Ethanol sales volumes increased compared to previous year
Mannheim, 07 July 2021 - In the 1st quarter (1 March - 31 May 2021) of the 2021/22 financial year, CropEnergies AG, Mannheim, generated revenues of EUR 214 (previous year: EUR 171) million and an operating profit of EUR 15.1 (previous year: EUR 8.1) million. This corresponds to an EBITDA of EUR 25.5 (previous year: EUR 18.2) million. Net financial assets increased significantly to EUR 182.6 (28.02.2021: EUR 154.6) million.
The main reason for the pleasing development is a normalisation of ethanol sales. In the previous year, this had been significantly lower in the 1st quarter due to the extended shutdown at the Wanze site caused by the pandemic. Added to this is an increased normalisation of mobility in the wake of a lower number of new corona infections in many European countries, which has led to a recovery in ethanol prices. The increases in sales volumes and prices led to an improved result despite significantly higher specific raw material and energy costs.
As already published on 16 June 2021, CropEnergies confirms its earnings expectations for the 2021/22 financial year. EBITDA is expected to be between EUR 90 and EUR 125 (previous year: EUR 148) million, operating profit between EUR 50 and EUR 80 (previous year: EUR 107) million. However, due to higher ethanol sales prices, CropEnergies expects moderately higher revenues of EUR 925 to EUR 975 (previously expected: EUR 870 to EUR 920) million.