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CropEnergies: Profit warning for the current financial year

The new measures to contain the corona pandemic are providing CropEnergies with a profit warning. The prerequisites for achieving the previous forecast for the 2020/2021 financial year were persistently robust demand for ethanol and the absence of any further significant mobility restrictions in the EU. “Due to the second wave of infections of the corona pandemic and the current developments as well as the associated restrictions, CropEnergies has to adjust the forecast,” said the S├╝dzucker subsidiary on Monday.

According to the new forecast, CropEnergies expects sales between EUR 825 million and EUR 855 million. Operationally one wants to achieve 95 million euros to 110 million euros profit and the EBITDA should be 135 million euros to 150 million euros. So far, the company expected sales between 850 million euros and 900 million euros, EBITDA between 150 million euros and 180 million euros and an operating profit between 110 million euros and 140 million euros.

After nine months in the 2020/2021 financial year, CropEnerhies reports a decline in sales from EUR 688 million to EUR 625 million. Nevertheless, the EBITDA was increased from 102 million euros to 109 million euros and the operating profit from 70 million euros to 79 million euros.

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With Hans-Werner Sinn, former President of the Ifo Institute: Corona and the miraculous increase in money in Europe
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