BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - CropEnergies AG said, based on preliminary data, its first-quarter operating profit was significantly higher year-on-year due to recovered ethanol prices. The company also issued a more precise forecast for the current fiscal year.
First-quarter operating profit was at 15.2 million euros compared to 4.6 million euros, previous year. EBITDA increased to 25.8 million euros from 14.3 million euros. Revenues increased to 203 million euros from 192 million euros, a year ago.
For the current fiscal year, the company projects: revenues in a range of 820 million euros to 900 million euros, operating profit of 30 million euros to 70 million euros, and an EBITDA of 70 million euros to 115 million euros.
CropEnergies AG, the member of the Südzucker Group (SUEZF.PK), is the leading European manufacturer of sustainably produced ethanol. It is listed at the regulated market at the Frankfurt Stock Exchange.
Copyright RTT News/dpa-AFX