Insider information publication according to section 17 MAR
CropEnergies raises outlook for current financial year 2018/19 – 3rd quarter however below previous year's level
Mannheim, 14 December 2018 – Due to unexpectedly strong increases in ethanol prices in Europe in the last few weeks, CropEnergies AG, Mannheim, increases its outlook for the 2018/19 financial year. While the ethanol price was quoted at around € 475/m³ in mid-October, it rose to around € 615/m³ by mid-December. Price changes are directly reflected in the results.
For the full financial year 2018/19 (1 March 2018 – 28 February 2019), CropEnergies now expects revenues of EUR 770 to EUR 800 (previously expected: EUR 750 to EUR 780) million and an EBITDA of EUR 65 to EUR 80 (previously expected: EUR 55 to EUR 75) million. Operating profit is expected to reach EUR 25 to EUR 40 (previously expected: EUR 15 to EUR 35) million.
CropEnergies generated revenues of EUR 202.9 (previous year: EUR 219.1) million in the 3rd quarter of the current financial year, according to preliminary figures. EBITDA amounted to EUR 14.8 (previous year: EUR 21.7) million, while operating profit reached EUR 5.0 million. In the same quarter of the previous year, EUR 12.0 million were achieved. The main reason for the decline in earnings are the higher raw material costs compared to the previous year.
The full report for the first nine months of the financial year 2018/19 will be published on 9 January 2019.
Clean mobility – 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 ethanol. With its annual production capacity of 1.3 million cubic meters in its German, Belgian, UK and French facilities, CropEnergies produces ethanol which predominantly replaces petrol. 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 produces 150,000 cubic meters of high-purity neutral alcohol which is used in the beverage, cosmetics, and pharmaceutical industry or for technical applications.
The use of local agricultural raw materials also results in more than 1 million tonnes of high-quality protein food and animal feed every year.
Through advanced technology and innovation CropEnergies contributes to ensure a sustainable mobility from renewable sources today and in the future through its main product ethanol: mobility – sustainable. renewable.
The CropEnergies AG (ISIN DE000A0LAUP1) is listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange.
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