While the overall markets have been hit hard at times in the current year, there is also a comparatively small selection of titles that even marked new record highs in 2022. This includes, for example, the stock of CropEnergies (WKN: A0LAUP / ISIN: DE000A0LAUP1).
The shares of the company, which is listed in the SDAX small-cap index, last rose to an all-time high of EUR 16.66 in August. After a subsequent setback to 12 euros, the price was able to recover at times to around the 15 mark by the end of October. Accordingly, new historical tops could follow shortly, especially since there is also ongoing positive news from the operational side.
CropEnergies achieves new sales and profit records
The biofuel manufacturer announced in mid-October that revenues in the second quarter of 2022/2023 (as of the end of August) increased by 81 percent year-on-year to EUR 450 million, which means a new record. The operating result increased from 23 to almost 93 million euros. This was also a new record result.
The Südzucker subsidiary (WKN: 729700 / ISIN: DE0007297004) is currently owned by, for example, Verbio United Bioenergy (WKN: A0JL9W / ISIN: DE000A0JL9W6), one of the big winners of the switch to renewable energies.
According to its own statements, CropEnergies benefited from significantly higher sales of ethanol and a significant increase in ethanol prices in the past quarter. According to the company, the quantities and sales of protein-containing food and feed have also increased significantly.
CropEnergies once again confirms forecast for the year
Due to the continued strong business development, the Management Board raised the forecast for the year in mid-August and has now confirmed it again.
For the current financial year 2022/2023 (as of the end of February 2023), sales are expected to be in the range of EUR 1.47 to 1.57 billion (previously: EUR 1.45 to 1.55 billion). The operating profit (EBITDA) is forecast at EUR 255 to 305 million (previously: EUR 205 to 255 million) and the operating result at EUR 215 to 265 million (previously: EUR 165 to 215 million).
According to CropEnergies, however, the pressure on costs is increasing due to the high energy and raw material prices. Therefore, the capacity utilization of the systems should be checked. In addition, the Mannheim company called on politicians to support companies with energy-intensive production and to ensure equal competitive conditions on the European ethanol market.
CropEnergies share close to new record highs
On the stock exchange stands at the CropEnergies share currently the focus is on the August 2022 all-time high of EUR 16.66. A breakout to the upside would mean a strong technical buy-signal. The next medium-term price target would then be the 20 mark.
A new technical buy signal is in the air for the CropEnergies share on the stock exchange. If the breakout above the recent all-time high of EUR 16.66 succeeds, the next price target is the 20 mark.DZ Bank is also optimistic about future share price development. After the latest figures were announced, the buy recommendation for the CropEnergies share was confirmed, with the next price target being estimated at EUR 16.50 (previously: EUR 16.30).
According to DZ Bank analyst Axel Herlinghaus, CropEnergies benefited in the first half of the year from the advantage of high selling prices and cheaply secured purchase prices. According to Herlinghaus, this good constellation will come to an end at the turn of the year, when the costs will then adjust. After weighing all the factors, the expert increased the fair share value slightly.
If you want to bet on ten stocks that are involved in the field of renewable energies, you can take a look at the following index certificate (WKN: DA0ABG / ISIN: DE000DA0ABG9) on the energy transition index. In addition to CropEnergies, this barometer also includes Verbio, Encavis, Vestas Wind and Ørsted.
Marc O. Schmidt / Image source: Cropenergies press photo
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