DGAP-News: CropEnergies AG / Key word(s): Quarter Results/Forecast
CropEnergies continues its growth course - 1st quarter exceeds
expectations
12.07.2011 / 07:00
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Mannheim, 12 July 2011 - CropEnergies AG, Mannheim, started the financial
year 2011/12 with a 1st quarter that exceeded expectations. Due to
increased sales of bioethanol and co-products, as well as higher sales
prices for bioethanol, revenues increased by 41 percent to EUR 132.1
(previous year: 93.5) million. The operating profit multiplied to EUR 15.3
(previous year: 2.4) million.
Bioethanol production was increased by 14 percent in the 1st quarter
2011/12 to 157 (previous year: 138) thousand cubic metres. The main reason
was, in addition to a good utilisation of the production plants, also the
fact that, in contrast to the previous year, scheduled maintenance work
only took place in the bioethanol plant in Wanze during the 1st quarter
2011/12.
In April 2011, follow-up audits confirmed the sustainable production of
bioethanol in Wanze and Zeitz. In Zeitz, the sustainability certification
was updated. CropEnergies Bioethanol GmbH is now also certified as a
primary distributor. That means that raw materials can also be supplied
directly from agricultural companies and converted into sustainable
bioethanol instead of grain dealers or other primary distributors as had
previously been done.
Of the E10 fuel with a bioethanol share of up to 10 volume percent which
was introduced at the start of 2011, 115 thousand tonnes were already sold
on the German fuel market in February 2011. That was significantly more
than French filling stations had been able to sell almost two years after
its introduction there. In April 2011, sales reached approximately 149
thousand tonnes, and thus already a market share of more than 9 percent of
petrol fuels sold. Mid-June 2011, E10 was already available at
approximately half of all German filling stations.
With regard to the full financial year 2011/12, CropEnergies expects, as
already reported on 22 June 2011, revenues between EUR 520 and 570 (473)
million. The operating margin is expected to reach approximately 10 (9.7)
percent, provided the increased raw materials costs can continue to be
compensated for by higher sales 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
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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, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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131643 12.07.2011
DGAP-News: CropEnergies continues its growth course - 1st quarter exceeds expectations
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