CropEnergies : increases earnings outlook for financial year 2022/23

Mannheim, 11 August 2022 - CropEnergies AG, Mannheim, increases its outlook for the current financial year 2022/23 and now expects an operating profit of EUR 215 to EUR 265 (previously expected: EUR 165 to EUR 215, previous year: EUR 127) million at revenues of EUR 1.47 to EUR 1.57 (previously expected: EUR 1.45 to EUR 1.55, previous year: EUR 1.08) billion.

This corresponds to an EBITDA of EUR 255 to EUR 305 (previously expected: EUR 205 to EUR 255, previous year: EUR 169) million. The ethanol prices which have been high since the beginning of the financial year as well as the recent drop of prices at the raw material markets are the main reasons for this improved earnings outlook.

The outlook is based on the assumption of a continued normalised mobility behaviour. However, the effects of the Ukraine war remain difficult to assess. From today's perspective, CropEnergies generally assumes that sufficient raw materials will be available for the production of renewable ethanol as well as food and animal feed products. However, the further availability and price development on the energy markets are difficult to predict at the current time and against the background of political developments. Furthermore, it is expected that the EU member states will essentially maintain their blending targets for biofuels and that this will continue to enable high capacity utilisation. In addition, CropEnergies assumes that the - compared to the previous year - higher energy and raw material costs can continue to be at least partially offset by higher sales prices for ethanol and for food and animal feed products in the further course of the financial year.

The report for the 1st half 2022/23 will be published on 12 October 2022.