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CropEnergies with growth in revenues but operating loss

CropEnergies AG, Mannheim, was able to increase revenues by 6% to €827 million (previous year: €780 million) in the financial year 2014/15 (1 March 2014 - 28 February 2015). The main reason for the growth in revenues was the increase in bioethanol production. However, very low bioethanol prices which could not be offset by lower raw material prices put a strain on the result. EBITDA decreased to €25.2 (previous year: 68.5) million. This led to a decrease in operating profit to minus €11 million (previous year: plus €35 million). In addition to this, the consolidated result was burdened by non-recurring expenditures of €37 million by the temporary standstill of the production plant in Wilton, UK. All in all, the company closes the financial year with a net loss of the year of minus €58 million (previous year: plus €12 million). Therefore, there will be no dividend payout.

In the previous financial year, CropEnergies increased production to over 1 million m3 for the first time and produced a total of 1,056,000 (previous year: 884,000) m3 of bioethanol. For the financial year 2015/16, CropEnergies expects a stabilization of earnings despite initially expected lower prices for bioethanol. The measures already in place for reducing costs, improving the risk profile and expanding the product range will contribute to this. For example, the production plant for high-purity neutral alcohol was commissioned in Zeitz at the beginning of 2015. Future customers include companies from the pharmaceutical, beverage, cosmetics and chemical industry.





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