Mannheim, 15 September 2021, 12:00 CET/CEST - CropEnergies AG, Mannheim, increases its outlook for the current financial year 2021/22 (1 March 2021 - 28 February 2022) and now expects revenues for the full financial year in a range of EUR 970 to EUR 1,010 (previously expected: EUR 925 to EUR 975) million.

Operating profit is expected to reach EUR 65 to EUR 90 (previously expected: EUR 50 to EUR 80) million, EBITDA between EUR 105 and EUR 135 (previously expected: EUR 90 to EUR 125) million. The main reason for the improved revenue and earnings expectation is the significant increase in ethanol sales prices. The introduction of E10 in Sweden in August 2021 and in the UK in September 2021 has recently led to higher demand.

In the 2nd quarter of the current financial year 2021/22, CropEnergies achieved revenues that increased to EUR 249.2 (previous year: EUR 228.5) million, according to preliminary figures. Operating profit, however, could not match the record level of the previous year's period and reached EUR 23.3 (previous year: EUR 42.6) million. The significantly higher net raw material cost and the recent rise of energy prices to record levels were the main burdens on the results.

The full report for the 1st half of 2021/22 will be published on 13 October 2021.

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CropEnergies AG published this content on 15 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 September 2021 10:31:01 UTC.