DGAP-News: CropEnergies shows strong increase in revenues and profits in 1st half-year - Further reduction in net financial debt
(firmenpresse) - DGAP-News: CropEnergies AG / Key word(s): Half Year Results
CropEnergies shows strong increase in revenues and profits in 1st
half-year - Further reduction in net financial debt
11.10.2011 / 07:00
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Mannheim, 11 October 2011 - In the 1st half of the current financial year
2011/12 (1 March - 31 August 2011) CropEnergies AG, Mannheim, increased
group revenues by 28 percent to EUR 275.2 (previous year: EUR 214.7)
million. This was mainly due to higher prices for bioethanol and protein
food and animal feed products. EBITDA rose by 37 percent to EUR 44.5
(previous year: EUR 32.4) million. The operating profit went up by 67
percent to EUR 29.0 (previous year: EUR 17.4) million. Net earnings for the
year were increased by 77 percent to EUR 18.5 (previous year: EUR 10.5)
million. CropEnergies reduced its net financial debt in the 1st half of the
2011/12 financial year by EUR 22.2 million to EUR 178.2 (previous year: EUR
200.4) million in spite of paying a dividend of EUR 12.8 (previous year:
EUR 4.3) million in July 2011.
In the 1st half of the 2011/12 financial year, bioethanol production fell
slightly by 5 percent compared with the year before to 306 (previous year:
323) thousand cubic meters. This was the result of an optimization of the
raw material mix.
For the current financial year 2011/12 CropEnergies expects further growth
in revenues and profits, with revenues between EUR 520 and 570 (previous
year: EUR 473) million. The operating margin is expected to reach about 10
(previous year: 9.7) percent.
As a result of higher blending targets for biofuels and the introduction of
E10 petrol in certain member states, such as Germany, CropEnergies expects
rising demand for bioethanol in the EU. In Germany, E10 was available at
about half of the 14 thousand petrol stations by the end of June. Up to
July 2011 a total of 906 thousand tonnes of E10 had been sold. In July
2011, E10 reached a market share of 10 percent. To start with, E10 was
available predominantly at petrol stations in eastern and southern Germany,
but as from August 2011 the petrol companies intensified the rollout of E10
in northern and western Germany. Comprehensive availability will lead to an
increase in E10 sales.?CropEnergies AG
CropEnergies - a member of the Südzucker Group - is a leading European
manufacturer of sustainably produced bioethanol for the fuel industry, with
an annual output of over 700,000 cubic meters of bioethanol. 'Crop' stands
for 'creative regeneration of power': Energy in the form of bioethanol is
produced from renewable resources - grain and sugar beets. CropEnergies
also refines the co-products of bioethanol production into over 500,000
tonnes of high-quality food and animal feed.
CropEnergies sees itself as a pioneer in the German bioethanol market and
is expanding its market position throughout Europe. With three modern
production sites and two tank storage facilities, CropEnergies has an
efficient production and sales network in the European growth market for
renewable energies. The shares of CropEnergies AG (ISIN DE000A0LAUP1) are
listed in the regulated market (Prime Standard) on the Frankfurt Stock
Exchange.
Contact:
Heike Baumbach
Investor Relations
Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-03
ir(at)cropenergies.de
Nadine DejungPublic 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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11.10.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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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
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.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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141866 11.10.2011
Themen in dieser Pressemitteilung:
cropenergies-shows-strong-increase-in-revenues-and-profits-in-1st-half
year
further-reduction-in-net-financial-debt
Unternehmensinformation / Kurzprofil:
Datum: 11.10.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 74383
Anzahl Zeichen: 5913
contact information:
Kategorie:
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