LONDON (dpa-AFX) - CropEnergies, the member of the Suedzucker Group, said it expects significantly higher earnings for the third-quarter 2019/20 and again increased the earnings forecast for the current financial year 2019/20.
The main reason for the improvement are the significantly higher sales prices for renewable ethanol. The result also from the robust demand for climate-friendly alternatives to fossil fuels in several European countries, the company said in a statement.
The company projects the operating result for financial year 2019/20 to be in the range of 70 million euros - 90 million euros, compared to the prior estimation of 50 million euros - 75 million euros.
It expects annual revenues to be in the range of 840 million euros and 870 million euros, compared to the previous outlook of 820 million euros to 860 million euros.
The company stated that it will publish result for the first nine months of the financial year 2019/20 on 13 January 2020.
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