DGAP-News: CropEnergies continues revenue and earnings growth in the 2nd quarter
(firmenpresse) - CropEnergies AG / Key word(s): Half Year Results
13.10.2010 07:00
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CropEnergies continues revenue and earnings growth in the 2nd quarter
Operating profit in the first six months reaches a record level
Mannheim, 13 October 2010 - CropEnergies AG, Mannheim, increased its
revenues in the 1st half of the current 2010/11 financial year (1 March -
31 August 2010) considerably by 16.5 percent year over year to EUR 214.7
(previous year: 184.3) million. EBITDA improved in the 1st half to EUR 32.4
(previous year: 7.5) million and reached a margin of 15.1 (previous year:
4.1) percent. The operating result was up strongly to EUR 17.4 (previous
year: -0.8) million. After a financial result of EUR -4.0 (previous year:
-3.9) million and net tax of EUR -3.0 (previous year: 2.8) million,
CropEnergies posted net earnings after tax in the 1st half of EUR 10.5
(previous year: -2.0) million.
The growth in revenues and earnings was driven mainly by increased sales
volumes of bioethanol and high-grade food and animal feed products,
especially on the back of higher capacity utilisation at the production
plant in Wanze, Belgium. As a result, CropEnergies was able to increase
bioethanol production in the 1st half of 2010/11 by 10 percent year over
year to 323,000 m³.
For the 2nd half of the 2010/11 financial year, CropEnergies expects
profitable growth and to strengthen the market position it has achieved. As
already reported in an ad hoc announcement on 20 September 2010,
CropEnergies is raising its revenue and earnings forecasts for the 2010/11
financial year, and now expects growth in revenues to over EUR 420
(previous year: 374) million and operating profit in excess of EUR 30
(previous year: 12) million. With an efficient production and distribution
network as well as high-quality food and animal feed products that reduce
its dependence on developments on the ethanol and raw material markets,
CropEnergies is excellently positioned in 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.
The components of the raw materials not used to produce bioethanol, such as
proteins, are processed into high-quality food and animal feed products.
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
13.10.2010 07:00 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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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 Hamburg, München, Berlin, Düsseldorf, Stuttgart
End of Announcement DGAP News-Service
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Datum: 13.10.2010 - 07:00 Uhr
Sprache: Deutsch
News-ID 32344
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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