Record result in the 3rd quarter
Mannheim, 12 January 2022 – In the first nine months of the 2021/22 financial year (1 March 2021 – 28 February 2022), CropEnergies AG, Mannheim, generated revenues of EUR 781 (previous year: EUR 625) million. The main reason for this were higher volumes and selling prices for virtually all products.
Earnings also improved accordingly despite significantly higher raw material and energy prices. EBITDA rose to EUR 125 (previous year: EUR 109) million, while the operating profit reached EUR 94 (previous year: EUR 79) million.
In the 3rd quarter, CropEnergies generated the highest quarterly revenues in the company's history to date, exceeding the EUR 300 million mark for the first time. This was due in particular to the ethanol sales prices achieved, which reached a historic record level in the course of the quarter. As revenues for protein food and animal feed products also increased, the high raw material and energy costs were more than offset. As a result, EBITDA improved to EUR 66 (previous year: EUR 39) million. Operating profit almost doubled to EUR 56 (previous year: EUR 29) million.
Ethanol production in the first three quarters of 2021/22 increased compared to the previous year to 778,000 (previous year: 735,000) cubic meters. Food and animal feed production also increased compared to the previous year.
For the full financial year, CropEnergies continues to expect revenues in a range of EUR 1,070 to EUR 1,110 (previous year: EUR 833) million, operating profit of EUR 110 to EUR 140 (previous year: EUR 107) million and EBITDA of EUR 150 to EUR 185 (previous year: EUR 148) million. This expectation is based on the assumption that there will be no significant mobility restrictions despite the increasing spread of the Omicron variant and possible further Corona variants in Europe.
The full report for the first nine months of the financial year 2021/22 is available for download on the CropEnergies website.