Press release 19.06.2017
Insider information publication according to section 17 MAR
CropEnergies increases forecast after strong 1st quarter 2017/18
Mannheim, 19 June 2017 - CropEnergies AG, Mannheim, has - according to preliminary results - increased revenues and results significantly in the 1st quarter of the current financial year 2017/18 (1 March 2017 - 28 February 2018). Revenues increased by 38 percent to EUR 231 (previous year: EUR 168) million, while operating profit improved by 21 percent to EUR 23.5 (previous year: EUR 19.4) million.
The main reason for the improved operating profit was the high utilization of all production facilities. In the 1st quarter of the previous year, the production plant in Wilton, UK, was still temporarily shut down. Also, the realized ethanol prices were above the originally expected forward prices for the 1st quarter.
CropEnergies takes this opportunity to increase the forecast of the financial year 2017/18. Revenues are expected in a range of EUR 850 and EUR 900 (previous forecast: EUR 800 to EUR 875) million while operating profit is expected to reach between EUR 50 and EUR 90 (previous forecast: EUR 40 to EUR 80) million.
The full report for the 1st quarter 2017/18 will be published on 12 July 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 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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