DGAP-News: CropEnergies AG / Key word(s): AGM/EGM/Dividend
CropEnergies triples its dividend - Positive outlook - Establishment
of a trading branch in the USA
19.07.2011 / 15:18
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Mannheim, 19 July 2011 - At the annual general meeting of CropEnergies AG,
Mannheim, on 19 July 2011, the shareholders approved the proposal of the
supervisory board and the executive board to triple the dividend to EUR
0.15 per share (previous year: 0.05). The total sum paid out therefore rose
to EUR 12.8 (previous year: 4.3) million. All the other motions proposed by
the management were also adopted by a clear majority of over 98 percent.
Around 850 shareholders and guests were present at the annual general
meeting in the Rosengarten in Mannheim, representing approximately 83
percent of the capital stock.
The shareholders' interest was focused firstly on the company's strategic
course and secondly on the positive outlook for the current financial year,
which had already been increased on 22 June 2011. For the full financial
year 2011/12, CropEnergies expects revenues to go up to EUR 520 to 570
(previous year: 473) million. Operating margin is expected to reach the
previous year's level of around 10 percent.
During the annual general meeting, the executive board announced that
CropEnergies intends to expand its activities in future outside the
European market. For this purpose the company had begun in June 2011 to
extend its international trading network with a branch in the world's
biggest bioethanol market by establishing CropEnergies Inc., Houston, USA.
The establishment of the new company means that CropEnergies is now present
in the world's major bioethanol markets - the USA, Brazil, and Europe.
Aside from trading business, the new company will optimise the supply of
raw materials to the plant at Loon-Plage in France. Says executive board
member Dr. Lutz Guderjahn: 'By setting up the company in Houston, we will
be enlarging our trading network and strengthening CropEnergies' market
position. In future, we will receive information on developments on the
bioethanol markets in the USA and Brazil at first hand and will be able to
assess their impact on the European market earlier and more accurately.'
CropEnergies has been trading in Brazil since 2009.
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
Germany
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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132507 19.07.2011
DGAP-News: CropEnergies triples its dividend - Positive outlook - Establishment of a trading branch in the USA
| Source: EQS Group AG