Brief: Cropenergies FY EBITDA Up At EUR 146 Mln

CropEnergies AG

13/05/2020 09:03

May 13 (Reuters) - CROPENERGIES AG  CE2G.DE :
    * CROPENERGIES TRIPLES EARNINGS IN THE 2019/20 FINANCIAL
YEAR - 
OUTLOOK FOR CURRENT FISCAL YEAR WELL BELOW RECORD RESULT -
FIGHTING CORONAVIRUS WITH ETHANOL
    * DIVIDEND 0.30 EURPER SHARE VERSUS 0.15 EURPER SHARE YEAR
AGO
    * FY OPERATING PROFIT TRIPLED TO EUR 104 (PREVIOUS YEAR: EUR
33)
MILLION
    * FY EBITDA DOUBLED TO EUR 146 (PREVIOUS YEAR: EUR 72)
MILLION
    * REVENUES OF EUR 899 (PREVIOUS YEAR: EUR 779) MILLION IN
2019/20
FINANCIAL YEAR (1 MARCH 2019 - 29 FEBRUARY 2020)
    * ANNUAL GENERAL MEETING WILL BE HELD ON 14 JULY 2020 IN
VIRTUAL
FORM IN VIEW OF RESTRICTIONS CAUSED BY CORONAVIRUS
    * EXPECTS A SIGNIFICANT DECLINE IN REVENUES AND OPERATING
PROFIT
IN CURRENT FINANCIAL YEAR 2020/21 DUE TO CORONA PANDEMIC
    * OPERATING AND MOBILITY RESTRICTIONS IMPOSED SINCE
MID-MARCH 2020
WILL HAVE A NEGATIVE IMPACT ON SALES AND PRICES AT LEAST IN
SHORT TERM
    * AN IMPROVEMENT IN EARNINGS IS EXPECTED IN COURSE OF
FINANCIAL
YEAR, AS RESTRICTIONS ARE BEING EASED GRADUALLY IN MORE AND MORE
COUNTRIES
    * IT IS CURRENTLY NOT YET POSSIBLE TO FORESEE TO WHAT EXTENT
INCREASED AND REDUCED DEMAND WILL BALANCE OUT IN CROPENERGIES'
PRODUCT PORTFOLIO
    * EARNINGS FORECAST FOR FULL FINANCIAL YEAR 2020/21 WILL
THEREFORE
BE DEFINED IN LINE WITH COURSE OF CORONA PANDEMIC

Source text for Eikon:  ID:nEQ5xrK5Na 
Further company coverage:  CE2G.DE 

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