DGAP-News: CropEnergies with record revenues and earnings in the 2012/13 financial year - Further expansion of the site in Zeitz
(firmenpresse) - DGAP-News: CropEnergies AG / Key word(s): Final Results/Forecast
CropEnergies with record revenues and earnings in the 2012/13
financial year - Further expansion of the site in Zeitz
07.05.2013 / 10:00
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Mannheim, 7 May 2013 - CropEnergies AG, Mannheim, had a successful 2012/13
financial year. Owing to higher production and sales volumes, revenues
significantly exceeded the previous year's record level, growing by 20
percent to EUR 688.7 (previous year: 572.1) million. EBITDA improved more
than proportionally in relation to revenue growth, rising by 41 percent to
EUR 119.0 (previous year: 84.3) million, which corresponds to an EBITDA
margin of 17.3 (previous year: 14.7) percent. Operating profit increased
even more sharply, growing by 64 percent to EUR 87.0 (previous year: 53.0)
million. The growth in earnings was due to the contribution margins from
higher sales of bioethanol. Better sales prices for food and animal feed
products ensured additional increases in earnings. Net financial debt
declined appreciably to EUR 82.9 (previous year: 158.4) million.
The CropEnergies Group significantly increased bioethanol production by 17
percent to 808,000 (previous year: 692,000) cubic metres in the 2012/13
financial year. This was mainly due to better capacity utilisation owing to
a change in the raw materials mix and rigorously pursued optimisations of
the plants at all production sites.
At its meeting of 6 May 2013, the supervisory board approved the
recommendation of the executive board to increase the dividend. Executive
board and supervisory board will propose to the annual general meeting on
30 July 2013 that the dividend be increased to EUR 0.20 (previous year:
0.18) per share and an additional EUR 0.06 per share be paid out owing to
the particularly good earnings situation. This will result in an overall
dividend of EUR 0.26 per share and a total payout of EUR 22.1 (previous
year: 15.3) million.
Given stable market prices for bioethanol and vegetable proteins as well as
continued high plant utilisation, CropEnergies expects revenues for the
2013/14 financial year to be close to the previous year's level. The
earnings situation will return to normal following the record results
achieved in the 2012/13 financial year. CropEnergies therefore expects
operating profit to range between EUR 50 and 60 million after a
below-average 1st quarter in 2013/14. This results in an expected return on
capital employed (ROCE) of at least 10 percent, which will continue to
give CropEnergies a leading position in the renewable energies industry.
CropEnergies is continuing to invest in the expansion of production
capacities. In the 2012/13 financial year, CropEnergies will erect a
processing plant for the production of high-quality food-grade neutral
alcohol for approximately EUR 27 million at the site in Zeitz. This will
enable CropEnergies to open up additional attractive sales opportunities in
traditional market segments (e.g. the beverage and cosmetics industry,
pharmaceuticals), in which CropEnergies Group is already operating through
Ryssen Alcools. Commissioning of the plant with a capacity of 60,000 cubic
metres of neutral alcohol per year is planned for 2015.
The full report for the 2012/13 financial year can be downloaded from
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 three modern production facilities in Germany,
Belgium, and France as well as trading offices in the USA and Brazil,
CropEnergies produces approximately 700,000 cubic meters of bioethanol per
year. They mainly replace petrol and reduce CO2 emissions by up to 70
percent. With this, CropEnergies has established itself successfully as a
bioethanol pioneer in a major emerging market.
At the same time, CropEnergies is a major 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, 500,000 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) has been listed at the
regulated market (Prime Standard) at the Frankfurt Stock Exchange since
2006.
Contact:
Heike Baumbach
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
End of Corporate News
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07.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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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(at)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
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209944 07.05.2013
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Datum: 07.05.2013 - 10:00 Uhr
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