DGAP-News: CropEnergies AG / Key word(s): Half Year Results/Quarter
Results
CropEnergies increases operating profit significantly - Outlook for
full financial year 2015/16 increased once more
08.10.2015 / 07:00
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Mannheim, 8 October 2015 - The revenues of CropEnergies AG, Mannheim,
decreased slightly to EUR 390 (previous year: EUR 405) million in the 1st
half of the financial year 2015/16 (1 March - 31 August 2015), as expected.
However, EBITDA increased to EUR 57 (previous year: EUR 13) million due to
higher sales prices, lower raw material costs, and an improved cost
structure. Operating profit also improved considerably to EUR 40 (previous
year: EUR -4) million. The operating margin reached 10 percent. Income from
operations, as the sum of operating profit, earnings from entities
consolidated at equity and special items, rose to EUR 31 (previous year:
EUR -4) million.
CropEnergies produced 422,000 (previous year: 478,000) m³ of bioethanol in
the 1st half. The decrease in production was mainly due to the temporary
standstill of the plant in Wilton, UK. With the reduced bioethanol
production, the production of food and animal feed products also decreased
in the reporting period.
CropEnergies had already raised the forecast for the financial year 2014/15
on 22 September 2015 due to the improved price levels in the European
bioethanol market and now expects an operating profit (before restructuring
costs and special items) between EUR 50 and EUR 70 (previous year: -11)
million. Revenues are expected to range between EUR 700 and EUR 750
(previous year: EUR 827) million.
The EU decisions to raise the share of renewable energies in the transport
sector should lead to a further market growth in the mid-term, especially
since bioethanol is among the best, cleanest and cheapest alternatives to
fossil fuel which are available today. The increase of blending quotas on
an EU level should therefore lead to the introduction of E10 in additional
member states. As one of the leading producers in Europe and due to the
flexibility and capacity of its plants, CropEnergies is well prepared for
the corresponding increase in demand.
The report for the 1st half 2015/16 is available for download on the
CropEnergies website.
CropEnergies AG
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 production capacities of 1.2 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 up to 70 percent across the whole value-added chain compared
to fossil fuel. With the production sites, the unique logistics network in
Europe as well as trading offices in the USA and Brazil, CropEnergies is
one of the leading companies in a major emerging market.
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 stock (ISIN DE000AOLAUP1) has been listed at the
regulated market (Prime Standard) at the Frankfurt Stock Exchange since
2006.
Contact:
Heike Baumbach
Investor Relations
Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-03
ir@cropenergies.de
Nadine Dejung
Public Relations / Marketing
Tel.: +49 (621) 71 41 90-65
Fax: +49 (621) 71 41 90-04
presse@cropenergies.de
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08.10.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: CropEnergies AG
Maximilianstr. 10
68165 Mannheim
Germany
Phone: +49 (0)621-71 41 90 00
Fax: +49 (0)621-71 41 90 04
E-mail: info@cropenergies.de
Internet: www.cropenergies.com
ISIN: DE000A0LAUP1
WKN: A0LAUP
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News Service
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400669 08.10.2015
DGAP-News: CropEnergies increases operating profit significantly - Outlook for full financial year 2015/16 increased once more
| Source: EQS Group AG