent below the previous year's level. Accordingly, operating profit sank by EUR 11.1 million to EUR 4.5 (previous year: EUR 15.6) million.
Compared to the 4thquarter of the previous financial year 2013/14, the company's performance has improved. While revenues remain the same, EBITDA doubled to EUR 13.5 (4th quarter 2013/14: EUR 6.5) million and operating profit reachedEUR 4.5 (4th quarter 2013/14: EUR -2.6) million.
For the financial year 2014/15, CropEnergies confirms a targeted growth in revenues to EUR 850 to EUR 900 (previous year: EUR 781) million and an EBITDA of EUR 10 to EUR 60 (previous year: EUR 68) million. Due to continuing uncertainties about the development of bioethanol prices, CropEnergies further expects an operating profit in the range of minus EUR 30 to plus EUR 20 million.
The interim report for the 1stquarter 2014/15 will be published on 8 July 2014.
Ensuring mobility in a climate friendly way - today and in the future - is CropEnergies' business. Founded in Mannheim, Germany, in 2006, the young and dynamically growing member of the Südzucker Group is one of the leading European manufacturers of sustainably produced bioethanol for the fuel sector today. With its production capacities of 1.2 million cubic meters of bioethanol per year, CropEnergies produces bioethanol which predominantly replaces petrol in four modern production facilities in Germany, Belgium, the UK, and France. The highly efficient production facilities reduce CO2 emissions by up to 70 percent across the whole value-added chain compared to fossil fuel. With the production sites, the unique logistics network in Europe as well as trading offices in the USA and Brazil, CropEnergies is one of the leading companies in a major emerging market.
At the same time, CropEnergies is an important producer of food and animal feed products. The raw materials which are used such as cereals and sugar beets are completely utilized. As a result, more than 1 million tonnes of high-quality protein food and animal feed products are manufactured every year out of the non-fermentable components of the raw materials.
Through advanced technology and innovation CropEnergies contributes to ensure a sustainable mobility from renewable sources today and in the future through its main product bioethanol: mobility - sustainable. renewable.
The CropEnergies AG stock (ISIN DE000AOLAUP1) has been listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange since 2006.
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