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Profits rise at CropEnergies despite lower revenues

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CropEnergies generated revenues of €625 million in the first nine months of 2020/21.
This was lower than the €668 million generated in the previous year by the Mannheim-based company.
Due to higher ethanol sales prices and lower raw material prices than in the previous year, profits increased in the first three quarters to €109 million, €102 million in the previous year, despite the reduced business volume.
The main reasons for reduced revenues were lower sales volumes and lower sales prices for food and animal feed products sold. In the third quarter, turnover increased slightly compared to the previous year to €226 million, previous year €220 million.
CropEnergies will continue to work on the further development of its biorefineries in the coming year.
A production plant for biogenic CO2 is to come on stream in Wanze, Belgium.
CropEnergies is building the plant together with the Italian SOL Group, one of the leading European manufacturers of technical and medical gases and in the respiratory homecare sector.
CropEnergies is also investing around €50 million in another biomass power plant in Wanze in the next few years in order to be able to produce completely climate-neutrally at the site. The power plant is scheduled to go into operation in 2023.
The full report for the first nine months of the 2020/21 financial year is available to view on the CropEnergies website.