Mannheim, 26 March 2018 - According to preliminary results, CropEnergies AG, Mannheim, has increased revenues by 10 percent to EUR 882 (previous year: EUR 802) million in the financial year 2017/18 (1 March 2017 - 28 February 2018).
The main reason for the increase was the ethanol production which has risen by 12 percent to 1,149,000 (previous year: 1,030,000) cubic meters. The production of protein food and animal feed products increased accordingly and has now reached a share of approx. 45 percent of the total volume produced. With EUR 72 (previous year: EUR 98) million, operating profit came out within the projected range and below the previous year's record result. Given an EBITDA of EUR 111 (previous year: EUR 135) million, net financial assets improved to EUR 37 million (previous year: net financial debt of EUR 9 million). In today's meeting, the executive board of CropEnergies AG has decided to propose a dividend of EUR 0.25 (previous year: EUR 0.30) per share for the financial year 2017/18 to the annual general meeting on 17 July 2018, subject to a respective resolution of the supervisory board (expected on 14 May 2018). This currently corresponds to a dividend yield of approx. 4 percent. For the financial year 2018/19 started on 1 March 2018, prices for sustainably produced, climate friendly ethanol are expected to be below the previous year's level. However, prices for protein food and animal feed products should remain on a high level. With revenues expected between EUR 840 and EUR 900 million, CropEnergies thus anticipates an EBITDA in a range of EUR 70 to EUR 110 million and an operating result between EUR 30 and EUR 70 million for the financial year 2018/19. The full report for the financial year 2017/18 will be published on 16 May 2018.
Ensuring mobility in a climate friendly way - today and in the future - is CropEnergies' business. Founded in Mannheim, Germany, in 2006, the member of the Südzucker Group is the leading European manufacturer of sustainably produced bioethanol today. With its production capacities of 1.3 million cubic meters of bioethanol per year, CropEnergies produces bioethanol which predominantly replaces petrol in four modern production facilities in Germany, Belgium, the UK, and France. The highly efficient production facilities reduce CO2 emissions by approximately 70 percent on average across the whole value-added chain compared to fossil fuel. In addition to fuel alcohol, CropEnergies also produces 150,000 cubic meters of high-purity neutral alcohol which is used in the beverage, cosmetics, and pharmaceutical industry or for technical applications. At the same time, CropEnergies is an important producer of food and animal feed products. The raw materials which are used such as cereals and sugar beets are completely utilized. As a result, more than 1 million tonnes of high-quality protein food and animal feed products are manufactured every year out of the non-fermentable components of the raw materials. Through advanced technology and innovation CropEnergies contributes to ensure a sustainable mobility from renewable sources today and in the future through its main product bioethanol: mobility - sustainable. renewable. The CropEnergies AG (ISIN DE000A0LAUP1) has been listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange since 2006.