DGAP-Ad-hoc: CropEnergies AG / Key word(s): Quarter Results/Change in Forecast
CropEnergies starts into financial year 2019/20 with a strong 1st quarter
Mannheim, 14 June 2019 - CropEnergies AG, Mannheim, has, according to preliminary results, generated revenues of EUR 203 (previous year: EUR 192) million in the 1st quarter of the financial year 2019/20 (1 March 2019 - 29 February 2020). Thanks to recovered ethanol prices, operating profit at EUR 15.2 (previous year: EUR 4.6) million was significantly higher than the previous year's result. EBITDA reached EUR 25.8 (previous year: EUR 14.3) million.
CropEnergies furthermore gives a more precise forecast for the current financial year 2019/20. Due to the expectations of slightly higher prices for sustainably produced, climate friendly ethanol, revenues are expected to reach a range of EUR 820 to EUR 900 million, operating profit is expected at EUR 30 to EUR 70 million which corresponds to an EBITDA of EUR 70 to EUR 115 million.
The full report for the 1st quarter 2019/20 will be published on 10 July 2019.
Clean mobility - today and in the future - is CropEnergies' business. Founded in Mannheim, Germany, in 2006, the member of the Südzucker Group is the leading European manufacturer of sustainably produced ethanol. With its annual production capacity of 1.3 million cubic meters in its German, Belgian, UK and French facilities, CropEnergies produces ethanol which predominantly replaces petrol. The highly efficient production facilities reduce CO2 emissions by over 70 percent on average across the whole value-added chain, compared to fossil fuel.
In addition to fuel alcohol, CropEnergies produces 150,000 cubic meters of high-purity neutral alcohol which is used in the beverage, cosmetics, and pharmaceutical industry or for technical applications.
The use of local agricultural raw materials also results in more than 1 million tonnes of high-quality protein food and animal feed every year.
Through advanced technology and innovation CropEnergies contributes to ensure a sustainable mobility from renewable sources today and in the future through its main product ethanol: mobility - sustainable. renewable.
The CropEnergies AG (ISIN DE000A0LAUP1) is listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange.
Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-03
Public Relations / Marketing
Tel.: +49 (621) 71 41 90-65
Fax: +49 (621) 71 41 90-05
14-Jun-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Phone:||+49 (0)621-71 41 90 00|
|Fax:||+49 (0)621-71 41 90 04|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||825011|
|End of Announcement||DGAP News Service|
825011 14-Jun-2019 CET/CEST