Press release 19.11.2015
Ad hoc announcement pursuant to Section 15 of the German Securities Trading Act (WpHG)
CropEnergies once more increases outlook for financial year 2015/16
Mannheim, 19 November 2015 - CropEnergies AG, Mannheim, once more significantly increases its outlook for the operating profit of the current financial year 2015/16 (1 March 2015 - 29 February 2016). The main reason for the better earnings situation are the spot prices for bioethanol which are significantly above the originally expected forward prices. For the full financial year 2015/16, CropEnergies now expects an operating profit between EUR 70 and EUR 90 million (previous year: EUR -11 million). This positive development will already be reflected in the results of the 3rd quarter 2015/16 which will be significantly higher than the previous year's.
The company's performance in the financial year 2016/17 will also be strongly dependent on the developments on the bioethanol markets. Right now, forward prices for bioethanol in Europe for the financial year 2015/16 show a significant price reduction. Based on this, CropEnergies' operating profit should decrease to approximately EUR 30 million. After the experiences of the financial year 2015/16, in which the realized spot prices were at times more than 10 percent higher than the previously quoted forward prices, CropEnergies considers an operating profit of up to EUR 70 million to be possible. Having said that and as long as grain prices remain stable, CropEnergies expects the operating profit for the coming financial year 2016/17 to remain under the excellent result for the current financial year.
The report for the 1st to 3rd quarter 2015/16 will be published on 12 January 2016.
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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