DGAP-News: CropEnergies increases revenues and production - Operating result still burdened by start-up costs in Belgium

CropEnergies AG / Quarter Results

14.07.2009 

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CropEnergies increases revenues and production
Operating result still burdened by start-up costs in Belgium

Mannheim, July 14, 2009 - In the first three months of the 2009/10
financial year CropEnergies AG, Mannheim, increased its revenues by 58%
from EUR 56.4 million to EUR 89.0 million. This was mainly due to a higher
volume of bioethanol sold as a result of the growth in bioethanol
production to a total of 145,000 m³.

EBITDA declined to EUR 0.7 (7.7) million mainly due to the start-up costs
in Belgium, as the fixed costs of the new plant were set against initially
low revenues in the early phase of production, and the fall in bioethanol
prices. As expected, the operating result after depreciation on property,
plant and equipment sank to EUR -3.2 (5.5) million. Without the burdens
from the start-up of the plant in Belgium the operating result would have
matched the previous year's level.

For the full 2009/10 financial year CropEnergies expects a continuation of
the company's growth. Based on the capacity expansions in Germany and
Belgium, the entry into the French market and the anticipated growth in
demand for bioethanol in Europe, production and sales volumes in the
2009/10 financial year will be significantly above the previous year's
levels. The processing and marketing of additional co-products will also
have a positive impact on Group revenues. CropEnergies therefore assumes
that it can increase revenues significantly.

Given the signs of recovery in bioethanol prices and the scheduled increase
in output of the plant in Wanze CropEnergies expects EBITDA and operating
profit to be above the previous year's level. The non-operational
expenditures incurred the previous year during the construction of the
bioethanol plant in Belgium will also fall away. All in all, income from
operations will therefore be significantly up on the previous year's level.


CropEnergies AG

CropEnergies - a member of the Südzucker Group - is a leading European
supplier of sustainably produced bioethanol for the fuel sector. 'Crop'
stands for 'creative regeneration of power'. From regenerative resources -
grain and sugar beet - it produces energy in the form of bioethanol.

CropEnergies sees itself as a pioneer in the German bioethanol market and
is expanding its market position throughout Europe. With subsidiaries in
Germany, Belgium and France, CropEnergies is one of the leading bioethanol
producers in the European growth market for renewable energies. The shares
of CropEnergies AG (ISIN DE000A0LAUP1) are listed in the Official Market
(Prime Standard) on the Frankfurt Stock Exchange.


Contact:
Tobias Erfurth
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 


DGAP 14.07.2009 
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Language:     English
Issuer:       CropEnergies AG
              Gottlieb-Daimler-Str. 12
              68165 Mannheim
              Deutschland
Phone:        +49 (0)621-71 41 90 00
Fax:          +49 (0)621-71 41 90 04
E-mail:       info@cropenergies.de
Internet:     www.cropenergies.de
ISIN:         DE000A0LAUP1
WKN:          A0LAUP
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, München, Hamburg, Stuttgart
 
End of News                                     DGAP News-Service
 
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