CropEnergies weathers COVID-19 with record results
CropEnergies generated revenues of €833 million in the 2020/21 financial year and an operating profit of €107 million, despite the challenging market environment.
This compared with revenues of €899 million and an operating profit of €104 million in the previous 12 months.
Despite the extended maintenance shutdown in Wanze at the beginning of the 2020/21 financial year due to the pandemic, ethanol production of 987 thousand cubic metres (TCM) was roughly at the previous year's level at 1,002 TCM.
CropEnergies has experienced an increase in demand for climate-friendly fuels, and thus also a high demand for renewable ethanol this year.
The German company, based in Mannheim, said it assumed that the trend towards sustainability – in mobility but also in other areas of daily life – would become increasingly important and it was taking this into account in its further developed strategy. In the future, the focus will no longer be solely on mobility and fuel substitutes, but will be expanded to include other business areas – innovations from biomass, the firm added.
These include, for example, sustainable ethanol downstream products, the increased use of biogenic CO2 from fermentation, or new protein products for the food and animal feed industries.
In addition, CropEnergies is investing in climate-neutral production. It is investing €75 million over the next four years in order to save greenhouse gases at all of its locations.
This compared with revenues of €899 million and an operating profit of €104 million in the previous 12 months.
Despite the extended maintenance shutdown in Wanze at the beginning of the 2020/21 financial year due to the pandemic, ethanol production of 987 thousand cubic metres (TCM) was roughly at the previous year's level at 1,002 TCM.
CropEnergies has experienced an increase in demand for climate-friendly fuels, and thus also a high demand for renewable ethanol this year.
The German company, based in Mannheim, said it assumed that the trend towards sustainability – in mobility but also in other areas of daily life – would become increasingly important and it was taking this into account in its further developed strategy. In the future, the focus will no longer be solely on mobility and fuel substitutes, but will be expanded to include other business areas – innovations from biomass, the firm added.
These include, for example, sustainable ethanol downstream products, the increased use of biogenic CO2 from fermentation, or new protein products for the food and animal feed industries.
In addition, CropEnergies is investing in climate-neutral production. It is investing €75 million over the next four years in order to save greenhouse gases at all of its locations.
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