Oct 11 (Reuters) - German biofuel producer CropEnergies reported a 31% drop in second-quarter revenue on Wednesday, as ethanol prices fell from last year's record levels and scheduled maintenance shutdowns led to lower production and sales volumes.
The company's sales fell to 309 million euros ($327.57 million) in the three months to the end of August, from 450 million a year earlier.
Ethanol prices fell at the end of last year and have so far remained at lower levels.
The subsidiary of Europe's largest sugar refiner Suedzucker said it expected volatility in sales, raw materials and energy markets, which was heightened by the war in Ukraine last year, to decrease gradually.
CropEnergies, which makes ethanol and animal feed from renewable materials such as biomass, reiterated its outlook for the 2023/24 financial year, including annual revenue in a range of 1.27 billion to 1.37 billion euros. ($1 = 0.9433 euros) (Reporting by Anastasiia Kozlova and Mateusz Dobrzyniewski in Gdansk; editing by Milla Nissi)