Ad-hoc | 20 December 2013 08:55
CropEnergies AG / Key word(s): Change in Forecast/9-month figures
20.12.2013 08:55
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Mannheim, 20 December 2013 - In the first nine months of the current
financial year 2013/14 (1 March 2013 - 28 February 2014) CropEnergies AG,
Mannheim, increased revenues to EUR 572.8 (previous year: 509.7) million.
For the first time, Ensus Ltd, UK, has contributed to the growth. The
decline of the operating profit to EUR 37.2 (previous year: 70.2) million
corresponds to the expectations.
After CropEnergies generated a record in earnings in the financial year
2012/13 thanks to high bioethanol prices and raw materials which were
hedged at low prices, the profit situation normalised in the course of the
current financial year 2013/14. Operating costs from the market situation,
from the commissioning of the bioethanol plant in Wilton, UK, acquired in
July 2013 as well as from the flooding in Zeitz in June 2013 added to this.
Since September 2013, bioethanol prices have been under pressure following
increased competition mainly from imports eluding the current tariff
regulations. The European Bioethanol Association ePURE is currently
examining the legality of these imports. The consolidation of the
bioethanol industry in Europe, which was initiated by CropEnergies, will
accelerate due to the current price levels. By acquiring Ensus,
CropEnergies increased its annual production capacity to 1.2 million cubic
metres of bioethanol and is now one of the leading European bioethanol
producers. In the medium term, CropEnergies will achieve revenues of 1
billion euros.
For the full financial year 2013/14 CropEnergies continues to expect a
growth in revenues between 10 and 20 percent. This is mainly due to the
acquisition of Ensus Ltd, UK, which will lead to higher production and
sales volumes. Considering the current price level of bioethanol,
CropEnergies now expects an operating profit of EUR 33 to 43 (previous
year: 87) million for the full financial year 2013/14.
Furthermore, CropEnergies expects the current developments on the European
bioethanol market to also put pressure on the operating profit of the
financial year 2014/15. In the medium term, the expected consolidation of
the industry will offer further growth possibilities to CropEnergies, who
already is one of the leading European producers of bioethanol with above
average financial and cash flow strength.
The full report for the first nine month of the financial year 2013/14 will
be published on 9 January 2014.
CropEnergies AG
Ensuring mobility in a climate friendly way - today and in the future - is
CropEnergies' business. Founded in Mannheim, Germany, in 2006, the young
and dynamically growing member of the Südzucker Group is one of the leading
European manufacturers of sustainably produced bioethanol for the fuel
sector today. With its production capacities of 1.2 million cubic meters of
bioethanol per year, CropEnergies produces bioethanol which predominantly
replaces petrol in four modern production facilities in Germany, Belgium,
the UK, and France. The highly efficient production facilities reduce CO2
emissions by up to 70 percent across the whole value-added chain compared
to fossil fuel. With the production sites, the unique logistics network in
Europe as well as trading offices in the USA and Brazil, CropEnergies is
one of the leading companies in a major emerging market.
At the same time, CropEnergies is an important producer of food and animal
feed products. The raw materials which are used such as cereals and sugar
beets are completely utilized. As a result, more than 1 million tonnes of
high-quality protein food and animal feed products are manufactured every
year out of the non-fermentable components of the raw materials.
Through advanced technology and innovation CropEnergies contributes to
ensure a sustainable mobility from renewable sources today and in the
future through its main product bioethanol: mobility - sustainable.
renewable.
The CropEnergies AG stock (ISIN DE000AOLAUP1) has been listed at the
regulated market (Prime Standard) at the Frankfurt Stock Exchange since
2006.
Contact:
Public Relations / Marketing
Nadine Dejung
Tel.: +49 (621) 71 41 90-65
Fax: +49 (621) 71 41 90-04
presse@cropenergies.de
Investor Relations
Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-03
ir@cropenergies.de
20.12.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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
Germany
Phone: +49 (0)621-71 41 90 00
Fax: +49 (0)621-71 41 90 04
E-mail: info@cropenergies.de
Internet: www.cropenergies.com
ISIN: DE000A0LAUP1
WKN: A0LAUP
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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