Insider information publication according to section 17 MAR
CropEnergies with excellent 2nd quarter
Outlook for full financial year increased significantly
Mannheim, 15 September 2020, 12:12 CET/CEST - According to preliminary figures, CropEnergies AG, Mannheim, has generated revenues of EUR 229 (previous year: EUR 245) million in the 2nd quarter 2020/21. EBITDA grew to EUR 52 (previous year: EUR 39) million, while the operating profit reached EUR 43 (previous year: EUR 29) million. The main reasons for the excellent result were a high demand for renewable ethanol and the strong increase in ethanol prices.
At the beginning of the corona crisis, CropEnergies had expected a significant reduction in revenues and operating profit in the current financial year. Now, it expects revenues between EUR 850 and EUR 900 (previous year: EUR 899) million and an operating profit between EUR 110 to EUR 140 (previous year: EUR 104) million. This corresponds to an EBITDA of EUR 150 to EUR 180 (previous year: EUR 146) million. The prerequisite for this positive development, however, is that the robust level of ethanol demand continues and that significant restrictions on mobility in the EU do not recur in the course of the financial year.
The full report for the 1st half of the financial year 2020/21 will be published on 7 October 2020.
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).
|© CropEnergies AG|