Press release 03.04.2007
CropEnergies AG: Good start into the new 2007/08 financial year
Mannheim, April 3, 2007 In light of advance sales to date, CropEnergies AG, Mannheim, a producer of fuels from regenerative sources specializing in bioethanol, expects further rising sales revenues and a higher operating result in the new 2007/08 financial year which began on March 1, 2007.
In the past 2006/07 financial year which ended on February 28, 2007, CropEnergies more than doubled its sales revenues to about 146 million from 60.5 million in the previous year. The operating result, before one-time expenses of roughly 2 million, reached approximately 20 million (2005/06: -18 million). This represents a margin of approximately 14%.
The expansion of capacities at the Zeitz location from 260,000 m≥ of bioethanol to 360,000 m≥ p.a. is due to be completed in spring 2008. In addition, the plant under construction in Wanze (BioWanze S.A., Belgium) and the dehydration capacities planned in northern France will help to meet the continued growth in demand for bioethanol for admixture with petrol fuel. Overall, CropEnergies expects to produce a total of 750,000 m≥ of bioethanol in the year 2009/10.
The full financial figures for the 2006/07 financial year will be published on May 15, 2007.
The CropEnergies-Group a member of the SŁdzucker-Group is an established and according to the production capacity a leading European producer of bioethanol for the fuel sector.
Crop stands for creative regeneration of power. Energy in the form of bioethanol is produced from renewable resources grain and sugar beets. With subsidiaries in Germany, France, and Belgium, the CropEnergies-Group has in just a few years established itself as a bioethanol producer in a growing market and operates todays largest bioethanol plant in Europe in Zeitz, Saxony-Anhalt, Germany. CropEnergies considers itself a pioneer on the German bioethanol market and will expand its market position in Europe. Since September 29, 2006, CropEnergies AG (ISIN DE000A0LAUP1) has been listed in the Prime Standard at the Frankfurt Stock Exchange.
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