CropEnergies’ 2Q profit triples thanks to major sales boost

In Germany, Reuters reports that CropEnergies’ profits on ethanol production tripled during the second quarter to more than $100 million EBIDTA, sending its shares up 12% on the Frankfurt Stock Exchange. Although energy and feedstock costs have increased significantly, a major increase in sales volumes led to the soaring profit during the three months through August. Even though only at the half-way point through the year, the company has already reached 75% of its guidance target.