CropEnergies triples its dividend

The total sum paid out therefore rose to EUR 12.8 (previous year: 4.3) million. All the other motions proposed by the management were also adopted by a clear majority of over 98 percent. Around 850 shareholders and guests were present at the annual general meeting in the Rosengarten in Mannheim, representing approximately 83 percent of the capital stock.
The shareholders' interest was focused firstly on the company's strategic course and secondly on the positive outlook for the current financial year, which had already been increased on 22 June 2011. For the full financial year 2011/12, CropEnergies expects revenues to go up to EUR 520 to 570 (previous year: 473) million. Operating margin is expected to reach the previous year's level of around 10 percent.
During the annual general meeting, the executive board announced that CropEnergies intends to expand its activities in future outside the European market. For this purpose the company had begun in June 2011 to extend its international trading network with a branch in the world's biggest bioethanol market by establishing CropEnergies Inc., Houston, USA. The establishment of the new company means that CropEnergies is now present in the world's major bioethanol markets - the USA, Brazil, and Europe. Aside from trading business, the new company will optimise the supply of raw materials to the plant at Loon-Plage in France. Says executive board member Dr. Lutz Guderjahn: "By setting up the company in Houston, we will be enlarging our trading network and strengthening CropEnergies' market position. In future, we will receive information on developments on the bioethanol markets in the USA and Brazil at first hand and will be able to assess their impact on the European market earlier and more accurately." CropEnergies has been trading in Brazil since 2009.