Brief: Cropenergies 9M Ebitda Decreased To EUR 94 Mln

CropEnergies AG

10/01/2024 06:05

Jan 10 (Reuters) - CROPENERGIES AG  CE2G.DE :
    * SIGNIFICANT REDUCTION OF REVENUES AND RESULTS IN FIRST
NINE
MONTHS OF FINANCIAL YEAR 2023/24
    * GENERATED REVENUES OF EUR 943 (PREVIOUS YEAR: EUR 1,177)
MILLION
IN FIRST NINE MONTHS OF FINANCIAL YEAR 2023/24 (1 MARCH 2023 -
29 FEBRUARY 2024)
    * EBITDA DECREASED SIGNIFICANTLY TO EUR 94 (PREVIOUS YEAR:
EUR
267) MILLION, OPERATING PROFIT WAS REDUCED TO EUR 61 (PREVIOUS
YEAR: EUR 235) MILLION.
    * MAIN REASONS FOR THIS WERE SIGNIFICANTLY DECREASED ETHANOL
SALES
PRICES AND PLANNED MAINTENANCE STOPPAGES
    * ETHANOL PRODUCTION REACHED 722 (PREVIOUS YEAR: 811)
THOUSAND
CUBIC METRES
    * CONTINUES TO ASSUME THAT INCREASED VOLATILITY ON SALES
    * OUTLOOK: EXPECTS REVENUES OF 1.23 TO 1.25 (PREVIOUS YEAR:
EUR
1.49) BILLION
    * INTRODUCTION OF E10 IN OTHER EUROPEAN COUNTRIES CONTINUES
TO
POINT TO STABLE SALES OF FUEL ETHANOL, ALTHOUGH THIS IS STILL
OFFSET BY HIGH IMPORT VOLUMES
    * OUTLOOK: OPERATING PROFIT IS EXPECTED TO LIE BETWEEN EUR
40 AND
EUR 60 (PREVIOUS YEAR: EUR 251) MILLION

Source text for Eikon:  ID:nPex2hFwta 
Further company coverage:  CE2G.DE 

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