12.01.2015
CropEnergies AG DE000A0LAUP1
DGAP-News: Significant production increase at CropEnergies in first nine months of business year - Operating loss despite revenue growth
DGAP-News: CropEnergies AG / Key word(s): 9-month figures
Significant production increase at CropEnergies in first nine months
of business year - Operating loss despite revenue growth
12.01.2015 / 07:00
---------------------------------------------------------------------
Mannheim, 12 January 2015 - The revenues of CropEnergies AG, Mannheim,
increased by 9.4 percent compared to the previous year to EUR 626 (previous
year: 573) million in the first three quarters of the financial year
2014/15. Besides the significantly increased production, the expansion of
the trading activities also contributed to the growth.
EBITDA decreased to EUR 21 (previous year: 62) million. After
depreciation,this resulted in an operating loss of EUR -6 (previous year:
38) million. The main reason for the significant reduction in earnings was
the slump in bioethanol prices in Europe compared to the previous year .
Bioethanol prices fell from EUR 515 per cubic meter at the end of November
2013 to EUR 447 per cubic meter at the end of November 2014. They had
reached a low of EUR 434 on 22 July 2014. Aside from the low prices in the
European bioethanol market, lower earnings for food and animal feed
products also contributed to the reduction of earnings. Even though the raw
material cost decreased compared to the previous year, this could only
partially offset the significant drop in sales prices.
CropEnergies increased bioethanol production by 24 percent to 777,000 cubic
meters in the reporting period and for the first time produced more than
300,000 cubic meters in a quarter. The volume of food and animal feed
products also significantly increased. The growth in bioethanol production
is mainly due to a better utilization of the plant in Wilton, UK, after it
was commissioned in the 3rd quarter of the previous year with an initially
reduced capacity utilization.
In Zeitz, Germany, the construction of a new plant for the production of up
to 60,000 cubic meters of high quality neutral alcohol per year is almost
complete. The remaining tasks will be finished in the next few weeks so the
plant can be commissioned at the beginning of 2015. With the neutral
alcohol plant, CropEnergies will tap additional attractive market outlets
in traditional market segments (e.g. beverage, cosmetics, pharmaceutical
and chemical industry) in which the CropEnergies group is already active
through Ryssen Alcools SAS. CropEnergies has invested EUR 27 million in the
expansion of the Zeitz production site.
For the full financial year 2014/15, CropEnergies confirms and continues to
expect a growth in revenues by 5 to 10 percent to EUR 820 to EUR 860
(previous year: 781) million. EBITDA is expected to range between EUR 20
and EUR 40 (previous year: 68) million. Owing to the continuing uncertainty
regarding price and market developments, CropEnergies expects to achieve an
operating profit ranging between EUR 0 and minus EUR 20 million. For the
1st half of the financial year 2015/16, CropEnergies expects continuing
difficult market conditions in the 1st half of 2015/16, since a decision,
at EU level, about the use of biofuels up to 2020 and beyond is only
expected to be taken in April 2015 . CropEnergies expects this decision to
give new momentum to the industry.
The full report for the first three quarters of the financial year 2014/15
can be downloaded from 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 three modern production facilities in Germany,
Belgium, and France as well as trading offices in the USA and Brazil,
CropEnergies produces approximately 700,000 cubic meters of bioethanol per
year. They mainly replace petrol and reduce CO2 emissions by up to 70
percent. With this, CropEnergies has established itself successfully as a
bioethanol pioneer in a major emerging market.
In addition to the efficient production of bioethanol, CropEnergies is
mainly characterized by the innovative co-product concept: The raw
materials which are used such as cereals and sugar beets are completely
utilized. As a result, 500,000 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]
---------------------------------------------------------------------
12.01.2015 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.
The DGAP 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
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: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
311525 12.01.2015
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
CropEnergies AG ISIN: DE000A0LAUP1 können Sie bei EQS abrufen
Biokraftstoffe , A0LAUP , CE2 , HAM:CE2