Press release 09.10.2012
CropEnergies continues growth of revenues and earnings in 1st half of 2012/13
Mannheim, 9 October 2012 - The group revenues of CropEnergies AG, Mannheim, have reached a new record level in the 1st half of the financial year 2012/13 (1 March 2012 to 31 August 2012) with an increase of 16 percent to EUR 319.9 (previous year: 275.2) million. The EBITDA grew by 19 percent to EUR 53.2 (previous year: 44.5) million. This is equivalent to a margin of 16.6 (previous year: 16.2) percent. The operating profit improved more than proportionally by 28 percent to 37.2 (previous year: 29.0) million and reached an operating margin of 11.6 (previous year: 10.5) percent. Since 29 February 2012, CropEnergies has reduced the net financial debt by EUR 37.3 million to EUR 121.1 million in spite of the dividend payout in July 2012.
The main reason for the gratifying result is the integrated production concept. With every tonne of bioethanol for the fuel sector, CropEnergies produces one tonne of food and animal feed. CropEnergies not only produces bioethanol, a renewable fuel which saves large amounts of greenhouse gases, but supplies the food sector with high-quality vegetable proteins at the same time. The contribution to revenues of these products and other high-quality products was approx. EUR 100 million in the 1st half of the financial year 2012/13. Due to the increased bioethanol production in the 1st half of 2012/13, the thus increased sales and higher sales revenues for bioethanol, CropEnergies' revenues and profits grew further.
In the 1st half of the current financial year 2012/13, CropEnergies produced 380,000 (previous year: 306,000) cubic meters of bioethanol, which represents an increase of 24 percent. Capacity utilisation was increased in the course of optimisations which were successfully carried out. In addition to this, CropEnergies raised the amount of sugar syrups from industrial beets that were used.
For the financial year 2012/13 CropEnergies expects a continuation of the company's profitable growth. Due to the good progress of the 1st half of the financial year 2012/13, the increased capacity utilisation as well as the high contribution to revenues from the food and animal feed products, CropEnergies expects revenues to grow to EUR 610 to 630 (previous year: 572) million in the financial year 2012/13. At the same time, operating profit is expected to improve to EUR 62 to 68 (previous year: 53) million.
The full report for the 1st half of 2012/13 can be downloaded here.
Ensuring mobility in a climate friendly way - today and in the future - is CropEnergies' business. Founded in Mannheim, Germany, in 2006, the young and dynamically growing member of the Südzucker Group is one of the leading European manufacturers of sustainably produced bioethanol for the fuel sector today. With its three modern production facilities in Germany, Belgium, and France as well as trading offices in the USA and Brazil, CropEnergies produces approximately 700,000 cubic meters of bioethanol per year. They mainly replace petrol and reduce CO2 emissions by up to 70 percent. With this, CropEnergies has established itself successfully as a bioethanol pioneer in a major emerging market.
At the same time, CropEnergies is a major 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, 500,000 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 stock (ISIN DE000AOLAUP1) has been listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange since 2006.
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