CropEnergies releases third quarter financial report

By Tim Albrecht | December 21, 2017

CropEnergies, a leading European manufacturer of ethanol, released its third quarter financial report Dec. 15. The company saw an operating profit of 12 million euros ($14.3 million), which was a decline from last year’s third quarter profit of 18 million euros. Despite the dip, CropEnergies’ profits on the year are equal to last years at 59 million euros.

Revenues in the third quarter were on pace of last year’s totals, at 219 million euros. The previous year saw a revenue of 215 million euros in the third quarter. For the first nine months, revenues increased to 679 million euros, with 565 million the previous year.

CropEnergies expects between 65 to 85 million in operating profits for the entire financial year. Revenues is expected to finish at 880 to 920 million euros at the end of the year.

CropEnergies CEO, Joachim Lutz, says in the third quarter, CropEnergies developed as planned and is in line with the expectations given earlier in the year.

With its production capacities of 1.3 million cubic meters (343 million gallons) per year, CropEnergies produces ethanol at four production facilities in Germany, Belgium, the United Kingdom and France.

The full report for the first three quarters of the CropEnergies financial year will be published on Jan. 10, 2018.