BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - CropEnergies AG reported operating profit of 104 million euros in the 2019/20 financial year compared to 33 million euros, previous year. EBITDA doubled to 146 million euros from 72 million euros. The company said the main reason for the increase in earnings was an increased demand for climate-friendly alternative fuels and, accordingly, higher ethanol prices.
Fiscal year revenues were 899 million euros compared to 779 million euros, last year. Ethanol production was increased to 1,002 thousand cubic metres from 967 thousand cubic metres.
CropEnergies expects a significant decline in revenues and operating profit in the current fiscal year 2020/21 due to the corona pandemic.
The Supervisory Board decided to follow the Executive Board's recommendation to propose a dividend of 0.30 euros per share for the 2019/20 financial year to the Annual General Meeting.
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