CropEnergies increases revenues and lowers operating profit

CropEnergies, a bioethanol producer based in Germany, has posted increased revenues to €572.8 million for the first nine months of 2013.

That figure is €63.1 million up on the same time period in 2012, while a decline of operating profits from €70.2 million to a current €37.2 million ‘corresponds with expectations’.

The company puts the increase in revenues to high bioethanol prices and raw materials which were hedged at low prices before the profit situation levelled during the course of the current financial year.

It also acquired UK-based bioethanol producer Ensus , which increased its annual production capacity to 1.2 million m³, this summer and its facility in Wilton restarted in September.