Brief: CropEnergies Assesses Capacity Adaptation Of Ethanol Plants

CropEnergies AG

19/09/2022 10:27

Sept 19 (Reuters) - CROPENERGIES AG  CE2G.DE :
    * ASSESSES CAPACITY ADAPTATION OF ETHANOL PLANTS
    * GIVEN MULTIPLICATION IN ENERGY AND POWER PRICES IN
COMBINATION
WITH CONTINUOUSLY HIGH RAW MATERIAL PRICES, PRESSURE ON COST
SIDE IS INCREASING
    * FROM JANUARY 2023 ONWARDS, CROPENERGIES CAN ONLY TO
DECLINING
EXTEND BENEFIT FROM HEDGING POSITIONS ENTERED BEFORE ENERGY AND
POWER PRICES SKY-ROCKETED
    * WILL CONTINUE TO CAREFULLY EVALUATE WHETHER IT WILL BE
POSSIBLE
TO MAINTAIN THE CURRENT CAPACITY UTILIZATION OF ITS PLANTS FROM
JANUARY 2023 ONWARDS
    * PARTICULAR FOCUS WILL BE ON ENSUS PLANT IN WILTON, UK, AS
INCREASED PRICES FOR NATURAL GAS AND POWER ARE PUTTING SEVERE
PRESSURE ON THIS PLANT'S PROFITABILITY
    * CONFIRMS ITS FY 2022/23 OUTLOOK AND CONTINUES TO EXPECT
OPERATING PROFIT OF EUR 215 TO EUR 265 MLN AT REVENUES OF EUR
1.47 TO EUR 1.57 BLN

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nPex6k2Dta
 Further company coverage:  CE2G.DE  

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