Brief: CropEnergies Doubles 9M EBITDA, Operating Profit Thanks To Higher Sales Volumes

CropEnergies AG

11/01/2023 06:19

Jan 11 (Reuters) - CropEnergies AG  CE2G.DE :
    * IN FIRST NINE MONTHS FINANCIAL YEAR (1 MARCH 2022 - 28
FEBRUARY
2023), CROPENERGIES AG, MANNHEIM, GENERATED REVENUES OF EUR
1,177 (PREVIOUS YEAR: EUR 781) MILLION
    * IT WAS POSSIBLE TO MORE THAN DOUBLE BOTH 9M EBITDA OF EUR
267
(PREVIOUS YEAR: EUR 125) MILLION 
    * 9M OPERATING PROFIT ALSO DOUBLED TO EUR 235 MILLION
(PREVIOUS
YEAR: EUR 94 MILLION) 
    * MAIN REASON FOR THIS WERE HIGHER SALES VOLUMES AND SALES
PRICES
OVERALL, BOTH FOR SUSTAINABLY PRODUCED ETHANOL AND FOR FOOD AND
ANIMAL FEED PRODUCTS SOLD
    * WITH REVENUES OF EUR 328 MILLION (PREVIOUS YEAR: EUR 318
MILLION) IN Q3, CO WAS AGAIN ABLE TO EXCEED PREVIOUS YEAR'S
FIGURE, BUT FELL SHORT OF FIGURES FOR PREVIOUS QUARTERS
    * FURTHER SUBSTANTIATES OUTLOOK, NOW EXPECTS AN OPERATING
PROFIT
OF EUR 225 MILLION TO EUR 255 MILLION (PREVIOUSLY EXPECTED: EUR
215 MILLION TO EUR 265 MILLION, PREVIOUS YEAR: EUR 127 MILLION)
FOR FY 2022/23
    * SEES IN VIEW OF CONTINUING HIGH ENERGY AND RAW MATERIAL
COSTS
AND RECENT DECLINE IN ETHANOL PRICES, PRESSURE ON EARNINGS IS
NOW INCREASING
    * SEES OUTLOOK IS BASED ON ASSUMPTION THAT MOBILITY
BEHAVIOUR WILL
CONTINUE TO NORMALISE
    * SEES EFFECTS OF UKRAINE WAR REMAIN DIFFICULT TO ASSESS

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