Significant increase in revenues and earnings expected
Mannheim, 28 October 2021, 14:45 CET/CEST – CropEnergies AG, Mannheim, is again raising its outlook for the current financial year 2021/22 (1 March 2021 - 28 February 2022) and now expects revenues in a range of EUR 1,020 to EUR 1,070 (previously expected: EUR 970 to EUR 1,010, previous year: EUR 833) million for the full financial year.
Operating profit is expected to be significantly higher than previously expected and is now to reach EUR 95 to EUR 125 (previously expected: EUR 65 to EUR 90, previous year: EUR 107) million. EBITDA is expected to be in a range of EUR 135 to EUR 170 (previously expected: EUR 105 to EUR 135, previous year: EUR 148) million.
The main reason for the improved revenue and earnings expectations is the significant increase in ethanol sales prices, especially in the last two weeks. Due to a low availability of ethanol on the European spot market, daily prices recently reached a record level of over EUR 1,000/m3. The price quotations for futures contracts also increased significantly during this period. At the same time, raw material and energy prices stabilised at a high level.
Sustainable, renewable products made from biomass – that is what CropEnergies stands for. Our products contribute to a climate-friendly world and ensure that fossil carbons remain in the ground permanently and do not continue to drive climate change.
Founded in Mannheim in 2006, the member of the Südzucker Group is the leading European producer of renewable ethanol. With a production capacity of 1.3 million m3 of ethanol per year, CropEnergies produces neutral alcohol as well as technical alcohol (ethanol) for a wide range of applications at locations in Germany, Belgium, the UK, and France: Sustainably produced ethanol as a petrol substitute is an answer to the future challenges of climate-friendly energy supply in the transport sector. Thanks to highly efficient production plants, our ethanol reduces CO2 emissions by an average of more than 70% across the entire value chain compared to fossil fuel. Our high-quality alcohol is also used in beverage production, cosmetics, pharmaceutical applications, for example as a basis for disinfectants, or as a raw material for innovative biochemicals.
Equally important are the resulting protein food and animal feed products as a sustainable regional alternative to emission-intensive protein imports from overseas, as well as biogenic carbon dioxide. It is used in beverage production, among other things, and will be a valuable raw material for a wide range of applications in transport and industry in the future. Thus, all raw material components are utilised in our circular economy.
CropEnergies AG (ISIN DE000A0LAUP1) is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange.