CropEnergies increases earnings outlook for financial year 2019/20
Mannheim, 14 August 2019 - In view of the increased sales price for renewable ethanol, which is a sustainable alternative to fossil petrol, CropEnergies AG, Mannheim, adjusts its outlook for the current financial year 2019/20. Operating profit is expected to increase significantly and to lie in a range of EUR 50 to EUR 75 (previously expected: EUR 30 to EUR 70) million. This corresponds to an EBITDA of EUR 90 to EUR 120 (previously expected: EUR 70 to EUR 115) million.
CropEnergies furthermore expects revenues of EUR 820 to EUR 860 (previously expected: EUR 820 to EUR 900) million for the full financial year 2019/20.
Clean mobility - today and in the future - is CropEnergies' business. Founded in Mannheim, Germany, in 2006, the member of the Südzucker Group is the leading European manufacturer of sustainably produced ethanol. With its annual production capacity of 1.3 million cubic meters in its German, Belgian, UK and French facilities, CropEnergies produces ethanol which predominantly replaces petrol. The highly efficient production facilities reduce CO2 emissions by over 70 percent on average across the whole value-added chain, compared to fossil fuel.
In addition to fuel alcohol, CropEnergies produces 150,000 cubic meters of high-purity neutral alcohol which is used in the beverage, cosmetics, and pharmaceutical industry or for technical applications.
The use of local agricultural raw materials also results in more than 1 million tonnes of high-quality protein food and animal feed every year.
Through advanced technology and innovation CropEnergies contributes to ensure a sustainable mobility from renewable sources today and in the future through its main product ethanol: mobility - sustainable. renewable.
The CropEnergies AG (ISIN DE000A0LAUP1) is listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange.
ContactHeike Baumbach Investor Relations Tel.: +49 (621) 71 41 90-30 Fax: +49 (621) 71 41 90-03 email@example.com Nadine Dejung-Custance Public Relations / Marketing Tel.: +49 (621) 71 41 90-65 Fax: +49 (621) 71 41 90-05 firstname.lastname@example.org
14-Aug-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: 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: email@example.com 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 EQS News ID: 857635 End of Announcement DGAP News Service
857635 14-Aug-2019 CET/CEST