Mannheim, 14 January 2008 CropEnergies AG, Mannheim, one of Europe?s leading producers of bioethanol, has further improved revenues and earnings in the first nine months of the current financial year (1 March 2007 to 30 November 2007).
Revenues have increased by 28% to ? 125.7 (previous year: ? 98.2) million; the operating profit rose by 34% to ? 17.4 (? 12.9) million. This corresponds to an operating margin of 13.8% (13.1%). After deducting the preparatory costs of ? 3.1 (1.5) million for the plant in Wanze (Belgium) income from operations came to ? 14.3 (11.4) million. Net earnings for the first nine months rose by 160% from ? 6.3 million to ? 16.4 million. The revenue growth resulted from an increase in bioethanol sales due to higher bioethanol production, as well as higher average selling prices for bioethanol and the animal feed ProtiGrain®.
CropEnergies will show a positive result in the fourth quarter 2007/08 as well. Due to the hedging of the grain quantities necessary for production as well as the timely expansion of the raw material basis by sugar syrups, the negative influence of the currently high grain prices was limited. For the full 2007/08 financial year, CropEnergies expects to significantly increase revenues compared to the previous year to more than ? 175 (? 146.8) million. Despite the price rise on the grain markets operating profit will be in line with the previous year?s gratifying figure of ? 21.0 million.
The CropEnergies AG
The CropEnergies Group - a member of the Südzucker Group - is an established leading European producer of bioethanol for the fuel sector.
Crop stands for creative regeneration of power. Energy in the form of bioethanol is produced from renewable resources, grain and sugar beets. With subsidiaries in Germany, France, and Belgium, CropEnergies has established itself as a bioethanol producer in a growing market in just a few years and it operates todays largest bioethanol plant in Europe in Zeitz, Saxony-Anhalt, Germany. CropEnergies considers itself a pioneer on the German bioethanol market and expands its market position in Europe. The shares of CropEnergies AG (ISIN DE000A0LAUP1) are listed in the Prime Standard at the Frankfurt Stock Exchange.