3rd quarter is expected to be significantly above 2nd quarter of current financial year
Mannheim, 18 October 2023, 13:00 CEST – CropEnergies AG, Mannheim, expects a significant reduction in revenues, EBITDA and operating profit also in the 3rd quarter of the financial year 2023/24 (1 September – 30 November 2023) compared to the previous year.
In the same quarter of the previous year, CropEnergies had achieved an above-average result due to exceptional framework conditions. Revenues in the same quarter of the previous year amounted to EUR 328 million, the operating profit reached EUR 56 million and EBITDA was EUR 66 million. The main reason for the expected drop in earnings are the – compared to the high price level of the same quarter of the previous year – normalised prices for sustainably produced ethanol.
The result for the 3rd quarter of the current financial year, however, is expected to be significantly above that of the 2nd quarter.