CropEnergies doubles dividend
Mannheim, 18 July 2017 - The shareholders of CropEnergies AG, Mannheim, approved by a large majority the proposal of the supervisory board and the executive board to double the dividend and distribute EUR 0.30 per share entitled to dividend. This results in a total payout of EUR 26.2 million. All other agenda items, including the reelection of the six members of the supervisory board, were also adopted by a majority of over 99 percent. Around 650 shareholders and guests attended the annual general meeting in the Congress Center Rosengarten in Mannheim. Overall, 86 percent of the share capital was represented.
Aside from the results of the financial year 2016/17, shareholders at the annual general meeting were particularly interested in the developments in the company in the current financial year 2017/18 and the current discussion about the political framework and targets for biofuels in the EU until 2030. In the EU, renewable energies in the transport sector already prevent approximately 35 million tonnes of greenhouse gas emissions annually. Biofuels are the most important renewable energy source in transport. If the EU wants to reach its targets for climate protection and energy in the transport sector, it can only be done with biofuels. Against this background, CropEnergies believes it is necessary that crop-based biofuels will be allowed to contribute to the protection of the environment and climate on Europe's roads.
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 the leading European manufacturer 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 approximately 70 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 DE000A0LAUP1) has been listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange since 2006.
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