Corporate | 10 October 2007 07:00
CropEnergies AG / Half Year Results
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CropEnergies confirms profitable development –
Revenue growth of 20% expected in the 2007/08 financial year
Mannheim, 10 October 2007 - CropEnergies AG, Mannheim, one of Europe’s
leading producers of bioethanol, has further improved revenues and earnings
in the first half of the current financial year (1 March 2007 to 31 August
2007).
Revenues have increased by 34.1% to € 87.2 (H1 2006/07: 65.0) million,
while operating profit was up 85% to € 14.0 (7.5) million. This is
equivalent to an operating margin of 16.0% (11.6%). After special expense
items of € 2.0 (0.0) million for the construction of the plant in Wanze
(Belgium), income from operations came to € 11.9 (7.5) million. Net
earnings for the first six months almost quadrupled to € 13.4 (3.4)
million. The revenue growth was due to both increased bioethanol
production, which was up 14% to 125,100 m³, and higher average selling
prices for bioethanol and the animal feed ProtiGrain®.
Despite the currently high prices for raw materials, CropEnergies expects
the positive business development to continue in the second half of
2007/08. Due to the cost-oriented input material mix and a scheduled
overhaul of the distillation, pace of production growth will be slower than
in the first half of 2007/08. For the full 2007/08 financial year
CropEnergies expects to increase revenues by about 20% and achieve an
operating profit comparable to the previous year’s good result.
About CropEnergies
The CropEnergies-Group – a member of the Südzucker-Group – is an
established and according to the production capacity a leading European
producer of 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. With subsidiaries in Germany,
France, and Belgium, the CropEnergies-Group has – in just a few years –
established itself as a bioethanol producer in a growing market and
operates today’s largest bioethanol plant in Europe in Zeitz,
Saxony-Anhalt, Germany. CropEnergies considers itself a pioneer on the
German bioethanol market and will expand its market position in Europe.
Since 29 September 2006, CropEnergies AG (ISIN DE000A0LAUP1) has been
listed in the Prime Standard at the Frankfurt Stock Exchange.
Contact:
Tobias Erfurth
Investor Relations
Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-03
ir@cropenergies.de
Nadine Dejung
Public Relations / Marketing
Tel.: +49 (621) 71 41 90-65
Fax: +49 (621) 71 41 90-04
presse@cropenergies.de
10.10.2007 Financial News transmitted by DGAP
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Language: English
Issuer: 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@cropenergies.de
Internet: www.cropenergies.de
ISIN: DE000A0LAUP1
WKN: A0LAUP
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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