3rd quarter is expected to be significantly above 2nd quarter of current financial year
Mannheim, 18 October 2023, 13:00 CEST – CropEnergies AG, Mannheim, expects a significant reduction in revenues, EBITDA and operating profit also in the 3rd quarter of the financial year 2023/24 (1 September – 30 November 2023) compared to the previous year.
In the same quarter of the previous year, CropEnergies had achieved an above-average result due to exceptional framework conditions. Revenues in the same quarter of the previous year amounted to EUR 328 million, the operating profit reached EUR 56 million and EBITDA was EUR 66 million. The main reason for the expected drop in earnings are the – compared to the high price level of the same quarter of the previous year – normalised prices for sustainably produced ethanol.
The result for the 3rd quarter of the current financial year, however, is expected to be significantly above that of the 2nd quarter.
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.