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CropEnergies: Sales decrease, quarterly profit increases significantly

CropEnergies reports a decline in sales from 245 million euros to 229 million euros for the 2nd quarter of the 2020/2021 financial year. The Südzucker subsidiary reports that lower sales volumes and lower revenues for the food and feed sold are responsible for the decline in sales. The operating result, on the other hand, thanks to the developments in the ethanol business, shows an increase in profits from 28.6 million euros to 42.6 million euros, the highest quarterly result in the company’s history.

In the 2020/2021 financial year, CropEnergies expects sales of between EUR 850 million and EUR 900 million. Operationally one wants to increase the profit to 110 million euros to 140 million euros, the EBITDA should be between 150 million euros and 180 million euros. “The prerequisite for this positive development is that the robust demand for ethanol continues and that there are no major mobility restrictions in the EU again during the financial year,” the company said on Wednesday about the outlook.

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