Corporate | 9 July 2008 07:00
CropEnergies AG / Quarter Results
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Successful start of new financial year for CropEnergies – Revenue increases
by 66 percent
Mannheim, 9 July 2008 – CropEnergies AG, Mannheim, has increased its
revenues by 66% to € 56.4 (34.1) million € in the first three months of the
current financial year (1 March to 31 May 2008). Besides increased selling
prices, this was mainly due to higher bioethanol sales. Supported by a
growth in revenues and an increased use of sugar syrups instead of grain,
operating profit reached last year’s level of € 5.5 (5.5) million despite
higher grain prices. After preparatory cost for Wanze and a capital
expenditure-related decrease in the interest result, net earnings in the
first quarter amounted to € 3.0 (4.2) million.
Bioethanol production rose by 5.1% to 62,000 (59,000) m³.
For CropEnergies, the 2008/09 financial year will be characterized by the
entry into the French market and the expansion of capacities in Germany and
Belgium. The acquisition of Ryssen Alcools S.A.S as well as the completion
of the expansion of the bioethanol plant in Zeitz at the end of June are
part of the expansion program of CropEnergies. At the end of 2008, another
plant with an annual capacity of up to 300,000 m³ will be started up in
Wanze, Belgium. Although these measures will only have full effect from the
2009/10 financial year on, CropEnergies expects year-on-year growth of more
than 50% in revenues already in 2008/09 and a positive albeit reduced
operating profit due to higher raw material cost.
The CropEnergies AG
The CropEnergies Group – a member of the Südzucker Group – is an
established 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, CropEnergies has
established itself as a bioethanol producer in a growing market in just a
few years and it operates today’s largest bioethanol plant in Europe in
Zeitz, Saxony-Anhalt, Germany. CropEnergies considers itself a pioneer on
the German bioethanol market and expands its market position in Europe. The
shares of CropEnergies AG (ISIN DE000A0LAUP1) are 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
09.07.2008 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: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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