DGAP-News: CropEnergies with revenue growth and increased bioethanol production - Decrease of profits in 1st quarter 2014/15 due to low bioethanol prices

        Print
| Source: EQS Group AG
DGAP-News: CropEnergies AG / Key word(s): Quarter Results
CropEnergies with revenue growth and increased bioethanol production -
Decrease of profits in 1st quarter 2014/15 due to low bioethanol
prices

08.07.2014 / 07:00

---------------------------------------------------------------------

Mannheim, 8 July 2014 - In the 1st quarter of the financial year 2014/15 (1
March 2014 - 31 May 2014), CropEnergies AG, Mannheim, increased its
revenues by 12 percent to EUR 208 (previous year: EUR 186) million. This is
the result of the increased production and sales volumes of bioethanol as
well as food and animal feed products. The expansion of trading activities
has also contributed to the growth in revenues.

Due to the significant decline in the bioethanol proceeds compared to the
previous year, EBITDA halved to EUR 13.5 (previous year: EUR 23.5) million.
Accordingly, operating profit fell by EUR 11.1 to EUR 4.5 (previous year:
EUR 15.6) million. Net earnings ammounted to EUR 0.6 (previous year: EUR
10.4) million. Compared to the last quarter of the previous financial year,
however, a significant improvement is evident. In the 4th quarter 2013/14,
with almost identical revenues, EBITDA had reached EUR 6.5 million,
operating profit was EUR -2.6 million and net income / loss was EUR -7.8
million. Furthermore, CropEnergies reduced its net financial debts to EUR
116 (per 28 February 2014: EUR 135) million in the 1st quarter 2014/15.

In the 1st quarter 2014/15, CropEnergies increased its bioethanol
production by 30 percent compared to the previous year to 262,000 (previous
year: 201,000) cubic meters. Consequently, the volumes of food and animal
feed products which were produced also increased. Besides the production
volumes of Ensus in Wilton, UK, which contributed to a 1st quarter of a
financial year for the first time, this growth is also due to the
production in Zeitz, Germany. In the previous year, the regular maintenance
phase had taken place in the 1st quarter. The maintenance phase in Zeitz
will be carried out in the 2nd quarter of this financial year.

In the financial year 2014/15, revenues are expected to grow to between EUR
850 and EUR 900 million. The high volatility of bioethanol and raw material
prices continues to complicate the forecast of the earnings situation. In
view of the high volatility, CropEnergies continues to expect EBITDA to be
between EUR 10 and EUR 60 million. After depreciation, this will produce an
operating profit of between minus EUR 30 and plus EUR 20 million for the
2014/15 financial year.

The agreement of the European Council which was reached recently about the
amendment of the "Renewable Energies Directive" and the "Fuel Quality
Directive" gives reason to hope that the European Parliament and Council
will soon reach a result and thus a stable framework for the biofuels
industry is created once more.

This is the prerequisite for the member states to fulfil their own stated
requirements for renewable energies in the transport sector which they had
specified in the national action plans and for more countries to introduce
e.g. E10. At this point in time, biofuels are the only possibility to
reduce greenhouse gas emissions in the transport sector quickly and
cheaply. An agreement on a political level will, in the mid-term, result in
a growing biofuels market in the EU.

The full report for the 1st quarter 2014/15 is available on our website at
www.cropenergies.com.



CropEnergies AG

Ensuring mobility in a climate friendly way - today and in the future - is
CropEnergies' business. Founded in Mannheim, Germany, in 2006, the young
and dynamically growing member of the Südzucker Group is one of the leading
European manufacturers of sustainably produced bioethanol for the fuel
sector today. With its production capacities of 1.2 million cubic meters of
bioethanol per year, CropEnergies produces bioethanol which predominantly
replaces petrol in four modern production facilities in Germany, Belgium,
the UK, and France. The highly efficient production facilities reduce CO2
emissions by up to 70 percent across the whole value-added chain compared
to fossil fuel. With the production sites, the unique logistics network in
Europe as well as trading offices in the USA, Brazil, and Chile,
CropEnergies is one of the leading companies in a major emerging market.

At the same time, CropEnergies is an important producer of food and animal
feed products. The raw materials which are used such as cereals and sugar
beets are completely utilized. As a result, more than 1 million tonnes of
high-quality protein food and animal feed products are manufactured every
year out of the non-fermentable components of the raw materials.

Through advanced technology and innovation CropEnergies contributes to
ensure a sustainable mobility from renewable sources today and in the
future through its main product bioethanol: mobility - sustainable.
renewable.

The CropEnergies AG stock (ISIN DE000AOLAUP1) is listed at the regulated
market (Prime Standard) at the Frankfurt Stock Exchange.





Contact:
Investor Relations
Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-03
ir@cropenergies.de


Public Relations / Marketing
Nadine Dejung
Tel.: +49 (621) 71 41 90-65
Fax: +49 (621) 71 41 90-04
presse@cropenergies.de 


End of Corporate News

---------------------------------------------------------------------

08.07.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group 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                                        
             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.com                                  
ISIN:        DE000A0LAUP1                                          
WKN:         A0LAUP                                                
Listed:      Regulierter Markt in Frankfurt (Prime Standard);      
             Freiverkehr in Berlin, Düsseldorf, Hamburg, München,  
             Stuttgart                                             
 
 
End of News    DGAP News-Service  
---------------------------------------------------------------------  
276994 08.07.2014