Corporate | 16 July 2009 15:42
CropEnergies AG / AGM/EGM
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Dr. Theo Spettmann takes over as supervisory board chairman at CropEnergies
Mannheim, July 16, 2009 - The annual general meeting of CropEnergies AG,
Mannheim, on July 16, 2009 elected Dr. Theo Spettmann to the supervisory
board for a term ending at the close of the Annual General Meeting in 2012.
At the supervisory board meeting held after the annual general meeting he
was elected as chairman. Dr. Spettmann is succeeding Dr. h. c. Eggert
Voscherau, who has been chairman of the supervisory board of CropEnergies
AG since November 2006 and retired from the supervisory board at the end of
today's annual general meeting. CropEnergies thanks Dr. Voscherau for the
valuable services he has rendered and his exceptional support at a time
when CropEnergies has evolved from a purely German bioethanol producer into
a pan-European group of companies.
All the other motions put forward by the company's executive board and
supervisory board were adopted by a clear majority of over 99%. Some 600
shareholders attended the annual general meeting which was held in the
Rosengarten in Mannheim. Roughly 82.5% of the share capital was
represented. Of particular interest at the annual general meeting were the
strategic goals of CropEnergies, the developments on the growth market for
renewable energies, and the outlook for the current financial year.
CropEnergies expects the company's growth to continue in the 2009/10
financial year. Higher bioethanol production and sales volumes as a result
of the capacity expansions and the start of the marketing of additional
co-products from the bioethanol plant in Wanze, Belgium, will increase
revenues significantly. Given the signs of recovery in bioethanol prices
and the scheduled increase in output of the plant in Wanze CropEnergies
expects EBITDA and operating profit to be above the previous year's level.
The non-operational expenditures incurred the previous year during the
construction of the bioethanol plant in Belgium will also fall away. All in
all, income from operations will therefore be significantly up on the
previous year's level.
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'. From regenerative resources -
grain and sugar beet - it produces energy in the form of bioethanol.
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@cropenergies.de
Nadine Dejung
Public Relations / Marketing
Tel.: +49 (621) 71 41 90-65
Fax: +49 (621) 71 41 90-04
presse@cropenergies.de
16.07.2009 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, München, Hamburg, Stuttgart
End of News DGAP News-Service
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