CropEnergies reports financial results, startup of Ensus plant

By Erin Voegele | October 15, 2013

Germany-based CropEnergies AG has released financial results for the first half of its 2013-’14 financial year, which spans from March 1 through Aug. 31. The company has reported revenues of €372 million, a 16 percent increase compared to the €372 million reported for the previous half year. CropEnergies attributes the increase to higher ethanol sales volumes, as well as higher earnings for ethanol and coproducts.

In July, CropEnergies announced the acquisition of U.K.-based ethanol producer Ensus Ltd., which operates a 400 MMly (105.7 Mmgy) plant in Yarm, England. The company now operates facilities in Germany, Belgium, the U.K. and France, with a combined capacity of 1.2 million cubic meters of ethanol per year. 

Within its financial statement, the CropEnergies noted that it began startup activities at the Ensus site in late September. Since the acquisition closed in July, CropEnergies has been performing extensive maintenance and optimization activities.

During the most recent half year, CropEnergies produced 377,000 cubic meters of ethanol, down slightly from 380,000 cubic meters the prior year. In its financial statement, the company noted that production at its facility in Zeitz, Germany, was temporarily idled in June due to flooding.

CropEnergies operating profit decreased by 30 percent to €26 million during the first half of the 2013-’14 financial year. During the same period of last year, the company posted €37 million in profits.