Higher dividend after successful 2011/12 business year
Mannheim, 10 July 2012 - CropEnergies AG, Mannheim, continued to grow dynamically in the 1st quarter of the 2012/13 financial year (1 March 2012 - 28 February 2013).
Driven by the growth in bioethanol sales revenues were up 22 percent to EUR 160.5 million (previous year: EUR 132.1 million). Despite the higher cost of raw materials, EBITDA at EUR 22.8 million (previous year: EUR 23.0 million) almost reached the same record level as in the previous year. Operating profit, too, was only just below the record level achieved in the previous year at EUR 14.9 million (previous year EUR 15.3 million). Thanks to the significant improvement in the financial result, CropEnergies increased its net earnings in the 1st quarter of 2012/13 to EUR 9.8 million (previous year EUR 9.7 million). Net financial debt was significantly reduced by EUR 33.8 million in the 1st quarter to EUR 124.6 million.
Bioethanol production increased by 22 percent in the 1st quarter of 2012/13 to 192,000 m3 (previous year: 157,000 m3). This growth in production was due to the improved capacity utilisation at all three production sites.
CropEnergies continues to expect revenues to grow to more than EUR 600 million for the financial year 2012/13. Despite higher raw material costs, operating profit should reach more than EUR 50 million again, and thus be close to the previous year's record.
In Germany, E10 is continuing to gain ground. In April 2012, the new petrol fuel reached a market share of over 15 percent for the first time. Owing to the growth in E10 sales, demand for bioethanol in Germany also rose significantly. Between January and April 2012 around 513,000 m3 of bioethanol were sold for use as fuel. This represents a 14.6 percent increase over the same period last year.
The full report for the 1st quarter of 2012/13 can be downloaded from the company's website at www.cropenergies.com.
Ensuring mobility in a climate friendly way - today and in the future - is CropEnergies' business. Founded in Mannheim, Germany, in 2006, the young and dynamically growing member of the Südzucker Group is one of the leading European manufacturers of sustainably produced bioethanol for the fuel sector today. With its three modern production facilities in Germany, Belgium, and France as well as trading offices in the USA and Brazil, CropEnergies produces approximately 700,000 cubic meters of bioethanol per year. They mainly replace petrol and reduce CO2 emissions by up to 70 percent. With this, CropEnergies has established itself successfully as a bioethanol pioneer in a major emerging market.
In addition to the efficient production of bioethanol, CropEnergies is mainly characterized by the innovative co-product concept: The raw materials which are used such as cereals and sugar beets are completely utilized. As a result, 500,000 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 stock (ISIN DE000AOLAUP1) has been listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange since 2006.