DGAP-News: CropEnergies with higher revenues and lower earnings in 1st half of 2013/14 - Outlook confirmed - start-up of bioethanol production plant in the UK
(firmenpresse) - DGAP-News: CropEnergies AG / Key word(s): Half Year Results/Quarter
Results
CropEnergies with higher revenues and lower earnings in 1st half of
2013/14 - Outlook confirmed - start-up of bioethanol production plant
in the UK
09.10.2013 / 07:00
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Mannheim, 9 October 2013 - In the 1st half of the financial year 2013/14 (1
March 2013 - 31 August 2013), revenues of CropEnergies AG, Mannheim,
increased by 16 percent to EUR 372 (previous year: 320) million exceeding
the previous record level of the 2nd half of the financial year 2012/13.
The growth in revenues is due to the higher sales volume of bioethanol as
well as higher earnings for bioethanol and high protein food and animal
feed products.
As expected, EBITDA decreased due to higher raw material costs. With EUR 42
(previous year: 53) million it was 21 percent below the previous year's
level. In the previous year, the early and cost-efficient hedging of raw
materials and increasing revenues for protein-rich food and animal feed
products had enhanced earnings. The EBITDA margin is 11.3 (previous year:
16.6) percent.
The operating profit decreased by 30 percent to EUR 26 (previous year: 37)
million in the 1st half of the 2013/14 financial year. This includes
one-time costs for flooding damages in Zeitz and for additional maintenance
work in the 2nd quarter 2013/14.
In the 1st half of the 2013/14 financial year, CropEnergies produced
377,000 (previous year: 380,000) cubic metres of bioethanol. Even though
production in Zeitz had to be stopped temporarily in June 2013 due to the
hundred-year flood of the Weiße Elster river, it could be resumed within a
short period of time. Thanks to the high capacity utilisation in Zeitz and
Wanze, a large part of the flood-related loss of output has already been
compensated for.
CropEnergies confirms the growth target for revenues of 10 to 20 percent
(previous year: EUR 689 million) for the financial year 2013/14 and an
operating profit of EUR 40 to 50 (previous year: 87) million.
At the Ensus site at Wilton, UK, CropEnergies has begun the start-up of the
bioethanol plant at the end of September 2013. CropEnergies had acquired
the bioethanol producer Ensus Limited in July 2013 and had carried out
extensive maintenance and optimisation works. With this acquisition,
CropEnergies increased its production capacity to 1.2 million cubic metres
of bioethanol and more than 1 million tonnes of food and animal feed
products, becoming one of the largest European bioethanol producers.
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
Europeas well as trading offices in the USA and Brazil, 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) has been listed at the
regulated market (Prime Standard) at the Frankfurt Stock Exchange since
2006.
Contact:
Investor Relations
Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-03
ir(at)cropenergies.de
Public Relations / Marketing
Nadine Dejung
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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09.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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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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233807 09.10.2013
Themen in dieser Pressemitteilung:
cropenergies-with-higher-revenues-and-lower-earnings-in-1st-half-of-2013-14
outlook-confirmed
start
up-of-bioethanol-production-plant-in-the-uk
Unternehmensinformation / Kurzprofil:
Datum: 09.10.2013 - 07:00 Uhr
Sprache: Deutsch
News-ID 304078
Anzahl Zeichen: 7340
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