Biofuel maker CropEnergies slashes Q3 forecast on normalised prices

CropEnergies AG

18/10/2023 12:23

Oct 18 (Reuters) - Biofuel maker CropEnergies  CE2G.DE 
cuts its third quarter expectations due to normalised prices for
sustainably produced ethanol compared to the high price level
last year.
    The company now expects a significant reduction in revenues,
EBITDA and operating profit in the third quarter of the 2023/24
financial year.
    The subsidiary of Europe's largest sugar refiner Suedzucker
 SZUG.DE  reported 31% drop in second quarter sales earlier this
month, citing a fall in ethanol prices and the impact of
shutdowns for maintenance.

 (Reporting by Anastasiia Kozlova and Amir Orusov, Editing by
Friederike Heine)
 ((Anastasiia.Kozlova@thomsonreuters.com;
Amir.Orusov@thomsonreuters.com))