DGAP-News: CropEnergies reports a good business development and positive outlook- CO2 liquefaction plant in Zeitz starts production
(firmenpresse) - DGAP-News: CropEnergies AG / Key word(s): Quarter Results
CropEnergies reports a good business development and positive outlook-
CO2 liquefaction plant in Zeitz starts production
11.01.2011 / 07:00
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Mannheim, 11 January 2011 - CropEnergies AG, Mannheim, increased its
revenues strongly year over year in the first three quarters of the current
2010/11 financial year (1 March - 30 November 2010) to EUR 349 (previous
year: 280) million. That was a growth of 24 percent. EBITDA trebled versus
the same period of the previous year to EUR 54.6 (previous year: 16.9)
million and reached a margin of 15.7 percent. Operating profit improved to
EUR 32.0 (previous year: 3.6) million. The growth in revenues and earnings
was the result above all of the increased production of bioethanol and the
high-grade protein food and animal feed products at the plant in Wanze,
Belgium, which led to higher sales volumes also in the 3rd quarter. Cash
flow rose strongly to EUR 47.3 (previous year: 6.9) million. After capital
expenditure, and despite the company's first dividend payment in July 2010,
CropEnergies was able to reduce net financial debt to EUR 193.5 (28
February 2010: 215.4) million.
CropEnergies increased its bioethanol production in the first nine months
of the 2010/11 financial year by 16 percent to 509,000 (previous year:
438,000) cubic metres, mainly as the result of higher capacity utilization
in Wanze. The bioethanol plants in Zeitz and Wanze were certified according
to sustainability standards in October 2010. As a result, the bioethanol
produced there can be used by the mineral oil industry to meet its
mandatory blending obligations with sustainable bioethanol. With this
certification, CropEnergies is strengthening its pioneering position
especially on the German bioethanol market, which will grow dynamically
with the introduction of E10 from January 2011 on. Furthermore, the plant
for the purification and liquefaction of an annual 100,000 tonnes of
biogenic CO2 was brought on stream in Zeitz. First customers have already
been supplied.
In light of the gratifying development of business in the first nine months
CropEnergies is raising its full-year revenue and earnings forecasts for
the 2010/11 financial year. Revenues are now expected to increase
approximately 20 percent to over EUR 440 (previous year: 374) million.
Operating profit should be in excess of EUR 40 (previous year: 12) million
and thus more than treble compared to the previous year.
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:
Heike Bosserhoff
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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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, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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108550 11.01.2011
Datum: 11.01.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 32975
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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