MANNHEIM (dpa-AFX) – After a record year, CropEnergies is now faced with lower sales prices for ethanol and lower sales volumes in the first quarter of the new financial year. The group’s sales and profits have fallen significantly, as Cropenergies announced on Wednesday in Mannheim. Accordingly, sales fell in the first quarter (until the end of May) by 78 million euros to 321 million euros. The operating result collapsed from 87 to 14 million euros. The bottom line was a profit of 11 million euros after the record values from the previous year. In the same period last year it was just under 65 million.
While Cropenergies was still able to benefit from early price hedging in the previous year, the price increase in raw material expenses driven by the Ukraine conflict is now also reflected in the figures, management said. However, the group confirmed its forecast for the current year. For the year as a whole, Cropenergies’ raw material and energy costs are likely to be around the previous year’s level.
Cropenergies is still targeting sales of between EUR 1.27 and 1.37 billion for the 2023/24 financial year (previous year: EUR 1.49). The operating result should continue to be between 95 and 145 million euros (previous year 251). Accordingly, Cropenergies expects an EBITDA of 140 to 190 million euros (previous year 294)./knd/stk
Selected leverage products on CropEnergies AG
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products on CropEnergies AG
Leverage must be between 2 and 20