DGAP-Adhoc: CropEnergies reaches targets for financial year

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Apr 8, 2014 at 3:00 AM

DGAP-Adhoc: CropEnergies reaches targets for financial year 2013/14 - Challenging market conditions impair forecast for 2014/15

CropEnergies AG / Key word(s): Final Results/Forecast 08.04.2014 08:49 Dissemination of an Ad hoc announcement according to Â§ 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Mannheim, 8 April 2014 - With a growth in revenues of 13 percent to EUR 781 (previous year: 689) million, CropEnergies AG, Mannheim, has reached its targets for growth in the financial year 2013/14 (1 March 2013 - 28 February 2014). The decrease of the operating profit to EUR 34.5 (previous year: 87.0) million also corresponds to the forecast which had been adapted in December 2013. As CropEnergies communicated in the ad-hoc announcement in December 2013, bioethanol prices in Europe have significantly decreased not least because of US imports via Norway which circumvent import duties. The failure of the EU to consistently pursue its goal to reduce the amount of fossil fuels used in the transport sector also adds to the current market environment. The continuing discussion in Brussels slows down market growth since many member states hesitate to increase the biofuels share and e.g. introduce E10 into the market. Failing to introduce a higher share of biofuels ignores the potential to lower greenhouse gas emissions quickly and cost-effectively. Bioethanol prices in Europe are currently lower than the ones in the large bioethanol countries Brazil and the USA. Even more, bioethanol is cheaper than petrol in Europe. Due to the fact that grain prices have developed a side trend while bioethanol prices have started to decrease, the earnings situation of European bioethanol producers has significantly worsened. As a result, CropEnergies expects the consolidation of the industry to continue but, as a leading producer, is well prepared for this difficult time. The high volatility of bioethanol prices makes the outlook for the financial year 2014/15, which has started in 1 March 2014, more difficult. Due to the growth in production capacity, a further increase in revenues to EUR 850 million is expected. From today's point of view, CropEnergies expects the EBITDA to reach EUR 10 to 60 million. After depreciation, this should result in an operating profit/loss of EUR minus 30 to EUR plus 20 million. The annual report for the financial year 2013/14 will be published on 13 May 2014. CropEnergies AG Ensuring mobility in a climate friendly way - today and in the future - is CropEnergies' business. Founded in Mannheim, Germany, in 2006, the young and dynamically growing member of the SÃ¼dzucker Group is one of the leading European manufacturers of sustainably produced bioethanol for the fuel sector today. With its production capacities of 1.2 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 up to 70 percent across the whole value-added chain compared to fossil fuel. With the production sites, the unique logistics network in Europe as well as trading offices in the USA and Brazil, CropEnergies is one of the leading companies in a major emerging market. 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 stock (ISIN DE000AOLAUP1) has been listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange since 2006. Contact: Investor Relations Tel.: +49 (621) 71 41 90-30 Fax: +49 (621) 71 41 90-03 ir@cropenergies.de Public Relations / Marketing Nadine Dejung Tel.: +49 (621) 71 41 90-65 Fax: +49 (621) 71 41 90-04 presse@cropenergies.de 08.04.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: CropEnergies AG Gottlieb-Daimler-Str. 12 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: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, DÃ¼sseldorf, Hamburg, MÃ¼nchen, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

D-Wave's Legal Trouble: Securities Fraud Suit Looms

A Looming Legal Storm for D-Wave Investors Call it another day, another legal tangle in the investing world. This time, it's D-Wave Quantum Inc. (NASDAQ: QBTS) on the receiving end of a securities fraud class action lawsuit. Yeah, those fancy quantum computers they're pushing didn't predict this one coming. The legal arena is getting ready for a bout, and if you've got...

Off-Broadway Play 'DUST' Raises Autism Support Funds

Here's the scoop: an Off-Broadway production just did something many big hitters can't pull off. 'DUST,' a show crafted like a love letter to the American West, managed to rustle up $30,000 for young adults grappled with autism. Partnering with no less than Yale's Cultural Autism Studies and the Ed Asner Family Center, this effort hit the mark in more ways than one. An...

Moon Base Ambitions: Impulse Space Wins Key NASA Contracts

NASA's Vision and Impulse's New Role Ever think you'd see a company like Impulse Space set to play a starring role in humanity's return to the lunar surface? Well, strap in because this isn't just a pipe dream anymore. NASA's bold plan to establish a Moon Base has taken a tangible step forward with Impulse winning two hefty task orders. This ain't just peanuts—this duo...

Historic Records Set at 2026 CNO Monumental Marathon

Race to Remember: Monumental Breakthroughs In the chilly November air of Indianapolis, the 2026 CNO Financial Indianapolis Monumental Marathon wasn't just another tick on the calendar—this was a banner day for running. With record-breaking performances across every distance, we saw what happens when a community of athletes, sponsors, and volunteers hits a perfect...

Invasive Procedures Don't Extend Life in Stable Heart Disease

Challenging Longstanding Beliefs Today’s news from the heart research front might set a few cardiology heads spinning. We’ve got big-time findings out of the ISCHEMIA-EXTEND study, throwing more weight on the evidence pile that early invasive heart procedures for patients with stable coronary artery disease don’t actually extend your life. Managing care with a blend...

Evaluating GLP-1 Telehealth? Key Questions to Consider

Navigating the Landscape of GLP-1 Telehealth Providers In the sprawling jungle of telehealth options for GLP-1 care, it's easy to feel like you're drowning in sameness. Picture this: you land on a sleek page promising the moon and stars, but who knows what's behind the curtain? That's where seasoned advice comes in, like a compass in this murky digital forest. Meant, a...

MWC26 Doha: Bridging Standards for MENA's Future

MWC26 Doha Launches with a Connectivity Mission Forget corporate boardrooms; the real action this week is unfolding in Doha's bustling exhibition halls. Kicked off with the fanfare you'd expect from such a key event, MWC26 Doha has drawn a crowd that's got both tech geeks and policy wonks nodding with interest. This ain’t your average trade show: it’s the melting pot...

NatGold Pulling NATG From MEXC Amid Security Concerns

NatGold Digital's sudden decision to yank its NATG token off MEXC Global reeks of regulatory urgency. With the U.S. Treasury clamping down on fund transfers wrapping up MEXC in their action against Russian laundering, NatGold didn't wait for the ink to dry on that order. They’re off the exchange posthaste. A bit of foresight or sheer necessity? Well, it's got the market...

TCL's Display Future: AI Meets Screens at DTC 2026

Exploring New Horizons in Display Technology There's something brewing in Wuhan: a conference that’s shaping up like a tech enthusiast’s dream. This year, it's all about the symbiosis of cutting-edge tech and dazzling visuals as TCL CSOT gears up to unveil advancements at the Global Display Tech-Ecosystem Conference (DTC) 2026. If you're wondering whether this event...

Intelligent Communication Forum Eyes Global Ecosystem Shift

China's Grand Vision for Intelligent Communication You know what they say about big ideas—they start in the most bustling of places. And here we are in Wuxi, a city's pulse pounding with ambition, hosting the 2026 China International Intelligent Communication Forum. Picture it: From November 8th to 10th, movers, shakers, and visionaries are scribbling new blueprints for...