Press release 08.07.2015
CropEnergies with successful 1st quarter 2015/16
Mannheim, 8 July 2015 - CropEnergies AG, Mannheim, was able to significantly improve its earnings situation in the 1st quarter of the financial year 2015/16 (1 March - 31 May 2015). Even though revenues decreased slightly to EUR 198 (previous year: EUR 208) million, EBITDA increased significantly to EUR 22 (previous year: EUR 13) million. Operating profit rose to approximately EUR 14 (previous year: EUR 5) million. This corresponds to an operating margin of 7 (previous year: 2) percent.
The main reasons for this encouraging development are the higher bioethanol prices in Europe, lower raw material prices and a cost structure which has improved due to the production pause of the bioethanol plant at Wilton, UK. As a result of the temporary production pause of the plant, bioethanol production in the 1st quarter 2015/16 decreased to 205,000 (previous year: 262,000) cubic meters and restructuring costs and special items of EUR 5 (previous year: EUR 0) million were incurred during the reporting period. Income from operations, as the sum of operating profit, earnings from entities consolidated at equity and restructuring costs and special items, nearly doubled to EUR 9 (previous year: EUR 4) million.
For the full financial year 2015/16, CropEnergies expects a reduction of revenues in the range of EUR 675 to EUR 725 (previous year: EUR 827) million. Operating profit (before restructuring costs and special items) is expected to range between EUR 10 and EUR 40 (previous year: EUR -11) million.
The report for the 1st quarter 2015/16 is available on the CropEnergies website.
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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