German ethanol producer reports increased 9-month profits

German ethanol producer CropEnergies AG announced positive results for the third quarter of its financial year, with a jump in third quarter revenues from 168 million euros last year to 215 million euros in the current year. Revenues for the first nine months of the fiscal year at 565 million euros are slightly above last year’s 558 million euros. Operating profits for the nine months reach 59 million euros, down slightly from the previous year’s nine-month profits of 63 million euros.

Against the background of these positive developments, CropEnergies increases its forecast for the current financial year and now expects revenues between 760 million and 790 euros and an operating profit in a range of 70 million to 85 million euros.  The full report for the first nine months of the financial year 2016-’17 will be published Jan. 11.

Founded in Mannheim, Germany, in 2006, CropEnergies has a total capacity of 1.3 million cubic meters (345 million gallons) at its four facilities in Germany, Belgium, the U.K. and France. The company reports its efficient production facilities reduce CO2 emissions by more than 60 percent of average compared to fossil fuel.

In addition to fuel ethanol, the company produces 150,000 cubic meters of high-purity alcohol used in the beverage, cosmetic and pharmaceutical industries. Using cereals and sugar beets as feedstock, more than 1 million tons of high-quality protein food and animal feed products are manufactured from the nonfermentable components.