Mannheim, 22 October 2018 – CropEnergies AG, Mannheim, adjusts its outlook for the current financial year 2018/19 due to ethanol prices – both spot and forward prices – which have significantly fallen in the last few days contrary to all expectations.
CropEnergies is now expecting an operating result between EUR 15 and EUR 35 (previously expected: EUR 25 to EUR 55) million. This corresponds to an EBITDA of EUR 55 to EUR 75 (previously expected: EUR 65 to EUR 95) million. This implies expected revenues of EUR 750 to EUR 780 (previously expected: EUR 810 to EUR 860) million. Due to the difficult market conditions, CropEnergies will pause production in its plant in Wilton, UK, from the end of November 2018 on.