DGAP-News: CropEnergies AG / Key word(s): Quarter Results/Interim
Report
CropEnergies Substantially Increases Revenues and Earnings - Record
production of bioethanol in 3rd quarter
11.01.2012 / 07:00
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Mannheim, 11 January 2012 - In the first three quarters of the current
financial year 2011/12 (1 March to 30 November 2011), CropEnergies AG,
Mannheim, Germany, increased group revenues by 22 percent to EUR 425.8
(previous year: EUR 348.5) million. The growth in revenues was primarily
attributed to higher prices for bioethanol and protein food and animal feed
products. The EBITDA rose by 21 percent to EUR 66.1 (previous year: EUR
54.6) million, while the operating profit increased more than
proportionally by 34 percent to EUR 42.8 (previous year: EUR 32.0) million.
CropEnergies boosted its annual net earnings by 37 percent to EUR 26.4
(previous year: EUR 19.2) million. As a result of the successful business
development, net financial debt was reduced further and totalled EUR 155.4
(previous year: EUR 193.5) million as of 30 November 2011.
In the 3rd quarter of the current financial year, CropEnergies achieved the
highest quarterly production in the company's history through improved
plant utilisation: 191 (previous year: 186) thousand cubic metres of
bioethanol. This record production figure largely compensated for the
decrease in production in the 1st half-year of 2011/12 that resulted from a
modified raw material mix as well as maintenance and optimisation measures.
During the period from March to November 2011, CropEnergies produced a
total of 497 (509) thousand cubic meters of bioethanol.
CropEnergies expects further growth in revenues and earnings for the
current financial year 2011/12. The company anticipates revenues between
EUR 550 and EUR 570 (previous year: EUR 472.8) million and an operating
result ranging from EUR 50 to EUR 53 (previous year: EUR 45.9) million.
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 Baumbach
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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152247 11.01.2012
DGAP-News: CropEnergies Substantially Increases Revenues and Earnings - Record production of bioethanol in 3rd quarter
| Source: EQS Group AG