Brief: CropEnergies: Record Revenues At EUR 450 Mln In Q2 Of FY 2022/23

CropEnergies AG

12/10/2022 06:09

Oct 12 (Reuters) - CROPENERGIES AG  CE2G.DE :
    * REACHED RECORD REVENUES OF EUR 450 (PREVIOUS YEAR: EUR
249)
MILLION IN 2ND QUARTER OF FINANCIAL YEAR 2022/23 (1 JUNE - 31
AUGUST).
    * Q2 EBITDA TRIPLED TO EUR 103 (PREVIOUS YEAR: EUR 34)
MILLION AND
OPERATING PROFIT ALSO REACHED A NEW RECORD HIGH WITH EUR 93
(PREVIOUS YEAR: EUR 23) MILLION.
    * EBITDA IN 1ST HALF 2022/23 INCREASED SIGNIFICANTLY TO EUR
201
(PREVIOUS YEAR: EUR 59) MILLION.
    * ETHANOL PRODUCTION IN 1ST HALF 2022/23 WAS HIGHER THAN IN
PREVIOUS YEAR AT 583,000 (PREVIOUS YEAR: 520,000) CUBIC METERS
AND REVENUES INCREASED TO EUR 849 (PREVIOUS YEAR: EUR 463)
MILLION.
    * CONTINUES TO EXPECT FY OPERATING PROFIT OF EUR 215 TO EUR
265
(PREVIOUS YEAR: EUR 127) MILLION ON REVENUES OF EUR 1.47 TO EUR
1.57 (PREVIOUS YEAR: EUR 1.08) BILLION.
    * STILL SEES FY EBITDA OF EUR 255 TO EUR 305 (PREVIOUS YEAR:
EUR
169) MILLION.
    * MAIN REASON FOR IMPROVED EARNINGS EXPECTATION ARE HIGH
ETHANOL
PRICES SINCE BEGINNING OF FINANCIAL YEAR.
    * HOWEVER, IN VIEW OF MULTIPLICATION OF ENERGY AND
ELECTRICITY
PRICES IN CONJUNCTION WITH PERSISTENTLY HIGH RAW MATERIAL
PRICES, PRESSURE ON COST SIDE IS INCREASING.

Source text for Eikon:  ID:nPex11qw3a 
Further company coverage:  CE2G.DE 
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