Earnings forecast for financial year 2021/22 confirmed
Mannheim, 16 June 2021 - According to preliminary figures, CropEnergies AG, Mannheim, generated revenues of EUR 214 (previous year: EUR 171) million and an operating profit of EUR 15.2 (previous year: EUR 8.1) million in the 1st quarter of the 2021/22 financial year.
EBITDA rose to EUR 25.6 (previous year: EUR 18.2) million. The main reason for the pleasing development is a normalisation of ethanol sales. In the previous year, these had been significantly lower in the 1st quarter due to the extended shutdown at the Wanze site caused by the pandemic. In addition, significantly higher ethanol prices were able to partially compensate for the higher raw material and energy costs.
For the financial year 2021/22, CropEnergies confirms its earnings expectations. 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 the increase in ethanol sales prices, CropEnergies expects slightly higher revenues of EUR 925 to EUR 975 (previously expected: EUR 870 to EUR 920) million.