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CropEnergies to repeat good 1st half of previous year despite lower earnings in 2nd quarter 2016/17 - outlook for earnings confirmed
528 
0 KommentareCropEnergies AG / Key word(s): Change in Forecast/Quarter Results
22.09.2016 08:44
Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Mannheim, 22 September 2016 - CropEnergies AG, Mannheim, has achieved an
operating result of EUR 22 (previous year: EUR 26) million in the 2nd
quarter 2016/17. Compared to the 1st quarter of the current financial year,
this is an increase of EUR 2 million. Altogether, the 1st half 2016/17
reaches the same level as the successful previous year's with an operating
result of EUR 41 (previous year: EUR 40) million. The main reasons for the
stable profit development in the 1st half 2016/17 were lower raw material
and energy prices which were able to compensate for the lower prices in the
ethanol market to a large extent.
Revenues in the 2nd quarter 2016/17 were EUR 182 (previous year: EUR 193)
million and therefore lower than in the previous year, but exceeded the 1st
quarter (EUR 168 million). This leads to revenues of EUR 350 million in the
1st half 2016/17 which were lower than the previous year's revenues of EUR
390 million mainly due to lower trade volumes and lower ethanol prices.
The technical modifications of the last months have been successfully
tested in the trial run of the bioethanol plant in Wilton since July 2016.
They improve process stability and energy efficiency of the plant in
particular. This allows for the entire production capacity of the
CropEnergies Group to be operated flexibly according to market conditions
and the order situation.
Against this background, CropEnergies increases its forecast for revenues
for the financial year 2016/17 and expects them to lie between EUR 670 and
EUR 720 million (previous forecast: EUR 640 to EUR 700 million).
CropEnergies confirms the forecast for its results and continues to expect
an EBITDA, adjusted for special items, in a range between EUR 85 and EUR
115 million. The operating result is still expected in a range between EUR
50 and EUR 80 million while restructuring costs and special items are
expected to significantly decrease compared to the previous year.
The full report for the 1st half 2016/17 will be published on 12 October
2016.
CropEnergies AG
Ensuring mobility in a climate friendly way - today and in the future - is
CropEnergies' business. Founded in Mannheim, Germany, in 2006, the member
of the Südzucker Group is one of the leading European manufacturers of
sustainably produced bioethanol today. With its production capacities of
1.3 million cubic meters of bioethanol per year, CropEnergies produces
bioethanol which predominantly replaces petrol in four modern production
facilities in Germany, Belgium, the UK, and France. The highly efficient
production facilities reduce CO2 emissions by more than 60 percent on
average across the whole value-added chain compared to fossil fuel.
In addition to fuel alcohol, CropEnergies also produces 150,000 cubic
meters of high-purity neutral alcohol which is used in the beverage,
cosmetics, and pharmaceutical industry or for technical applications. At
the same time, CropEnergies is an important producer of food and animal
feed products. The raw materials which are used such as cereals and sugar
beets are completely utilized. As a result, more than 1 million tonnes of
high-quality protein food and animal feed products are manufactured every
year out of the non-fermentable components of the raw materials.
Through advanced technology and innovation CropEnergies contributes to
ensure a sustainable mobility from renewable sources today and in the
future through its main product bioethanol: mobility - sustainable.
renewable.
The CropEnergies AG (ISIN DE000AOLAUP1) has been listed at the regulated
market (Prime Standard) at the Frankfurt Stock Exchange since 2006.
Contact
Nadine Dejung Dr. Lilia Filipova-Neumann
Public Relations / Marketing Investor Relations
Tel.: +49 (621) 71 41 90-65 Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-05 Fax: +49 (621) 71 41 90-03
presse@cropenergies.de ir@cropenergies.de
22.09.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: CropEnergies AG
Maximilianstr. 10
68165 Mannheim
Germany
Phone: +49 (0)621-71 41 90 00
Fax: +49 (0)621-71 41 90 04
E-mail: info@cropenergies.de
Internet: www.cropenergies.com
ISIN: DE000A0LAUP1
WKN: A0LAUP
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
operating result of EUR 22 (previous year: EUR 26) million in the 2nd
quarter 2016/17. Compared to the 1st quarter of the current financial year,
this is an increase of EUR 2 million. Altogether, the 1st half 2016/17
reaches the same level as the successful previous year's with an operating
result of EUR 41 (previous year: EUR 40) million. The main reasons for the
stable profit development in the 1st half 2016/17 were lower raw material
and energy prices which were able to compensate for the lower prices in the
ethanol market to a large extent.
Revenues in the 2nd quarter 2016/17 were EUR 182 (previous year: EUR 193)
million and therefore lower than in the previous year, but exceeded the 1st
quarter (EUR 168 million). This leads to revenues of EUR 350 million in the
1st half 2016/17 which were lower than the previous year's revenues of EUR
390 million mainly due to lower trade volumes and lower ethanol prices.
The technical modifications of the last months have been successfully
tested in the trial run of the bioethanol plant in Wilton since July 2016.
They improve process stability and energy efficiency of the plant in
particular. This allows for the entire production capacity of the
CropEnergies Group to be operated flexibly according to market conditions
and the order situation.
Against this background, CropEnergies increases its forecast for revenues
for the financial year 2016/17 and expects them to lie between EUR 670 and
EUR 720 million (previous forecast: EUR 640 to EUR 700 million).
CropEnergies confirms the forecast for its results and continues to expect
an EBITDA, adjusted for special items, in a range between EUR 85 and EUR
115 million. The operating result is still expected in a range between EUR
50 and EUR 80 million while restructuring costs and special items are
expected to significantly decrease compared to the previous year.
The full report for the 1st half 2016/17 will be published on 12 October
2016.
CropEnergies AG
Ensuring mobility in a climate friendly way - today and in the future - is
CropEnergies' business. Founded in Mannheim, Germany, in 2006, the member
of the Südzucker Group is one of the leading European manufacturers of
sustainably produced bioethanol today. With its production capacities of
1.3 million cubic meters of bioethanol per year, CropEnergies produces
bioethanol which predominantly replaces petrol in four modern production
facilities in Germany, Belgium, the UK, and France. The highly efficient
production facilities reduce CO2 emissions by more than 60 percent on
average across the whole value-added chain compared to fossil fuel.
In addition to fuel alcohol, CropEnergies also produces 150,000 cubic
meters of high-purity neutral alcohol which is used in the beverage,
cosmetics, and pharmaceutical industry or for technical applications. At
the same time, CropEnergies is an important producer of food and animal
feed products. The raw materials which are used such as cereals and sugar
beets are completely utilized. As a result, more than 1 million tonnes of
high-quality protein food and animal feed products are manufactured every
year out of the non-fermentable components of the raw materials.
Through advanced technology and innovation CropEnergies contributes to
ensure a sustainable mobility from renewable sources today and in the
future through its main product bioethanol: mobility - sustainable.
renewable.
The CropEnergies AG (ISIN DE000AOLAUP1) has been listed at the regulated
market (Prime Standard) at the Frankfurt Stock Exchange since 2006.
Contact
Nadine Dejung Dr. Lilia Filipova-Neumann
Public Relations / Marketing Investor Relations
Tel.: +49 (621) 71 41 90-65 Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-05 Fax: +49 (621) 71 41 90-03
presse@cropenergies.de ir@cropenergies.de
22.09.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: CropEnergies AG
Maximilianstr. 10
68165 Mannheim
Germany
Phone: +49 (0)621-71 41 90 00
Fax: +49 (0)621-71 41 90 04
E-mail: info@cropenergies.de
Internet: www.cropenergies.com
ISIN: DE000A0LAUP1
WKN: A0LAUP
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of Announcement DGAP News-Service
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