18.05.2016
CropEnergies AG DE000A0LAUP1
DGAP-News: CropEnergies concludes excellent financial year 2015/16
DGAP-News: CropEnergies AG / Key word(s): Final Results/Forecast
CropEnergies concludes excellent financial year 2015/16
18.05.2016 / 10:00
The issuer is solely responsible for the content of this announcement.
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CropEnergies concludes excellent financial year 2015/16
Mannheim, 18 May 2016 - In the financial year 2015/16 (1 March 2015 - 29
February 2016), CropEnergies AG, Mannheim, has achieved excellent results.
While revenues decreased as expected due to a lower bioethanol production
to EUR 723 (previous year: EUR 827) million, significantly higher prices
for bioethanol as well as slightly increased prices for the food and animal
feed products multiplied EBITDA to EUR 122 (previous year: 25) million.
Operating profit reached EUR 87 (previous year: -11) million. Based on
revenues, operating margin improved to 12.0 (previous year: -1.4) percent.
Due to the temporary closure of the production plant in Wilton, UK,
bioethanol production decreased to 837,000 (previous year: 1,056,000) cubic
meters. The volume of food and animal feed products also decreased.
Bioethanol sales reached 997,000 (previous year: 1,283,000) cubic meters of
which 178,000 (previous year: 229,000) cubic meters were trading volumes.
In the last financial year, CropEnergies put the focus on optimizing
results. In addition to further expanding the neutral alcohol business with
the new production facility in Zeitz, this strategy was successfully
carried out by an active capacity management. Considerably fluctuating
bioethanol prices, which could not entirely disconnect from the drop of the
oil prices, proved this strategy right.
The CropEnergies executive board has decided to start up the bioethanol
plant in Wilton for a trial run starting in July 2016 at the latest. The
plant has been temporarily closed since February 2015. During this time,
numerous technical modifications have been carried out to improve the
reliability and energy efficiency of the plant. These improvements are to
be intensively tested now.
In its meeting on 17 May 2016, the supervisory board has decided to follow
the executive board's recommendation for this year's dividend. Supervisory
board and executive board will propose to the annual general meeting on 12
July 2016 to pay a dividend of EUR 0.15 (previous year: EUR 0.00) per
share. On a basis of the issued 87.25 million shares, this results in a
total dividend distribution of EUR 13.1 (previous year: EUR 0.0) million.
For the financial year 2016/17, CropEnergies expects revenues of EUR 625 to
EUR 700 million. Against a background of stable sales volumes and
bioethanol prices which are good, but lower than the previous year,
CropEnergies expects an EBITDA, adjusted for special items, of between EUR
65 and EUR 105 million for the financial year 2016/17. Operating profit is
expected in the range of EUR 30 and EUR 70 million.
In the mid-term, CropEnergies expects the decision of the climate summit in
Paris and the EU resolutions for the increase of the share of renewable
energies in the transport sector to lead to market growth. As one of the
leading producers in Europe and due to the flexibility and capacity of its
plants, CropEnergies is well positioned for the corresponding increase in
demand.
The full annual report for the financial year 2015/16 is available for
download on the CropEnergies homepage.
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 1.3 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, Brazil, and Chile,
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:
Dr. Lilia Filipova-Neumann
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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18.05.2016 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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