Press release 17.06.2015
Ad hoc announcement pursuant to Section 15 of the German Securities Trading Act (WpHG)
CropEnergies raises outlook for 2015/16 after good start into financial year
Mannheim, 17 June 2015 - In the 1st quarter of the current financial year 2015/16 (1 March - 31 May 2015), CropEnergies AG, Mannheim, has maintained revenues slightly below the previous year's level as expected according to preliminary figures. They reached approximately EUR 198 (previous year: 208) million. At the same time, operating profit increased significantly to approximately EUR 14 (previous year: 5) million.
The main reason for the increase in earnings was the encouraging improvement of bioethanol prices in Europe, lower raw material prices as well as improvements in the cost structure especially due to the pause in production of the plant in Wilton, UK. Outside of the operating profit, restructuring costs of EUR 5 (previous year: 0) million were incurred. Thus, the EBIT increased to EUR 9 (previous year: 5) million.
The good start into the financial year prompts CropEnergies to adjust the outlook for the full financial year 2015/15. Operating profit (before restructuring costs and special items) is now expected to be in the range of EUR 10 to EUR 40 (previous year: EUR -11) million and thus positive for the full financial year 2015/16. At the same time, the reduction in revenues following the pause in production in the British plant is expected to be less pronounced. CropEnergies expects revenues in the range of EUR 675 to EUR 725 (previous year: EUR 827) million.
The full report for the 1st quarter 2015/16 will be published on 8 July 2015.
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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