First outlook for the current financial year
Mannheim, 14 April 2022, 13:15 CET/CEST– CropEnergies AG, Mannheim, expects a significant increase in revenues, EBITDA and operating profit for the 1st quarter after an encouraging start into the 2022/23 financial year (1 March 2022 to 28 February 2023).
In the same quarter of the previous year, CropEnergies had generated an EBITDA of EUR 25 million euros and an operating result of EUR 15 million euros on a revenue of EUR 214 million.
As a result of an incipient weakening of the Corona pandemic, CropEnergies expects a normalisation of mobility behaviour in the course of the 2022/23 financial year. However, the impact of the Ukraine war on sales, energy and raw material markets is difficult to assess. CropEnergies assumes, from today's perspective, that sufficient energy and raw materials will be available for the production of food and animal feed products as well as renewable ethanol. Furthermore, it is expected that the EU member states will essentially maintain their blending targets for biofuels and that this will continue to lead to high capacity utilisation. In addition, CropEnergies assumes that higher energy and raw material costs can continue to be compensated by higher sales prices for ethanol as well as for food and animal feed products.
Against this background, CropEnergies expects revenues of EUR 1.35 to EUR 1.45 (previous year: EUR 1.08) billion and an operating result of EUR 105 to EUR 155 (previous year: EUR 127) million for the 2022/23 financial year. This corresponds to an EBITDA of EUR 145 to EUR 195 (previous year: EUR 169) million.
The full report for the 2021/22 financial year will be published on 18 May 2022. The statement on the 1st quarter of 2022/23 will be published on 6 July 2022.
CropEnergies AG
Sustainable, renewable products made from biomass – that is what CropEnergies stands for. Our products contribute to a climate-friendly world and ensure that fossil carbons remain in the ground permanently and do not continue to drive climate change.
Founded in Mannheim in 2006, the member of the Südzucker Group is the leading European producer of renewable ethanol. With a production capacity of 1.3 million m3 of ethanol per year, CropEnergies produces neutral alcohol as well as technical alcohol (ethanol) for a wide range of applications at locations in Germany, Belgium, the UK, and France: Sustainably produced ethanol as a petrol substitute is an answer to the future challenges of climate-friendly energy supply in the transport sector. Thanks to highly efficient production plants, our ethanol reduces CO2 emissions by an average of more than 70% across the entire value chain compared to fossil fuel. Our high-quality alcohol is also used in beverage production, cosmetics, pharmaceutical applications, for example as a basis for disinfectants, or as a raw material for innovative biochemicals.
Equally important are the resulting protein food and animal feed products as a sustainable regional alternative to emission-intensive protein imports from overseas, as well as biogenic carbon dioxide. It is used in beverage production, among other things, and will be a valuable raw material for a wide range of applications in transport and industry in the future. Thus, all raw material components are utilised in our circular economy.
CropEnergies AG (ISIN DE000A0LAUP1) is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange.