CropEnergies with another record result in financial year 2022/23
Mannheim, 16 March 2023, 16:45 CEST – The executive board of CropEnergies AG, Mannheim, has decided – subject to a corresponding resolution by the supervisory board (expected on 22 May 2023) – to propose to the annual general meeting a dividend of EUR 0.60 (previous year: 0.45) per share for the financial year 2022/23 (1 March 2022 – 28 February 2023). The annual general meeting will take place on 11 July 2023.
According to preliminary figures, CropEnergies AG has generated the best results since the foundation of the company. Revenues increased significantly compared to the previous year and reached approximately EUR 1,488 (previous year: EUR 1,075) million. Operating profit also improved and reached approximately EUR 249 (previous year: EUR 127) million and EBITDA approximately EUR 292 (previous year: EUR 169) million. The reasons for the record result were, on the one hand, the high ethanol sales prices, especially in the 1st half of the financial year, and, on the other hand, price hedging for raw materials and energy, that had already been entered into prior to the start of the Ukraine war and the associated sharp rise in raw material and energy prices.
The full report for the financial year 2022/23 will be published on 24 May 2023.
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 percent 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.