German bioethanol business records positive yearly results

Germany-based bioethanol manufacturer CropEnergies has posted a new record level for its first half of this financial year.

The final figure announced by the company was €319.9 million ($412 million), which was an increase of 16% during March and August compared to 2011. Its operating profit improved by 28% to €37.2 million and its net financial debt has been reduced by €37.3 million to €121.1 million despite a dividend payout in July.

CropEnergies puts these positive results down to its diverse supply chain as it provides not only bioethanol for fuel but the food sector with vegetable proteins.

A total of 380,000 cubic metres of bioethanol was manufactured in the first financial half of 2012, which represented a 24% increase on the previous time period.