DGAP-News: CropEnergies reports a strong 1st quarter
(firmenpresse) - CropEnergies AG / Quarter Results
13.07.2010 07:00
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CropEnergies reports a strong 1st quarter
Growth in revenues and earnings despite 5-year plant overhaul in Zeitz
Mannheim, 13 July 2010 - CropEnergies AG, Mannheim, increased its revenues
in the 1st quarter of the 2010/11 financial year by five percent to EUR
93.5 (previous year: 2009/10: EUR 89.0) million. Higher bioethanol and
co-product sales in Belgium contributed especially. EBITDA improved
strongly to EUR 9.7 (previous year: 0.7) million after the 1st quarter of
the previous year had been burdened by the start-up phase at the new plant
in Belgium. This was equivalent to a margin of 10.4 (previous year: 0.8)
percent. The operating result rose to EUR 2.4 (previous year: -3.2)
million, although depreciation almost doubled to EUR 7.4 (previous year:
3.9) million.
Bioethanol production was slightly down year over year at 138,000 (previous
year: 145,000) m³. The reason for this small decline was a more intensive
maintenance phase at the production plant in Zeitz, which is required by
law after a period of five years' operation for inspecting the pressure
vessels, among other things. At the same time, CropEnergies used the
maintenance phase in Zeitz to carry out the necessary connection work for
the CO2 purification and liquefaction plant which is being constructed
there. The volume of bioethanol produced at Wanze was increased despite the
scheduled maintenance phase. The optimisation measures performed there have
led to a further improvement in process stability and a reduction in
specific energy consumption. While the plant was shut down, preparations
were also carried out for IFS certification (International Food Standard).
With the certification process successfully completed in May 2010, the
gluten produced in Wanze can be marketed for use in the food industry.
For the 2010/11 financial year, CropEnergies expects to increase revenues
substantially to more than EUR 400 (previous year: 374) million as a result
of growth in the production and sale of bioethanol as well as food and
animal feed products. On the basis of current market prices and forecasts,
CropEnergies sees its operating profit, which was at EUR 11.9 million in
the previous year, more than doubling in the 2010/11 financial year. In
this, the company benefits from its efficient production and distribution
network and from the high-quality food and animal feed products that
enhance its profitability and reduce its exposure to developments on the
ethanol and raw material markets. CropEnergies is therefore excellently
positioned to profit from the growing European bioethanol market.
CropEnergies AG
CropEnergies - a member of the Südzucker Group - is a leading European
supplier of sustainably produced bioethanol for the fuel sector. 'Crop'
stands for 'creative regeneration of power'. Energy in the form of
bioethanol is produced from renewable resources - grain and sugar beets.
CropEnergies sees itself as a pioneer in the German bioethanol market and
is expanding its market position throughout Europe. With subsidiaries in
Germany, Belgium, and France, CropEnergies is one of the leading bioethanol
producers in the European growth market for renewable energies. The shares
of CropEnergies AG (ISIN DE000A0LAUP1) are listed in the Official Market
(Prime Standard) on the Frankfurt Stock Exchange.
Contact:
Tobias Erfurth
Investor Relations
Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-03
ir(at)cropenergies.de
Nadine Dejung
Public Relations / Marketing
Tel.: +49 (621) 71 41 90-65
Fax: +49 (621) 71 41 90-04
presse(at)cropenergies.de
13.07.2010 07:00 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.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(at)cropenergies.de
Internet: www.cropenergies.de
ISIN: DE000A0LAUP1
WKN: A0LAUP
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Hamburg, Stuttgart
End of News DGAP News-Service
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Datum: 13.07.2010 - 07:00 Uhr
Sprache: Deutsch
News-ID 23790
Anzahl Zeichen: 0
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Kategorie:
Business News
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