Fiscal year 2014/15
Ad hoc announcement pursuant to Section 15 of the German Securities Trading Act (WpHG)
CropEnergies temporarily pausing production at Ensus. One-off costs of up to EUR 40 million expected
CropEnergies AG, Mannheim, temporarily pausing production of its English subsidiary Ensus UK, Wilton. This decision has been made due to the current difficult situation in the European bioethanol market which the dramatic drop of oil prices in the last few months has exacerbated. Bioethanol prices reached an all-time low of EUR 417 per cubic meter FOB Rotterdam on 15 January 2015. The devaluation of the euro compared to the British pound was an additional burden. The drawn-out political process in the EU to also increase the percentage of renewable energies in the transport sector compared to today is not conductive either. The production facility was brought off line a few days ago for cleaning and inspection. CropEnergies' other plants in Germany, Belgium and France are running at high capacity utilization despite the difficult market conditions and thus prove their leading technological position and competitiveness.
Significant production increase at CropEnergies in first nine months of business year
The revenues of CropEnergies AG, Mannheim, increased by 9.4 percent compared to the previous year to EUR 626 (previous year: 573) million in the first three quarters of the financial year 2014/15. Besides the significantly increased production, the expansion of the trading activities also contributed to the growth.
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