CropEnergies : expects significant increase in earnings in 1st quarter

Mannheim, 14 April 2022, 13:15 CET/CEST- CropEnergies AG, Mannheim, expects a significant increase in revenues, EBITDA and operating profit for the 1^st quarter after an encouraging start into the 2022/23 financial year (1 March 2022 to 28 February 2023).

In the same quarter of the previous year, CropEnergies had generated an EBITDA of EUR 25 million euros and an operating result of EUR 15 million euros on a revenue of EUR 214 million.

As a result of an incipient weakening of the Corona pandemic, CropEnergies expects a normalisation of mobility behaviour in the course of the 2022/23 financial year. However, the impact of the Ukraine war on sales, energy and raw material markets is difficult to assess. CropEnergies assumes, from today's perspective, that sufficient energy and raw materials will be available for the production of food and animal feed products as well as renewable ethanol. Furthermore, it is expected that the EU member states will essentially maintain their blending targets for biofuels and that this will continue to lead to high capacity utilisation. In addition, CropEnergies assumes that higher energy and raw material costs can continue to be compensated by higher sales prices for ethanol as well as for food and animal feed products.

Against this background, CropEnergies expects revenues of EUR 1.35 to EUR 1.45 (previous year: EUR 1.08) billion and an operating result of EUR 105 to EUR 155 (previous year: EUR 127) million for the 2022/23 financial year. This corresponds to an EBITDA of EUR 145 to EUR 195 (previous year: EUR 169) million.

The full report for the 2021/22 financial year will be published on 18 May 2022. The statement on the 1^st quarter of 2022/23 will be published on 6 July 2022.