Press release 14.01.2008
CropEnergies increases revenues and earnings
Mannheim, 14 January 2008 CropEnergies AG, Mannheim, one of Europes leading producers of bioethanol, has further improved revenues and earnings in the first nine months of the current financial year (1 March 2007 to 30 November 2007).
Revenues have increased by 28% to 125.7 (previous year: 98.2) million; the operating profit rose by 34% to 17.4 ( 12.9) million. This corresponds to an operating margin of 13.8% (13.1%). After deducting the preparatory costs of 3.1 (1.5) million for the plant in Wanze (Belgium) income from operations came to 14.3 (11.4) million. Net earnings for the first nine months rose by 160% from 6.3 million to 16.4 million. The revenue growth resulted from an increase in bioethanol sales due to higher bioethanol production, as well as higher average selling prices for bioethanol and the animal feed ProtiGrain®.
CropEnergies will show a positive result in the fourth quarter 2007/08 as well. Due to the hedging of the grain quantities necessary for production as well as the timely expansion of the raw material basis by sugar syrups, the negative influence of the currently high grain prices was limited. For the full 2007/08 financial year, CropEnergies expects to significantly increase revenues compared to the previous year to more than 175 ( 146.8) million. Despite the price rise on the grain markets operating profit will be in line with the previous years gratifying figure of 21.0 million.
About 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 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 29 September 2006, CropEnergies AG (ISIN DE000A0LAUP1) has been listed in the Prime Standard at the Frankfurt Stock Exchange.
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