Outlook for financial year raised once more
Mannheim, 15 December 2021, 09:50 CET/CEST – In the 3rd quarter of the current financial year 2021/22 (1 March 2021 - 28 February 2022), CropEnergies AG, Mannheim, generated the best quarterly result since the company has been founded, according to preliminary figures.
Revenues in the 3rd quarter increased significantly compared to the same quarter of the previous year to EUR 318 (previous year: EUR 226) million. The operating result also grew significantly and reached EUR 56 (previous year: EUR 29) million, the EBITDA EUR 66 (previous year: EUR 39) million. The main reason for the record result was the strong increase in ethanol sales prices in recent months, which more than compensated for the high raw material and energy costs. In the first nine months of the financial year 2021/22, CropEnergies therefore generated revenues of EUR 781 (previous year: EUR 625) million. EBITDA increased to EUR 125 (previous year: EUR 109) million, while the operating result reached EUR 94 (previous year: EUR 79) million.
In view of the still favourable price levels on the ethanol markets, CropEnergies once more increases its outlook for the entire financial year and now expects revenues of EUR 1,070 to EUR 1,110 (previously expected: EUR 1,020 to EUR 1,070, previous year: EUR 833) million, an operating profit of EUR 110 to EUR 140 (previously expected: EUR 95 to EUR 125, previous year: EUR 107) million and an EBITDA of EUR 150 to EUR 185 (previously expected: EUR 135 to EUR 170, previous year: EUR 148) million. The increased outlook is based on the assumption that, despite the increasing spread of the Omicron variant in Europe, there will be no significant restrictions on mobility.
The full report for the first nine months of the 2021/22 financial year will be published on 12 January 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.