Press

Press release 18.05.2016

TEASER
18. 05.2016
CropEnergies concludes excellent financial year 2015/16
In the financial year 2015/16 (1 March 2015 - 29 February 2016), CropEnergies AG, Mannheim, has achieved excellent results. While revenues decreased as expected due to a lower bioethanol production to EUR 723 (previous year: EUR 827) million, significantly higher prices for bioethanol as well as slightly increased prices for the food and animal feed products multiplied EBITDA to EUR 122 (previous year: 25) million. Operating profit reached EUR 87 (previous year: EUR -11) million. Based on revenues, operating margin improved to 12.0 (previous year: -1.4) percent.

CropEnergies concludes excellent financial year 2015/16

Mannheim, 18 May 2016 - In the financial year 2015/16 (1 March 2015 - 29 February 2016), CropEnergies AG, Mannheim, has achieved excellent results. While revenues decreased as expected due to a lower bioethanol production to EUR 723 (previous year: EUR 827) million, significantly higher prices for bioethanol as well as slightly increased prices for the food and animal feed products multiplied EBITDA to EUR 122 (previous year: 25) million. Operating profit reached EUR 87 (previous year: EUR -11) million. Based on revenues, operating margin improved to 12.0 (previous year: -1.4) percent.
Due to the temporary closure of the production plant in Wilton, UK, bioethanol production decreased to 837,000 (previous year: 1,056,000) cubic meters. The volume of food and animal feed products also decreased. Bioethanol sales reached 997,000 (previous year: 1,283,000) cubic meters of which 178,000 (previous year: 229,000) cubic meters were trading volumes.
In the last financial year, CropEnergies put the focus on optimizing results. In addition to further expanding the neutral alcohol business with the new production facility in Zeitz, this strategy was successfully carried out by an active capacity management. Considerably fluctuating bioethanol prices, which could not entirely disconnect from the drop of the oil prices, proved this strategy right.
The CropEnergies executive board has decided to start up the bioethanol plant in Wilton for a trial run starting in July 2016 at the latest. The plant has been temporarily closed since February 2015. During this time, numerous technical modifications have been carried out to improve the reliability and energy efficiency of the plant. These improvements are to be intensively tested now.
In its meeting on 17 May 2016, the supervisory board has decided to follow the executive board's recommendation for this year's dividend. Supervisory board and executive board will propose to the annual general meeting on 12 July 2016 to pay a dividend of EUR 0.15 (previous year: EUR 0.00) per share. On a basis of the issued 87.25 million shares, this results in a total dividend distribution of EUR 13.1 (previous year: EUR 0.0) million.
For the financial year 2016/17, CropEnergies expects revenues of EUR 625 to EUR 700 million. Against a background of stable sales volumes and bioethanol prices which are good, but lower than the previous year, CropEnergies expects an EBITDA, adjusted for special items, of between EUR 65 and EUR 105 million for the financial year 2016/17. Operating profit is expected in the range of EUR 30 and EUR 70 million.
In the mid-term, CropEnergies expects the decision of the climate summit in Paris and the EU resolutions for the increase of the share of renewable energies in the transport sector to lead to market growth. As one of the leading producers in Europe and due to the flexibility and capacity of its plants, CropEnergies is well positioned for the corresponding increase in demand.
The full annual report for the financial year 2015/16 is available for download on the CropEnergies homepage.
CropEnergies AG
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 SŁdzucker Group is one of the leading European manufacturers of sustainably produced bioethanol for the fuel sector today. With its production capacities of 1.3 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, Brazil, and Chile, 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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