DGAP-News: CropEnergies AG / Key word(s): Final Results/Forecast
CropEnergies expects further growth of revenues and earnings in the
2011/12 financial year - Improved earnings in 2011/12 allow a tripling
of the dividend
12.05.2011 / 10:30
---------------------------------------------------------------------
Mannheim, 12 May 2011 - CropEnergies AG, Mannheim (Germany), increased its
revenues in the 2010/11 financial year (1 March 2010 - 28 February 2011) by
26 percent to EUR 472.8 (previous year: 374.1) million. EBITDA grew by 131
percent to EUR 76.3 (33.1) million. Despite an increase in depreciation EUR
30.4 (21.2) million, operating profit nearly quadrupled to EUR 45.9 (11.9)
million. The operating margin reached 9.7 (3.2) percent of revenues.
CropEnergies thus exceeded its own forecast and further expanded its
position as one of Europe's leading bioethanol manufacturers.
The increases of revenues and earnings were attributable to significant
growth in the capacity utilisation of bioethanol and high-quality
protein-rich co-products, particularly as a result of higher production
output from the Wanze plant. In the 2010/11 financial year, the
CropEnergies Group increased its production of bioethanol by 14 percent to
687 (previous year: 603) thousand m³. The higher production volumes were
successfully marketed via the efficient sales and logistics network. In the
area of high-quality protein-rich co-products, the company began selling
gluten for food applications, thus entering a new profitable market.
Based on the improved earnings, the supervisory board and executive board
will recommend to the annual general meeting on 19 July 2011 to triple the
dividend for 2010/11 to EUR 0.15 (previous year: 0.05) per share. This
equates to a total payout of EUR 12.75 (previous year: 4.25) million.
Following the dynamic development driven by the capacity expansion and
productivity improvements achieved, CropEnergies expects further profitable
growth for the 2011/12 financial year, taking the introduction of E10 in
Germany into account. Production and sales volumes of bioethanol, food, and
animal feed in the 2011/12 financial year are expected to remain at least
at the previous year's high level. In conjunction with better marketing
opportunities for the products, CropEnergies expects a continued, but now
more moderate, growth in revenues in the 2011/12 financial year. Provided
that the higher raw material costs can continue to be offset through higher
selling prices, operating profit will also grow, but more moderately. This
will further strengthen CropEnergies' leading position among the listed
biofuel manufacturers especially against the background of current raw
material prices.
â
CropEnergies AG
CropEnergies - a member of the Südzucker Group - is a leading European
manufacturer of sustainably produced bioethanol for the fuel industry, with
an annual output of over 700,000 cubic meters of bioethanol. 'Crop' stands
for 'creative regeneration of power': Energy in the form of bioethanol is
produced from renewable resources - grain and sugar beets. CropEnergies
also refines the co-products of bioethanol production into over 500,000
tonnes of high-quality food and animal feed.
CropEnergies sees itself as a pioneer in the German bioethanol market and
is expanding its market position throughout Europe. With three modern
production sites and two tank storage facilities, CropEnergies has an
efficient production and sales network in the European growth market for
renewable energies. The shares of CropEnergies AG (ISIN DE000A0LAUP1) are
listed in the regulated market (Prime Standard) on the Frankfurt Stock
Exchange.
Contact:
Heike Bosserhoff
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
End of Corporate News
---------------------------------------------------------------------
12.05.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
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, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
124156 12.05.2011
DGAP-News: CropEnergies expects further growth of revenues and earnings in the 2011/12 financial year - Improved earnings in 2011/12 allow a tripling of the dividend
| Source: EQS Group AG