Mannheim, 23June 2014 - In the 1st quarter of the financial year 2014/15 (1 March 2014 - 31 May 2014), CropEnergies AG, Mannheim, increased revenues by 11 percent to EUR 208 (previous year: EUR186) million compared to the 1st quarter of the previous year.
The growth in revenues is the result of the increase in production and sales of bioethanol as well as of protein-rich food and animal feed products.
The EBITDA, however, decreased in the 1stquarter 2014/15 as expected, due to bioethanol prices which were lower than in the previous year. At EUR 13.5 (previous year: EUR 23.5) million. it was 43 percent below the previous year's level. Accordingly, operating profit sank by EUR 11.1 million to EUR 4.5 (previous year: EUR 15.6) million.
Compared to the 4thquarter of the previous financial year 2013/14, the company's performance has improved. While revenues remain the same, EBITDA doubled to EUR 13.5 (4th quarter 2013/14: EUR 6.5) million and operating profit reachedEUR 4.5 (4th quarter 2013/14: EUR -2.6) million.
For the financial year 2014/15, CropEnergies confirms a targeted growth in revenues to EUR 850 to EUR 900 (previous year: EUR 781) million and an EBITDA of EUR 10 to EUR 60 (previous year: EUR 68) million. Due to continuing uncertainties about the development of bioethanol prices, CropEnergies further expects an operating profit in the range of minus EUR 30 to plus EUR 20 million.
The interim report for the 1stquarter 2014/15 will be published on 8 July 2014.