Biopower producer: Cropenergies benefits from high ethanol prices

The biofuel manufacturer Cropenergies made strong gains in the second quarter.

Biopower producer: Cropenergies benefits from high ethanol prices

The biofuel manufacturer Cropenergies made strong gains in the second quarter. Sales increased in the second business quarter (end of August) from 249 million to 450 million euros, as the Südzucker subsidiary announced on Wednesday in Mannheim. The operating result reached a new record of EUR 93 million after EUR 23 million in the previous year, as did sales. The company benefited from significantly higher sales of ethanol and a significant increase in the prices achieved for it. According to the information, the quantities and revenues for protein-containing food and feed could also be increased significantly.

Cropenergies confirmed the forecast for the year. However, the pressure on costs is increasing in view of the high energy and raw material prices. As already known, the company is therefore checking the capacity utilization of its plants. In addition, the Südzucker subsidiary called on politicians to support companies with energy-intensive production and to ensure equal competitive conditions on the European ethanol market.

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