Cropenergies soars as Q2 profit triples

CropEnergies AG

12/10/2022 09:13

** Shares in Cropenergies  CE2G.DE  are up 12% as the German
biofuel producer's quarterly core profit triples 
    ** The company's Q2 EBITDA rises to 103 million euros ($100
million) from 34 million a year earlier, thanks to significantly
higher sales volumes of ethanol at increased prices  urn:newsml:reuters.com:*:nL8N31D0NX
    ** "We believe that Q2 results were excellent," Matelan
Research analyst Hartmut Moest says, noting Cropenergies has now
reached 75% of its full-year guidance at the half-year stage
    ** In September, the company's shares fell as much as 13%
after it said it might have to reduce or temporarily shut down
production at some of its ethanol plants due to rising energy
and raw material costs  urn:newsml:reuters.com:*:nL8N30Q1WE
($1 = 1.0299 euros)
 (Reporting by Bartosz Dabrowski)
 ((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))