26.03.2018
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DGAP-Adhoc: CropEnergies proposes EUR 0.25 dividend and expects operating profit of EUR 30 to 70 million for financial year 2018/19 despite lower ethanol prices
DGAP-Ad-hoc: CropEnergies AG / Key word(s): Forecast/Dividend
CropEnergies proposes EUR 0.25 dividend and expects operating profit of EUR
30 to 70 million for financial year 2018/19 despite lower ethanol prices
26-March-2018 / 12:14 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, 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, 26 March 2018 - According to preliminary results, CropEnergies AG,
Mannheim, has increased revenues by 10 percent to EUR 882 (previous year:
EUR 802) million in the financial year 2017/18 (1 March 2017 - 28 February
2018). The main reason for the increase was the ethanol production which has
risen by 12 percent to 1,149,000 (previous year: 1,030,000) cubic meters.
The production of protein food and animal feed products increased
accordingly and has now reached a share of approx. 45 percent of the total
volume produced.
With EUR 72 (previous year: EUR 98) million, operating profit came out
within the projected range and below the previous year's record result.
Given an EBITDA of EUR 111 (previous year: EUR 135) million, net financial
assets improved to EUR 37 million (previous year: net financial debt of EUR
9 million).
In today's meeting, the executive board of CropEnergies AG has decided to
propose a dividend of EUR 0.25 (previous year: EUR 0.30) per share for the
financial year 2017/18 to the annual general meeting on 17 July 2018,
subject to a respective resolution of the supervisory board (expected on 14
May 2018). This currently corresponds to a dividend yield of approx. 4
percent.
For the financial year 2018/19 started on 1 March 2018, prices for
sustainably produced, climate friendly ethanol are expected to be below the
previous year's level. However, prices for protein food and animal feed
products should remain on a high level. With revenues expected between EUR
840 and EUR 900 million, CropEnergies thus anticipates an EBITDA in a range
of EUR 70 to EUR 110 million and an operating result between EUR 30 and EUR
70 million for the financial year 2018/19.
The full report for the financial year 2017/18 will be published on 16 May
2018.
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 the leading European manufacturer 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 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 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 DE000A0LAUP1) has been listed at the regulated
market (Prime Standard) at the Frankfurt Stock Exchange since 2006.
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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26-March-2018 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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668617 26-March-2018 CET/CEST
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