2nd quarter with higher revenues and decrease in earnings
Mannheim, 15 September 2021, 12:00 CET/CEST - CropEnergies AG, Mannheim, increases its outlook for the current financial year 2021/22 (1 March 2021 - 28 February 2022) and now expects revenues for the full financial year in a range of EUR 970 to EUR 1,010 (previously expected: EUR 925 to EUR 975) million.
Operating profit is expected to reach EUR 65 to EUR 90 (previously expected: EUR 50 to EUR 80) million, EBITDA between EUR 105 and EUR 135 (previously expected: EUR 90 to EUR 125) million. The main reason for the improved revenue and earnings expectation is the significant increase in ethanol sales prices. The introduction of E10 in Sweden in August 2021 and in the UK in September 2021 has recently led to higher demand.
In the 2nd quarter of the current financial year 2021/22, CropEnergies achieved revenues that increased to EUR 249.2 (previous year: EUR 228.5) million, according to preliminary figures. Operating profit, however, could not match the record level of the previous year’s period and reached EUR 23.3 (previous year: EUR 42.6) million. The significantly higher net raw material cost and the recent rise of energy prices to record levels were the main burdens on the results.
The full report for the 1st half of 2021/22 will be published on 13 October 2021.
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.