Press release 15.05.2007
CropEnergies doubles turnover ? operating margin in double digits
Mannheim, 15 May 2007 ? CropEnergies AG, Mannheim, has more than doubled sales to ? 146.8 (60.5) million compared to the previous financial year (1 March 2006 - 28 February 2007). The operating profit at ? 21.0 (-13.4) million reached a margin of 14.3 (-22.1) %. Net earnings of ? 11.2 (-31.7) million and a cash flow of ? 27.1 (-16.1) million showed the positive development of the company and contribute to the ongoing investment program.
The main reason for this were the further increases in production and sales prices for bioethanol and ProtiGrain®.
Production volumes of bioethanol rose by 120% to approx. 229,000 (104,000) m³. Thus, the CropEnergies Group is one of the leading suppliers in Europe. The production volumes of the by-product ProtiGrain®, a protein-rich animal feed, increased by 125% to approx. 218,000 (97,000) t. The annual production of both products was completely sold in the previous year ? in total approx. 238,000 m³ (+96%) bioethanol and 220,000 t (+154%) ProtiGrain® were sold.
For the current financial year 2007/08, CropEnergies expects to significantly increase both production and sales of bioethanol and ProtiGrain®. Accordingly, CropEnergies expects a further significant increase in sales and operating profit.
CropEnergies invests into the growing market for bioethanol in Europe in order to continue to occupy a leading position. Currently, the capacity of the Zeitz plant (Saxony-Anhalt) is successively increased to 360,000 m³/year. At the Wanze site (Belgium), the construction of a bioethanol plant with a capacity of up to 300,000 m³/year has started. Furthermore the production of approx. 100,000 m³/year of bioethanol is planned at Dunkirk (France) from 2008/09 on by refining raw alcohol into fuel ethanol. Production capacities of the CropEnergies Group are expected to reach up to 750,000 m³ in the financial year 2009/10.
The CropEnergies AG
The CropEnergies-Group ? a member of the Südzucker-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 established itself as a bioethanol producer in a growing market in just a few years and it operates today?s 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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