Outlook for financial year confirmed
Mannheim, 13 July 2022, 11:35 CEST - CropEnergies AG, Mannheim, expects a significant increase in revenues, EBITDA and operating profit for the running 2nd quarter of the 2022/23 financial year (1 June to 31 August 2022). In the same quarter of the previous year, CropEnergies had generated revenues of EUR 249 million, an EBITDA of EUR 33.7 million and an operating result of EUR 23.3 million.
Furthermore, CropEnergies confirms its outlook for the full 2022/23 financial year which had been increased on 15 June 2022. Revenues are expected between EUR 1.45 and EUR 1.55 billion (previous year: EUR 1.08 billion) with an operating profit of EUR 165 to EUR 215 million (previous year: EUR 127 million). This corresponds to an EBITDA of EUR 205 to EUR 255 (previous year: EUR 169) million. The outlook is based on the assumption of a normalization of mobility behavior. The impact of the Ukraine war, however, continues to remain difficult to assess. From today's perspective, CropEnergies generally assumes that sufficient raw materials will be available for the production of renewable ethanol as well as food and animal feed products. However, the further availability and price development on the energy markets are difficult to predict at the current time and against the background of political developments. Furthermore, it is expected that the EU member states will essentially maintain their blending targets for biofuels and that this will continue to enable high capacity utilization. In addition, CropEnergies expects that increased energy and raw material costs can be at least partially offset by higher sales prices for ethanol as well as for food and animal feed products in the course of the financial year.
The report for the 1st half 2022/23 will be published on 12 October 2022.
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.