Positive outlook - Establishment of a trading branch in the USA
Mannheim, 19 July 2011 - At the annual general meeting of CropEnergies AG, Mannheim, on 19 July 2011, the shareholders approved the proposal of the supervisory board and the executive board to triple the dividend to EUR 0.15 per share (previous year: 0.05).
The total sum paid out therefore rose to EUR 12.8 (previous year: 4.3) million. All the other motions proposed by the management were also adopted by a clear majority of over 98 percent. Around 850 shareholders and guests were present at the annual general meeting in the Rosengarten in Mannheim, representing approximately 83 percent of the capital stock.
The shareholders' interest was focused firstly on the company's strategic course and secondly on the positive outlook for the current financial year, which had already been increased on 22 June 2011. For the full financial year 2011/12, CropEnergies expects revenues to go up to EUR 520 to 570 (previous year: 473) million. Operating margin is expected to reach the previous year's level of around 10 percent.
During the annual general meeting, the executive board announced that CropEnergies intends to expand its activities in future outside the European market. For this purpose the company had begun in June 2011 to extend its international trading network with a branch in the world's biggest bioethanol market by establishing CropEnergies Inc., Houston, USA. The establishment of the new company means that CropEnergies is now present in the world's major bioethanol markets - the USA, Brazil, and Europe. Aside from trading business, the new company will optimise the supply of raw materials to the plant at Loon-Plage in France. Says executive board member Dr. Lutz Guderjahn: "By setting up the company in Houston, we will be enlarging our trading network and strengthening CropEnergies' market position. In future, we will receive information on developments on the bioethanol markets in the USA and Brazil at first hand and will be able to assess their impact on the European market earlier and more accurately." CropEnergies has been trading in Brazil since 2009.
CropEnergies - a member of the Südzucker Group - is a leading European manufacturer of sustainably produced bioethanol for the fuel industry, with an annual output of over 700,000 cubic meters of bioethanol. "Crop" stands for "creative regeneration of power": Energy in the form of bioethanol is produced from renewable resources - grain and sugar beets. CropEnergies also refines the co-products of bioethanol production into over 500,000 tonnes of high-quality food and animal feed.
CropEnergies sees itself as a pioneer in the German bioethanol market and is expanding its market position throughout Europe. With three modern production sites and two tank storage facilities, CropEnergies has an efficient production and sales network in the European growth market for renewable energies. The shares of CropEnergies AG (ISIN DE000A0LAUP1) are listed in the regulated market (Prime Standard) on the Frankfurt Stock Exchange.