Press release 20.12.2016
Insider information publication according to section 17 MAR
CropEnergies grows in 3rd quarter and increases forecast
Mannheim, 20 December 2016 - In the first nine months of the financial year 2016/17, CropEnergies AG, Mannheim, generated revenues which, at EUR 565 (previous year: EUR 558) million, were slightly above the previous year's level. This was possible because of a jump in revenues to EUR 215 (previous year: EUR 168) million in the 3rd quarter.
Operating profit reached EUR 59 (previous year: EUR 63) million after nine months and was slightly lower than in the previous year. The 3rd quarter contributed EUR 18 (previous year: EUR 24) million to the result, which was significantly lower than in the previous year, but higher than expected.
Against the background of these positive developments, CropEnergies increases its forecast for the current financial year and now expects revenues between EUR 760 and EUR 790 (previously: EUR 670 to EUR 720) million and an operating profit in a range of EUR 70 to EUR 85 (previously: EUR 50 to EUR 80) million.
The full report for the first nine months of the financial year 2016/17 will be published on 11 January 2017.
Ensuring mobility in a climate friendly way - today and in the future - is CropEnergies' business. Founded in Mannheim, Germany, in 2006, the member of the Südzucker Group is one of the leading European manufacturers of sustainably produced bioethanol 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 more than 60 percent on average across the whole value-added chain compared to fossil fuel.
In addition to fuel alcohol, CropEnergies also produces 150,000 cubic meters of high-purity neutral alcohol which is used in the beverage, cosmetics, and pharmaceutical industry or for technical applications. 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 (ISIN DE000AOLAUP1) has been listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange since 2006.
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