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CropEnergies with record result in financial year 2020/21

Mannheim, 05/19/2021 Company news

Mannheim, 19 May 2021 – CropEnergies AG, Mannheim, generated revenues of EUR 833 (previous year: EUR 899) million in the 2020/21 financial year and an operating profit of EUR 107 (previous year: EUR 104) million, despite the challenging market environment. EBITDA adjusted for special items rose to EUR 148 (previous year: EUR 146) million. Despite the extended maintenance shutdown in Wanze at the beginning of the 2020/21 financial year due to the pandemic, ethanol production of 987 (previous year: 1,002) thousand cubic metres was roughly at the previous year's level.

At its meeting on 17 May 2021, the supervisory board decided to follow the executive board's recommendation and propose to the annual general meeting a dividend of EUR 0.35 (previous year: EUR 0.30) per share for the 2020/21 financial year. The annual general meeting will be held in virtual form on 13 July 2021.

In the course of the 2021/22 financial year, CropEnergies assumes a normalisation of mobility behaviour and an increase in demand for climate-friendly fuels, and thus also a high demand for renewable ethanol. Revenues are therefore expected to be higher than the previous year at between EUR 870 and EUR 920 (previous year: EUR 833) million. EBITDA is expected to be between EUR 90 and EUR 125 (previous year: EUR 148) million, while operating profit is expected to be between EUR 50 and EUR 80 (previous year: EUR 107) million. The main reason for the reduction in the result compared to the previous year is the significant increase in prices for raw materials in the meantime. In addition, the developments of the third Corona wave in the EU continue to cause ongoing uncertainty in all markets.

CropEnergies assumes that the trend towards sustainability – in mobility but also in other areas of daily life – will become increasingly important. The company is taking this into account in its further developed strategy. In the future, the focus will no longer be solely on mobility and fuel substitutes, but will be expanded to include other business areas – innovations from biomass. These include, for example, sustainable ethanol downstream products, the increased use of biogenic CO2 from fermentation, or new protein products for the food and animal feed industries. In addition, CropEnergies is investing in climate-neutral production. In a first step, up to EUR 75 million are to be invested over the next four years in order to save greenhouse gases at all locations. This consistent further development of the company is reflected in the new appearance of CropEnergies and the new logo.

CropEnergies AG

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.