Corporate | 13 January 2010 07:00
CropEnergies AG / Quarter Results
13.01.2010
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CropEnergies continues to grow
EBITDA increased in the 3rd quarter by 36% to EUR9.5 million
Mannheim, 13 January, 2010 - In the first nine months of the financial year
2009/10 (March 1 through November 30, 2009) CropEnergies AG, Mannheim,
recorded a substantial increase in revenues of 18% to EUR280.3 million
(previous year: 237.5 million). Amongst other things, the company
benefitted from increased sales as a result of the capacity expansion.
EBITDA declined during the reporting period due to the start-up costs of
the new bioethanol plant in Wanze, Belgium, to EUR16.9 million (previous
year: 22.8 million). This is equivalent to an EBITDA margin of 6.1%
(previous year: 9.6%). The 3rd quarter contributed to this with a rise in
EBITDA of 36% to EUR9.5 million (previous year: 7.0 million). CropEnergies
achieved an operating profit of EUR3.6 million (previous year: 15.6
million) even though depreciation almost doubled to EUR13.4 million
(previous year: 7.2 million). The 3rd quarter accounted for EUR4.4 million
(previous year: 4.5 million), offsetting the operating loss incurred during
the current year. Excluding the start-up costs for the plant in Wanze, the
operating profit in the first nine months of the financial year would have
been significantly higher than in the previous year.
Against the background of the capacity expansion and increasing demand for
bioethanol, CropEnergies expects production and sales volumes for the
financial year 2009/10 to exceed those of the previous year. Furthermore,
CropEnergies anticipates that the expansion of the product range of food
and animal feeds will have a positive impact on the Group's revenues. For
the financial year 2009/10, CropEnergies expects a substantial increase in
revenues. Due to the operating burdens resulting from the start-up of the
plant in Wanze, the operating profit will, however, be below the previous
year's level.
CropEnergies anticipates a growth in demand for bioethanol in Europe for
the financial year 2010/11. By utilizing the expanded production capacities
for bioethanol and protein co-products and with continued moderate raw
material costs, CropEnergies expects a continued growth of the company with
a significantly improved operating profit.
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.
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.
Kontakt:
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
13.01.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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@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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