06.07.2016
CropEnergies AG DE000A0LAUP1
DGAP-News: CropEnergies with a good start into the year and improved outlook - Bioethanol plant in Wilton resumes production
DGAP-News: CropEnergies AG / Key word(s): Quarter Results
CropEnergies with a good start into the year and improved outlook -
Bioethanol plant in Wilton resumes production
06.07.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Mannheim, 6 July 2016 - CropEnergies AG, Mannheim, has significantly
improved its results in the 1st quarter of the 2016/17 financial year.
Revenues decreased by 15 percent to EUR 168 (previous year: EUR 198)
million due to lower proceeds for bioethanol and - following the temporary
standstill of the production plant in Wilton, UK, - lower trading volumes.
The earnings situation, however, improved significantly thanks to lower raw
material prices and lower energy and maintenance costs. EBITDA increased to
EUR 28 (previous year: EUR 22) million, operating profit even rose 42
percent to EUR 19 (previous year: EUR 14) million. The operating margin
therefore increased to 11.6 (previous year: 6.9) percent. Income from
operations reached 16 (previous year: EUR 9) million.
Bioethanol production in the 1st quarter of the financial year 2016/17 was
slightly below the previous year's level with 203,000 (previous year:
205,000) cubic meters. The production of food and animal feed products,
however, increased due to a change in the raw material mix.
Because of the good start into the year, CropEnergies has already increased
its outlook for the full financial year 2016/17 on 21 June 2016. Revenues
are now expected to reach between EUR 640 and EUR 700 (previous year: EUR
723 million). EBITDA adjusted for special items is expected between EUR 85
and EUR 115 (previous year: EUR 122) million. Operating profit should lie
in the range of EUR 50 to EUR 80 (previous year: EUR 87 million).
At the moment, CropEnergies is restarting the bioethanol plant in Wilton.
The goal is to intensively test the modifications to increase reliability
and improve energy efficiency which were implemented during the standstill
and to regulate production according to market conditions. Possible effects
this might have on revenues and earnings - depending on duration and
results - are not yet included in the current outlook.
In the medium term, CropEnergies expects the resolutions passed at the
climate summit in Paris and the EU resolutions for the increase of the
share of renewable energies also in the transport sector to result in
market growth. As a leading producer in Europe, CropEnergies is well
prepared for the subsequent increase in demand. To reach the goals,
however, it is important to define mandatory targets for the use of
renewable energies and the reduction of greenhouse gas emissions in the
transport sector for the time beyond 2020. In the foreseeable future,
biofuels are the only alternative to fossil fuels which is cost-efficient
and available on a large scale. They make an essential contribution to
climate protection in the transport sector.
The report for the 1st quarter 2016/17 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 member
of the Südzucker Group is one of the leading European manufacturers of
sustainably produced bioethanol 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.
In addition to fuel alcohol, CropEnergies also produces 150,000 cubic
meters of high-purity neutral alcohol which is used in the beverage,
cosmetics, and pharmaceutical industry or for technical applications. 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 (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]
---------------------------------------------------------------------------
06.07.2016 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
478401 06.07.2016
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
CropEnergies AG ISIN: DE000A0LAUP1 können Sie bei EQS abrufen
Biokraftstoffe , A0LAUP , CE2 , HAM:CE2