DGAP-Ad-hoc: CropEnergies AG / Key word(s): Dividend
Mannheim, 25 March 2019 - In today's meeting, CropEnergies AG's executive board has decided to propose a dividend of EUR 0.15 (previous year: EUR 0.25) per share for the financial year 2018/19 to the annual general meeting - subject to a respective resolution of the supervisory board which is expected for 13 May 2019. This currently corresponds to a dividend yield of approx. 3 percent.
In the financial year 2018/19, CropEnergies has, according to preliminary results, generated revenues of EUR 779 (previous year: EUR 882) million. Operating profit reached EUR 33 (previous year: EUR 72) million and thus lay in the expected range. EBITDA reached EUR 72 (previous year: EUR 111) million. Despite a strong 4th quarter, lower ethanol prices and higher raw material and energy costs resulted in reduced earnings. This led to CropEnergies temporary reducing its capacity utilization at the end of 2018 which in turn caused lower revenues.
For the next financial year 2019/20 (1 March 2019 - 29 February 2020), CropEnergies expects slightly higher prices for sustainably produced, climate friendly ethanol. With revenues forecast to be in the range of EUR 800 million to EUR 900 million, CropEnergies expects an EBITDA in the range of EUR 60 million to EUR 115 million and an operating profit in the range of EUR 20 million to EUR 70 million.
The annual report for the financial year 2018/19 will be published on 15 May 2019.
Clean mobility - today and in the future - is CropEnergies' business. Founded in Mannheim, Germany, in 2006, the member of the Südzucker Group is the leading European manufacturer of sustainably produced ethanol. With its annual production capacity of 1.3 million cubic meters in its German, Belgian, UK and French facilities, CropEnergies produces ethanol which predominantly replaces petrol. The highly efficient production facilities reduce CO2 emissions by approximately 70 percent on average across the whole value-added chain, compared to fossil fuel.
In addition to fuel alcohol, CropEnergies produces 150,000 cubic meters of high-purity neutral alcohol which is used in the beverage, cosmetics, and pharmaceutical industry or for technical applications.
The use of local agricultural raw materials also results in more than 1 million tonnes of high-quality protein food and animal feed every year.
Through advanced technology and innovation CropEnergies contributes to ensure a sustainable mobility from renewable sources today and in the future through its main product ethanol: mobility - sustainable. renewable.
The CropEnergies AG (ISIN DE000A0LAUP1) is listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange.
25-March-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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|End of Announcement||DGAP News Service|
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