10.04.2015
CropEnergies AG DE000A0LAUP1
DGAP-Adhoc: CropEnergies expects difficult financial year 2015/16
CropEnergies AG / Key word(s): Forecast/Preliminary Results
10.04.2015 08:41
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The issuer is solely responsible for the content of this announcement.
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Mannheim, 10 April 2015 - The revenues of CropEnergies AG, Mannheim,
increased to EUR 827 million (previous year: EUR 781 million) in the
financial year 2014/15 (1 March 2014 to 28 February 2015). As expected,
operating profit fell significantly and reached EUR -11 million (previous
year: EUR 35 million). The temporary standstill of the production site in
Wilton, UK, which was announced in February 2014, led to restructuring
costs and special items of EUR -28 million. In addition to this, there will
be one-time costs of EUR 9 million from the depreciation of deferred tax
assets. The result after taxes for the full financial year 2014/15 will
therefore be negative.
In the context of quarterly reporting, CropEnergies had already drawn
attention to the anticipated difficult market conditions in the 1st half of
the financial year 2015/16. Even though the ethanol prices in the EU have
increased in the last few weeks, there are still doubts about the
sustainability of the current price level. Against this background,
CropEnergies expects an operating profit in the range of EUR minus 20 to
EUR plus 10 million for the financial year 2015/16. In addition, there will
be extraordinary expenses of up to EUR 15 million annually during the
standstill of the bioethanol plant in Wilton.
CropEnergies continues to assume that the decision of the EU expected for
April 2015 will lead to positive impulses for the European bioethanol
market in the mid term through an increase of blending quotas and the
introduction of E10 in additional member states. This should lead to an
improvement in the revenues and earnings situation of bioethanol producers
in Europe.
The full annual report for the financial year 2014/15 with additional
information about the forecast for the financial year 2015/16 will be
published on 19 May 2015.
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]
10.04.2015 The DGAP 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
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 Announcement DGAP News-Service
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