CropEnergies confident about Germany E10, despite low market share

11 October 2011 17:05  [Source: ICIS news]

LONDON (ICIS)--CropEnergies is confident about the prospects for 10%-bioethanol-blended gasoline (E10) in Germany – despite the fuel’s market share being only 10%, the Mannheim-based biofuels producer said on Tuesday.

E10, which has been approved for sale at the pump in Germany since 1 January 2011, was available at only about half of the country’s 14,000 petrol stations as of 30 June, CropEnergies said in an update.

In total, 906,000 tonnes of E10 were sold in Germany in the first six months of the year, for a 10% market share, the company said.

E10 was initially available mainly in eastern and southern Germany, but since August Germany’s refiners have stepped up efforts to roll out the fuel’s availability in the north and west of the country as well.

CropEnergies said with country-wide availability, E10 sales and market share will increase, thus boosting its revenue and profit.

For the fiscal year ending 29 February 2012, CropEnergies expects revenue in the range of €520m–€570m ($712m–$781m) – compared with €430m for the 12 months to 28 February 2011.

In the first six months ended 31 August, CropEnergies reported a 28% year-on-year increase in revenue, to €275.2m, mainly driven by higher prices for bioethanol and animal feed products, it said.

($1 = €0.73)

Check out Doris de Guzman’s Green Chemicals blog for views on sustainability issues

By: Stefan Baumgarten
+1 713 525 2653

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