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Mannheim, 7 December 2022 – CropEnergies AG, Mannheim, Germany, will build a plant for the production of renewable ethyl acetate from sustainable ethanol. Foreseen location is the Zeitz Chemical and Industrial Park, Elsteraue, Germany. The supervisory board of CropEnergies has given the green light to the investment into what will be the first production plant in the new biobased chemicals business. The total investment for the new production facility will be between EUR 120 and EUR 130 million, which will be paid from the existing cash position. CropEnergies is currently engaged in the detailed and construction engineering. Ground breaking is to take place early in 2024 and the commissioning is scheduled latest for summer 2025.
Mannheim, 2 December 2022 – CropEnergies has decided to continue operations at the Ensus production plant in Wilton, UK, from January 2023 onwards. On 19 September 2022, CropEnergies AG, Mannheim, Germany, had communicated that the capacity utilisation of all its renewable ethanol production plants was continuously being assessed and that a decision on whether the current capacity utilization would be maintained from January 2023 onwards would be taken in the following weeks.
Mannheim, 12 October 2022 – CropEnergies AG, Mannheim, reached record revenues of EUR 450 (previous year: EUR 249) million in the 2nd quarter of the financial year 2022/23 (1 June – 31 August). EBITDA tripled to EUR 103 (previous year: EUR 34) million and operating profit also reached a new record high with EUR 93 (previous year: EUR 23) million.
Mannheim, 19 September 2022 – CropEnergies AG, Mannheim, Germany, is continuously assessing the capacity utilisation of all its renewable ethanol production plants. Given the multiplication in energy and power prices in combination with continuously high raw material prices, the pressure on the cost side is increasing. Particularly from January 2023 onwards, CropEnergies can only to a declining extend benefit from hedging positions entered before energy and power prices sky-rocketed.
Mannheim, 7 September 2022 – CropEnergies AG, Mannheim, Germany, has acquired a stake in the Dutch start-up for biobased chemicals Syclus BV, Maastricht. CropEnergies purchases 50 percent of the company's share capital. The investment volume amounts to EUR 1.8 million.
Mannheim, 1 September 2022 – CropEnergies AG, Mannheim, has acquired a stake in the German renewable energy startup East Energy GmbH, Rostock, Germany. As of 1 September 2022, CropEnergies acquires 25 percent of the company's share capital and will provide cash contributions and additionally shareholder loans.
Mannheim, 12 July 2022 – At today's virtual annual general meeting of CropEnergies AG, Mannheim, the shareholders approved by a large majority the proposal of the supervisory board and executive board to increase the dividend to EUR 0.45 (previous year: EUR 0.35) per dividend-bearing share after the record financial year 2021/22. This results in a total distribution of EUR 39.2 million.
Mannheim, 6 July 2022 - In the 1st quarter of 2022/23 (1 March – 31 May 2022), CropEnergies AG, Mannheim, increased revenues to EUR 399 (previous year: EUR 214) million and operating profit to EUR 87 (previous year: EUR 15) million. EBITDA improved to EUR 98 million (previous year: EUR 25 million). Ethanol production in the 1st quarter increased compared to the previous year and reached 281,000 (previous year: 235,000) cubic meters. Food and animal feed production also exceeded the previous year's level.
Mannheim, 9 June 2022 - CropEnergies AG, Mannheim, has acquired a stake in LXP Group GmbH, Teltow (Germany), at the end of May 2022. For approx. EUR 2 million, CropEnergies secured just under 20 percent of the Brandenburg-based biotech startup as part of a capital increase.
Mannheim, 18 May 2022 - CropEnergies AG, Mannheim, Germany, achieved record revenues of EUR 1,075 (previous year: EUR 833) million in the 2021/22 financial year (1 March 2021 – 28 February 2022). Operating profit also improved significantly, reaching EUR 127 (previous year: EUR 107) million and EBITDA EUR 169 (previous year: EUR 148) million. The main reason for the record result was the sharp rise in ethanol sales prices in the 2nd half of the financial year, which more than offset the increase in raw material and energy costs.