Mannheim, 8 May 2012 - CropEnergies AG, Mannheim, achieved record levels of production, revenues, and operating profit in the 2011/12 financial year.
Revenues were up 21 percent to EUR 572.1 (previous year: 472.8) million. EBITDA also reached a new record level of EUR 84.3 (previous year: 76.3) million, and operating profit improved by 15 percent to EUR 53.0 (previous year: 45.9) million. Net financial debt was reduced appreciably as of 29 February 2012 to EUR 158.4 (previous year: 195.0) million. The growth in revenues and earnings was mainly driven by higher average selling prices for bioethanol as well as higher production and sales volumes, and better selling prices, of the protein food and animal feed products.
CropEnergies increased the volume of bioethanol produced in the 2011/12 financial year slightly to 692,000 (previous year: 687,000) cubic metres due to higher capacity utilisation in the 2nd half of 2011/12. The volume of dried food and animal feed products rose more than proportionally by 8.0 percent to 328,000 (previous year: 303,000) tonnes.
At its meeting on 7 May 2012 the supervisory board followed the executive board's recommendation to propose to the Annual General Meeting on 17 July 2012 an increased dividend of EUR 0.18 (previous year: 0.15) per share owing to the improved earnings situation. This represents a total dividend payout of EUR 15.3 (previous year: 12.8) million.
CropEnergies expects continued growth in the 2012/13 financial year, with revenues rising to over EUR 600 million. While average selling prices for bioethanol will still remain impaired by subsidised imports from the USA in the first months of the financial year, CropEnergies expects bioethanol prices to pick up in the further course of the year. Assuming that raw material prices remain stable at the present level, after a modest start operating profit should reach over EUR 50 million again, and thus approximate the record result for the 2011/12 financial year.
The full annual report for 2011/12 can be downloaded from the company's website at www.cropenergies.com.
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.
In addition to the efficient production of bioethanol, CropEnergies is mainly characterized by the innovative co-product concept: 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.