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Record result in the 3rd quarter
Mannheim, 12 January 2022 – In the first nine months of the 2021/22 financial year (1 March 2021 – 28 February 2022), CropEnergies AG, Mannheim, generated revenues of EUR 781 (previous year: EUR 625) million. The main reason for this were higher volumes and selling prices for virtually all products.
Earnings also improved accordingly despite significantly higher raw material and energy prices. EBITDA rose to EUR 125 (previous year: EUR 109) million, while the operating profit reached EUR 94 (previous year: EUR 79) million.
In the 3rd quarter, CropEnergies generated the highest quarterly revenues in the company's history to date, exceeding the EUR 300 million mark for the first time. This was due in particular to the ethanol sales prices achieved, which reached a historic record level in the course of the quarter. As revenues for protein food and animal feed products also increased, the high raw material and energy costs were more than offset. As a result, EBITDA improved to EUR 66 (previous year: EUR 39) million. Operating profit almost doubled to EUR 56 (previous year: EUR 29) million.
Ethanol production in the first three quarters of 2021/22 increased compared to the previous year to 778,000 (previous year: 735,000) cubic meters. Food and animal feed production also increased compared to the previous year.
For the full financial year, CropEnergies continues to expect revenues in a range of EUR 1,070 to EUR 1,110 (previous year: EUR 833) million, operating profit of EUR 110 to EUR 140 (previous year: EUR 107) million and EBITDA of EUR 150 to EUR 185 (previous year: EUR 148) million. This expectation is based on the assumption that there will be no significant mobility restrictions despite the increasing spread of the Omicron variant and possible further Corona variants in Europe.
The full report for the first nine months of the financial year 2021/22 is available for download on the CropEnergies website.
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.