Significant increase in revenues and earnings expected
Mannheim, 28 October 2021, 14:45 CET/CEST – CropEnergies AG, Mannheim, is again raising its outlook for the current financial year 2021/22 (1 March 2021 - 28 February 2022) and now expects revenues in a range of EUR 1,020 to EUR 1,070 (previously expected: EUR 970 to EUR 1,010, previous year: EUR 833) million for the full financial year.
Operating profit is expected to be significantly higher than previously expected and is now to reach EUR 95 to EUR 125 (previously expected: EUR 65 to EUR 90, previous year: EUR 107) million. EBITDA is expected to be in a range of EUR 135 to EUR 170 (previously expected: EUR 105 to EUR 135, previous year: EUR 148) million.
The main reason for the improved revenue and earnings expectations is the significant increase in ethanol sales prices, especially in the last two weeks. Due to a low availability of ethanol on the European spot market, daily prices recently reached a record level of over EUR 1,000/m3. The price quotations for futures contracts also increased significantly during this period. At the same time, raw material and energy prices stabilised at a high level.