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Biofuel manufacturers with higher costs: profit falls

2021-10-13T08:21:19.948Z


At the biofuel manufacturer Cropenergies, higher raw material costs and increased energy prices have put pressure on the results. The bottom line in the second fiscal quarter (June to August) was more than halved, with 14.7 million euros, the Südzucker subsidiary announced on Wednesday. In the previous year, the company had reported around 31.5 million euros.


At the biofuel manufacturer Cropenergies, higher raw material costs and increased energy prices have put pressure on the results.

The bottom line in the second fiscal quarter (June to August) was more than halved, with 14.7 million euros, the Südzucker subsidiary announced on Wednesday.

In the previous year, the company had reported around 31.5 million euros.

Mannheim - Cropenergies had already presented key data for the past quarter in mid-September and raised its annual targets.

As already known, Cropenergies had sales of around 249 million euros in the second quarter, a good 9 percent more than a year earlier.

The operating result, on the other hand, shrank by almost half to 23.3 million euros due to higher raw material and energy prices.

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The operating result should move between 65 million and 90 million euros and the earnings before interest, taxes, depreciation and amortization (Ebitda) between 105 million and 135 million euros.

dpa

Source: merkur

All news articles on 2021-10-13

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