CropEnergies reports record revenues for 2021-’22 fiscal year
Summary
European ethanol producer CropEnergies AG released financial results for the fiscal year ended Feb. 28 on May 18, reporting record revenues and a significant increase in operating profits. CropEnergies attributed the strong financial performance to a sharp rise in ethanol prices during the second half of the fiscal year, which more than offset increases in raw material and energy costs. The four facilities are located in Wilton, U.K.; Loon-Plage, France; Wanze, Belgium; and Zeitz, Germany. CropEnergies also addressed calls by some European politicians to reduce the use of crop-based biofuels, including ethanol, in an effort to bring down grain prices. In the current situation, failed supplies from the war zone, such as sunflower meal, can also be replaced."