DGAP-News: CropEnergies AG / Key word(s): AGM/EGM/Dividend
Mannheim, 16 July 2019 - The shareholders of CropEnergies AG, Mannheim, approved by a large majority the proposal of the supervisory board and the executive board to distribute EUR 0.15 (previous year: EUR 0.25) per share entitled to dividend. This results in a total payout of EUR 13.1 million. All other agenda items were also adopted by a majority of over 99 percent. Around 600 shareholders and guests attended the annual general meeting in the Congress Center Rosengarten in Mannheim. Overall, 82 percent of the share capital was represented.
In addition to the annual financial statement for 2018/19, shareholders were particularly interested in developments in the current 2019/20 financial year. CropEnergies has started into the current financial year 2019/20 with a strong 1st quarter and, due to the expectations of slightly higher prices for sustainably produced, climate friendly ethanol, expects revenues of EUR 820 to EUR 900 million and an operating profit of EUR 30 to EUR 70 million. This corresponds to an EBITDA of EUR 70 to EUR 115 million.
In addition, the annual general meeting placed particular focus on the opportunities that are provided for sustainably produced, renewable ethanol in an environment, in which climate protection takes up ever more space in political discussions. The political framework on a European level has been put into place, now the implementation in the member states has to be promoted quickly and constructively. Because a comprehensive use of E10 not only reduces greenhouse gas emissions, it also improves air quality. A study commissioned by the German ethanol association BDBe and published in April 2019 showed that by using Super E10, nitrogen oxide emissions decreased by 25 percent and particulate emissions even by more than 70 percent compared to Super (E5).
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 over 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.
16.07.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||841987|
|End of News||DGAP News Service|