Insider information publication according to section 17 MAR
CropEnergies reduces outlook for financial year 2020/21 due to announcement for additional restrictions on mobility
Operating profit after nine months higher than previous year’s
Mannheim, 14 December 2020, 14:12 CET/CEST – According to preliminary figures, CropEnergies AG, Mannheim, has generated revenues of EUR 625 (previous year: EUR 668) million in the first nine months of the financial year 2020/21. EBITDA increased to EUR 109 (previous year: EUR 102) million, while operating profit reached EUR 79 (previous year: EUR 70) million.
In the forecast for the full financial year 2020/21 published on 15 September 2020, CropEnergies had expected revenues between EUR 850 and EUR 900 (previous year: EUR 899) million and an operating profit between EUR 110 and EUR 140 (previous year: EUR 104) million. This would correspond to an EBITDA of EUR 150 to EUR 180 (previous year: EUR 146) million. The prerequisite for this assumption, however, was that the robust level of ethanol demand continued and that significant restrictions on mobility in the EU did not recur. Due to the second wave of the corona pandemic and current developments and the associated restrictions, CropEnergies has to adjust its outlook and now expects revenues of EUR 825 to EUR 855 million. Operating profit is expected to reach EUR 95 to EUR 110 million. This corresponds to an EBITDA of EUR 135 to EUR 150 million.
The full report for the first nine months of the financial year 2020/21 will be published on 13 January 2021.
Sustainable products from renewable biomass are the business of CropEnergies. Founded in Mannheim in 2006, the member of the Südzucker Group is the leading European producer of sustainably produced, renewable ethanol. With a production capacity of 1.3 million cubic metres of ethanol per year, CropEnergies produces neutral and technical alcohol (ethanol) for a wide range of applications at locations in Germany, Belgium, the UK and France: from climate-friendly fuel, beverage production or cosmetic products to pharmaceutical applications, for example as a basis for disinfectants and sanitizers or as a raw material for innovative biochemicals.
Thanks to highly efficient production plants, ethanol for fuel applications reduces CO2 emissions across the entire value chain by an average of over 70 percent compared to fossil fuels. In addition, more than 1 million tonnes per year of high-quality, protein-containing food and animal feed as well as biogenic carbon dioxide, which is used in beverage production, among other things, are produced from biomass.
CropEnergies AG (ISIN DE000A0LAUP1) is listed on the Frankfurt Stock Exchange in the regulated market (Prime Standard).
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