Mannheim, 26 March 2018 - According to preliminary results, CropEnergies AG, Mannheim, has increased revenues by 10 percent to EUR 882 (previous year: EUR 802) million in the financial year 2017/18 (1 March 2017 - 28 February 2018).
The main reason for the increase was the ethanol production which has risen by 12 percent to 1,149,000 (previous year: 1,030,000) cubic meters. The production of protein food and animal feed products increased accordingly and has now reached a share of approx. 45 percent of the total volume produced. With EUR 72 (previous year: EUR 98) million, operating profit came out within the projected range and below the previous year's record result. Given an EBITDA of EUR 111 (previous year: EUR 135) million, net financial assets improved to EUR 37 million (previous year: net financial debt of EUR 9 million). In today's meeting, the executive board of CropEnergies AG has decided to propose a dividend of EUR 0.25 (previous year: EUR 0.30) per share for the financial year 2017/18 to the annual general meeting on 17 July 2018, subject to a respective resolution of the supervisory board (expected on 14 May 2018). This currently corresponds to a dividend yield of approx. 4 percent. For the financial year 2018/19 started on 1 March 2018, prices for sustainably produced, climate friendly ethanol are expected to be below the previous year's level. However, prices for protein food and animal feed products should remain on a high level. With revenues expected between EUR 840 and EUR 900 million, CropEnergies thus anticipates an EBITDA in a range of EUR 70 to EUR 110 million and an operating result between EUR 30 and EUR 70 million for the financial year 2018/19. The full report for the financial year 2017/18 will be published on 16 May 2018.