CropEnergies, one of Europe’s largest ethanol producers, reported profits of 98mn euro for the 2016/17 financial year (March – Feb), up 13% YoY and smashing previous expectations of €50-70mn.
The company stated in a press release that the results are related to higher sales and production following the re-opening of their UK based plant earlier in 2016. CropEnergie has four running ethanol facilities in Germany, Belgium, the UK, and France with a combined capacity of over 1.3mn m3/yr.
Now, the German bioethanol producer will propose to double dividends to shareholders to €0.30/share during the annual general meeting in July. Aswell as soaring profits, the company also reported an 11% YoY increase in revenue to €802mn.