Mannheim, 17 June 2015 - In the 1st quarter of the current financial year 2015/16 (1 March - 31 May 2015), CropEnergies AG, Mannheim, has maintained revenues slightly below the previous year's level as expected according to preliminary figures. They reached approximately EUR 198 (previous year: 208) million. At the same time, operating profit increased significantly to approximately EUR 14 (previous year: 5) million.
The main reason for the increase in earnings was the encouraging improvement of bioethanol prices in Europe, lower raw material prices as well as improvements in the cost structure especially due to the pause in production of the plant in Wilton, UK. Outside of the operating profit, restructuring costs of EUR 5 (previous year: 0) million were incurred. Thus, the EBIT increased to EUR 9 (previous year: 5) million.
The good start into the financial year prompts CropEnergies to adjust the outlook for the full financial year 2015/15. Operating profit (before restructuring costs and special items) is now expected to be in the range of EUR 10 to EUR 40 (previous year: EUR -11) million and thus positive for the full financial year 2015/16. At the same time, the reduction in revenues following the pause in production in the British plant is expected to be less pronounced. CropEnergies expects revenues in the range of EUR 675 to EUR 725 (previous year: EUR 827) million.
The full report for the 1st quarter 2015/16 will be published on 8 July 2015.