CropEnergies AG / Forecast
18.05.2010 10:16
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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CropEnergies aims to more than double operating profit in 2010/11
Profitable growth enables a first dividend payment for 2009/10
Mannheim, 18 May 2010 - With revenues up 14 percent to EUR 374.1 (previous
year: 328.4) million, CropEnergies AG, Mannheim, sustained its growth
course in 2009/10 despite the financial and economic crisis. EBIDTA
increased 16 percent to EUR 33.1 (previous year: 28.6) million. Operating
profit declined to EUR 11.9 (previous year: 18.2) million, however, owing
to the start-up costs for the new bioethanol plant in Belgium and a
doubling of depreciation. With income from operations improving to EUR 9.4
(7.1) million CropEnergies continued to grow profitably despite the
difficult general framework.
CropEnergies Group increased its production of bioethanol by 38 percent to
603,000 m³ in the 2009/10 financial year. This is the result of the
capacity expansion implemented in 2008. The growth in revenues was mainly
due to a substantial rise in sales of bioethanol to 601,000 m³ (previous
year: 482,000 m³) and the first sales of gluten from the new bioethanol
plant in Wanze.
CropEnergies AG will be paying a dividend for the first time since the
company was established in 2006. The supervisory board and the executive
board will propose to the annual general meeting on 15 July 2010 that the
shareholders participate in the unappropriated profit in the 2009/10
financial year with the payment of a total dividend of EUR 4.3 million, or
EUR 0.05 per share.
For the 2010/11 financial year, CropEnergies expects a significant increase
in revenues to over EUR 400 million as it will be possible to better
utilise its modern, efficient plants and unique logistics network. After
the scheduled maintenance phase at the production facilities in Zeitz and
Wanze in the 1st quarter of the financial year, CropEnergies will be in a
position to increase operating profit substantially in the further course
of the year through the full utilisation of its production capacities for
bioethanol and protein co-products. Supported by continued moderate raw
material costs, CropEnergies expects to more than double operating profit
for the full 2010/11 financial year.
CropEnergies is excellently positioned to be able to benefit from the
market growth for bioethanol in Europe and the high demand for protein food
and animal feed products as well as to further expand its technology and
cost leadership in Europe.
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Information and Explaination of the Issuer to this News:
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'. Energy in the form of
bioethanol is produced from renewable resources - grain and sugar beets.
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
18.05.2010 10:16 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: 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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DGAP-Adhoc: CropEnergies aims to more than double operating profit in 2010/11
| Source: EQS Group AG