13.02.2017
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DGAP-Adhoc: CropEnergies increases forecast for financial year 2016/17 once more - After record year 2016/17, normalization expected for 2017/18
DGAP-Ad-hoc: CropEnergies AG / Key word(s): Change in Forecast/Forecast
CropEnergies increases forecast for financial year 2016/17 once more - After
record year 2016/17, normalization expected for 2017/18
13-Feb-2017 / 13:41 CET/CEST
Disclosure of an inside information acc. 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, 13 February 2017 - CropEnergies AG, Mannheim, once more increases
its forecast for the current financial year 2016/17 (1 March 2016 - 28
February 2017). The main reasons for the better earnings situation are the
spot prices for bioethanol which continue to be significantly higher than
the previously expected forward prices as well as the high capacity
utilization in all four production plants. With this, CropEnergies
strengthens its position as leading bioethanol producer in the EU. For the
full financial year 2016/17, CropEnergies now expects revenues of EUR 800
to EUR 810 (previously expected: EUR 760 to EUR 790, previous year: EUR
723) million. Operating profit is to reach EUR 95 to EUR 100 (previously
expected: EUR 70 to EUR 85, previous year: EUR 87) million. At the same
time, CropEnergies expects a record EBITDA of approximately EUR 130 to EUR
135 (previous year: EUR 122) million.
The business performance in the coming financial year 2017/18 will again be
largely dependent on the volatile developments of the prices on bioethanol
markets. The forward prices for bioethanol in Europe currently show a
significant reduction for the financial year 2017/18, though they have only
limited significance. Against this background and on the basis of current
grain prices, CropEnergies expects a normalization of the operating profit
for the financial year 2017/18 to a range of EUR 40 to EUR 80 million. This
corresponds to an EBITDA between EUR 80 and EUR 120 million. Consequently,
CropEnergies should be completely debt-free for the first time in company
history.
The annual report for the financial year 2016/17 will be published on 17
May 2017.
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 annual capacity of 1.3
million cubic meters of bioethanol, 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 approximately 70 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 cosmetics,
pharmaceutical, and beverage 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) is listed at the regulated market
(Prime Standard) at the Frankfurt Stock Exchange.
Contact:
Dr. Lilia Filipova-Neumann
Investor Relations
Tel.: +49 (621) 71 41 90-30
Fax: +49 (621) 71 41 90-03
[email protected]
Nadine Dejung-Custance
Public Relations / Marketing
Tel.: +49 (621) 71 41 90-65
Fax: +49 (621) 71 41 90-04
[email protected]
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13-Feb-2017 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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: [email protected]
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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543995 13-Feb-2017 CET/CEST
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