12.01.2016
CropEnergies AG DE000A0LAUP1
DGAP-News: CropEnergies continues improving results
DGAP-News: CropEnergies AG / Key word(s): 9-month figures/Quarter Results
CropEnergies continues improving results
12.01.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
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Mannheim, 12 January 2016 - In the first three quarters of the current
financial year 2015/16 (1 March 2015 - 30 November 2015) CropEnergies AG,
Mannheim, increased its results significantly compared to the same period
of the previous year. Despite revenues decreasing slightly by 11 percent to
EUR 558 (previous year: EUR 626) million because of the temporary closure
of the plant in Wilton, UK, profitability improved significantly especially
due to favorable proceeds for bioethanol.
EBITDA increased significantly to EUR 89 (previous year: EUR 21) million
and operating profit after taking depreciation into account reached EUR 63
(previous year: EUR -6) million. The operating margin was therefore 11
(previous year: -1) percent. Due to the temporary closure of the plant in
Wilton, EUR 13 (previous year: EUR 0) million in restructuring costs and
special items were incurred in the reporting period. Income from
operations, as the sum of operating profit, earnings from entities
consolidated at equity and special items, rose to EUR 50 (previous year:
EUR -6) million.
Due to the increase in earnings, CropEnergies was able to reduce the net
financial debt by EUR 64 million to EUR 86 (as of 28 February 2015: EUR
150) million.
For the full financial year 2015/16, CropEnergies furthermore expects to
generate an EBITDA, adjusted for special items, of between EUR 105 and EUR
125 (previous year: EUR 25) million. After depreciation, operating profit
(before restructuring costs and special items) is expected to range between
EUR 70 and EUR 90 (previous year: EUR -11) million. Apart from this,
special expenses of up to EUR 20 million are expected as a result of the
temporary closure of the plant in Wilton.
In the 2016/17 financial year, business performance will again
predominantly depend on price developments on the bioethanol markets. The
forward prices for bioethanol in Europe for the 2016/17 financial year are
currently showing a significant decline, though trading liquidity is low
and this has been the case for a while. In line with experiences in the
2015/16 financial year, in which some of the spot prices realised were more
than 10 percent higher than the previously quoted forward prices,
CropEnergies expects - assuming stable grain prices - an operating profit
between EUR 30 and EUR 70 million.
CropEnergies expects the EU decisions to increase the proportion of
renewable energies in the transport sector to lead to further market growth
in the medium term. In particular, increasing the blending rates should
result in E10 being introduced in additional member states. As one of the
leading producers in Europe and due to the flexibility and capacity of its
plants, CropEnergies is well equipped for the corresponding increase in
demand.
The interim report for the 1st - 3rd quarter 2015/16 is available for
download on the CropEnergies website.
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:
Heike Baumbach
Investor Relations
Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-03
[email protected]
Nadine Dejung
Public Relations / Marketing
Tel.: +49 (621) 71 41 90-65
Fax: +49 (621) 71 41 90-04
[email protected]
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12.01.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: CropEnergies AG
Maximilianstr. 10
68165 Mannheim
Germany
Phone: +49 (0)621-71 41 90 00
Fax: +49 (0)621-71 41 90 04
E-mail: [email protected]
Internet: www.cropenergies.com
ISIN: DE000A0LAUP1
WKN: A0LAUP
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News Service
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428395 12.01.2016
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