Press release 13.02.2017
Insider information publication according to section 17 MAR
CropEnergies increases forecast for financial year 2016/17 once more
After record year 2016/17, normalization expected for 2017/18
Mannheim, 13 February 2017 - CropEnergies AG, Mannheim, once more increases its forecast for the current financial year 2016/17 (1 March 2016 - 28 February 2017). The main reasons for the better earnings situation are the spot prices for bioethanol which continue to be significantly higher than the previously expected forward prices as well as the high capacity utilization in all four production plants. With this, CropEnergies strengthens its position as leading bioethanol producer in the EU. For the full financial year 2016/17, CropEnergies now expects revenues of EUR 800 to EUR 810 (previously expected: EUR 760 to EUR 790, previous year: EUR 723) million. Operating profit is to reach EUR 95 to EUR 100 (previously expected: EUR 70 to EUR 85, previous year: EUR 87) million. At the same time, CropEnergies expects a record EBITDA of approximately EUR 130 to EUR 135 (previous year: EUR 122) million.
The business performance in the coming financial year 2017/18 will again be largely dependent on the volatile developments of the prices on bioethanol markets. The forward prices for bioethanol in Europe currently show a significant reduction for the financial year 2017/18, though they have only limited significance. Against this background and on the basis of current grain prices, CropEnergies expects a normalization of the operating profit for the financial year 2017/18 to a range of EUR 40 to EUR 80 million. This corresponds to an EBITDA between EUR 80 and EUR 120 million. Consequently, CropEnergies should be completely debt-free for the first time in company history.
The annual report for the financial year 2016/17 will be published on 17 May 2017.
Ensuring mobility in a climate friendly way - today and in the future - is CropEnergies' business. Founded in Mannheim, Germany, in 2006, the member of the Südzucker Group is one of the leading European manufacturers of sustainably produced bioethanol today. With its annual capacity of 1.3 million cubic meters of bioethanol, CropEnergies produces bioethanol which predominantly replaces petrol in four modern production facilities in Germany, Belgium, the UK, and France. 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 also produces 150,000 cubic meters of high-purity neutral alcohol which is used in the cosmetics, pharmaceutical, and beverage industry or for technical applications. At the same time, CropEnergies is an important 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, more than 1 million 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 (ISIN DE000A0LAUP1) is listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange.
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