Corporate | 4 March 2011 11:01
CropEnergies AG / Key word(s): Forecast
04.03.2011 / 11:01
Mannheim, 4 March 2011 - The CropEnergies AG, Mannheim, looks with
confidence towards the new financial year which has started on 1 March
2011, despite the difficulties of the market launch of E10 in Germany. The
company confirms the forecast for the previous business year which ended on
28 February 2011. It expects the revenues to increase to more than EUR 440
million (previous year: EUR 374 million) and the operating profit to more
than EUR 40 million (previous year: EUR 12 million). With the
implementation of the 'Renewable Energies Directive' in the EU, the market
for bioethanol in Europe is expected to grow considerably over the next
years. This development is independent of the current difficulties of the
introduction of E10 at German petrol stations.
CropEnergies sees the main reason for the failure of the launch of E10 in
the uncertainty of the customers. Informing the customers about the new
fuel and the advantages for the consumers prior to the launch has obviously
not succeeded. 'The reports published on 3 March 2011 about the alleged
stop of the E10 introduction is just one example of the misleading
information which is currently circulating. All parties involved must now
work at comprehensively informing the consumers as quickly as possible
about the new fuel,' says Lutz Guderjahn, Member of the Executive Board of
CropEnergies.
Super E10 (premium petrol with a 10 vol.-% bioethanol content), which has
been introduced at German petrol stations, is a petrol standardized
according to DIN 51626-1. For years, E10 has been the standard fuel
available at all petrol stations in the USA. There is also a lot of
incorrect information circulating about the theoretically higher fuel
consumption caused by E10. This, however, is barely measurable. According
to Prof. Dr. Bernhard Geringer of the Vienna University of Technology, E10
can cause a maximum increase in consumption of 1.9 percent compared to
regular premium petrol.
Bioethanol is a sustainable biofuel made from renewable raw materials.
Since 1 January 2011, all biofuels used in Germany must prove that they
save at least 35 percent of the green house gases compared to fossil fuels
across the whole value chain. The bioethanol plants of CropEnergies save
significantly more green house gases. Thus, bioethanol makes an essential
contribution to decreasing the emissions in the transport sector and is
furthermore an inexpensive alternative to other renewable energies.
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.
The components of the raw materials not used to produce bioethanol, such as
proteins, are processed into high-quality food and animal feed products.
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:
Heike Bosserhoff
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
End of Corporate News
---------------------------------------------------------------------
04.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
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, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
114447 04.03.2011