Press release 22.09.2015
Ad hoc announcement pursuant to Section 15 of the German Securities Trading Act (WpHG)
CropEnergies once more increases outlook for financial year 2015/16 after successful 1st half
Mannheim, 22 September 2015 - As expected, the revenues of CropEnergies AG, Mannheim, have decreased slightly to EUR 390 (previous year: EUR 405) million in the 1st half of the financial year 2015/16 (1 March - 31 August 2015). However, operating profit reached EUR 40 (previous year: EUR -4) million which was the best result of a 1st half in CropEnergies' history. The main reason for the increase in earnings were significantly higher bioethanol prices in Europe. Improvements in the cost structure due to the pause in production of the plant in Wilton, UK, have also contributed to better results. After taking into consideration restructuring results of EUR -9 (previous year: EUR 0) million, the income from operations reached EUR 31 (previous year: EUR -5) million.
Following improved price levels in the European bioethanol market, CropEnergies noticeably increases its outlook for the full financial year 2015/16 once more and now expects an operating profit (before restructuring costs and special items) in the range of EUR 50 to EUR 70 (previous year: EUR-11 million. Revenues are expected to decrease compared to the previous year, reaching between EUR 700 and EUR 750 (previous year: EUR 827) million.
The full report for the 1st half 2015/16 will be published on 8 October 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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