CropEnergies' Q1 revenues rise 41%

Germany-based bioethanol producer CropEnergies has released its first quarter results for the 2011/12 financial year.

Revenues for Q1 reached €132.1 million – a 41% increase on the previous year's €93.5 million in revenues. The operating profit also increased, from €2.4 million to €15.3 million.

The production of bioethanol increased by 14% in Q1 2011/12 to 157,000m3, compared to 138,000m3 the previous year.

At the end of this financial year, CropEnergies expects revenues between €520 and €570 million.