Mannheim, 14 June 2018 – CropEnergies AG, Mannheim, started the 2018/19 financial year with a below-average 1st quarter compared to the previous year. According to preliminary figures, revenues decreased by 17 percent to EUR 192 (previous year: EUR 231) million.
EBITDA of EUR 14 (previous year: EUR 33) million was slightly less than half the previous year's figure. Accordingly, the operating result decreased to EUR 5 (previous year: EUR 23) million. The main reason for the reduction is the significantly lower price of ethanol, which has not yet benefited from the higher oil price. A gradual improvement in ethanol prices and results is expected over the course of the year, while the opposite trend was observed in the past financial year. CropEnergies adjusts its forecast for the 2018/19 financial year as a whole, in particular due to the significant year-on-year decline in ethanol prices, and now expects revenues of EUR 810 to EUR 860 (previously expected: EUR 840 to EUR 900) million and an operating profit of EUR 25 to EUR 55 (previously expected: EUR 30 to EUR 70) million. This is equivalent to an EBITDA of between EUR 65 and EUR 95 (previously expected: between EUR 70 and EUR 110) million.