CropEnergies with EUR 0.25 dividend
Mannheim, 17 July 2018 - The shareholders of CropEnergies AG, Mannheim, will receive a dividend of EUR 0.25 (previous year: 0.30) per share entitled to dividend. At today’s annual general meeting, they approved the dividend proposal of the supervisory board and the executive board by a large majority. The total dividend payout amounts to EUR 21.8 million. All other agenda items were also adopted by a majority of more than 99 percent. Around 700 shareholders and guests attended the annual general meeting in the Congress Center Rosengarten in Mannheim. Overall, 82 percent of the share capital was represented.
In addition to the annual financial statement for 2017/18, shareholders were particularly interested in developments in the current 2018/19 financial year. Following record revenues of EUR 882 million in the last financial year, CropEnergies had started the 1st quarter of 2018/19 below average. The main reason for this were significantly lower ethanol prices this year. However, CropEnergies expects them to improve gradually over the course of the year.
The annual general meeting also placed particular focus on the new political conditions and targets for renewable energies in the EU. On 14 June 2018, the negotiators of the European Parliament, Council and Commission had agreed to increase the minimum share of renewable energies in transport from 10 percent in 2020 to 14 percent in 2030. This objective can also be achieved by continuing to use renewable fuels from locally cultivated biomass. In the medium term, the decision should have a positive impact on demand for alternative fuels and create new perspectives for both the European biofuels industry and the environment. The precondition for this is a rapid and targeted implementation in the member states. Thanks to its know-how and experience, CropEnergies is well positioned to make mobility even cleaner in the future with sustainably produced renewable fuels.
Clean mobility – today and in the future – is CropEnergies’ business. Founded in Mannheim, Germany, in 2006, the member of the Südzucker Group is the leading European manufacturer of sustainably produced ethanol. With its annual production capacity of 1.3 million cubic meters in its German, Belgian, UK and French facilities, CropEnergies produces ethanol which predominantly replaces petrol. 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 produces 150,000 cubic meters of high-purity neutral alcohol which is used in the beverage, cosmetics, and pharmaceutical industry or for technical applications.
The use of local agricultural raw materials also results in more than 1 million tonnes of high-quality protein food and animal feed every year.
Through advanced technology and innovation CropEnergies contributes to ensure a sustainable mobility from renewable sources today and in the future through its main product ethanol: 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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