EnviTec Biogas shows robust performance at a high level following record years

EnviTec Biogas shows robust performance at a high level following record years

• Total output down 20.9% to EUR 352.5 million
• Revenues fall by 19.0% to EUR 337.7 million
• Earnings before taxes (EBT) at EUR 44.0 million (previous year: EUR 88.2 million)
• Dividend of EUR 0.50 per share proposed for FY 2024
• Forecast for 2025: Total output (or revenues) between EUR 330 million and EUR 370 million, EBT between EUR 25 million and EUR 35 million

Lohne/Saerbeck, 16 May 2025 – EnviTec Biogas AG (ISIN: DE000A0MVLS8) once again delivered a successful business performance in the fiscal year 2024. As anticipated, the results were below the levels of the previous years 2022 and 2023, which had been characterised by extraordinary effects. The Group’s total output declined by 20.9% to EUR 352.5 million (previous year: EUR 445.8 million), with earnings before taxes (EBT) decreasing to EUR 44.0 million (previous year: EUR 88.2 million).

Sales revenues in Own Plant Operation, the company’s largest segment, fell by 18.8% to EUR 191.6 million in the reporting period (previous year: EUR 236.1 million). Total output amounted to EUR 200.5 million (previous year: EUR 255.0 million). This decline was mainly due to lower prices of electricity and gas as well as to the continued drop in GHG quota prices. The performance of the Service segment remained at the same level as the previous year. The segment’s revenues rose by 4.0% to EUR 50.5 million (previous year: EUR 48.6 million). Total output amounted to EUR 52.2 million (previous year: EUR 50.2 million). EnviTec’s Plant Construction segment generated revenues of EUR 95.6 million (previous year: EUR 132.1 million). The reduction is mainly attributable to a lower number of completed construction projects that were finally invoiced. At EUR 99.7 million, total output was also below the previous year’s very dynamic level of EUR 140.5 million.

The segment performance led to a 19.0% decline in Group revenues to EUR 337.7 million (previous year: EUR 416.8 million). The Group’s total output, which additionally includes the value of projects under construction, also declined by 20.9% to EUR 352.5 million, down from the previous year’s record of EUR 445.8 million.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) totalled EUR 67.3 million (previous year: EUR 116.1 million). Earnings before taxes (EBT) stood at EUR 44.0 million, compared to EUR 88.2 million in FY 2023. Consolidated net income for the year amounted to EUR 29.8 million (previous year: EUR 64.1 million). Earnings per share declined from EUR 4.31 in the previous year to EUR 2.01 in the reporting year.

Besides its operating activities, the company again placed a special focus on continuing its investment programme during the reporting year. Following the successful start-up of the large-scale bio-LNG and LCO₂ plant in Güstrow, another four of the company’s own plants are being converted into gas upgrading plants with integrated CO₂ liquefaction. Two of these projects with a total investment volume of roughly EUR 50 million were successfully completed in the first quarter of 2025. In the coming years, these strategic investments will contribute to a sustained increase in revenues and earnings in the Own Plant Operation segment.

As at the balance sheet date of 31 December 2024, the EnviTec Group’s total assets amounted to EUR 413.8 million (31 December 2023: EUR 417.3 million). At EUR 184.4 million the equity capitalisation remained very solid. The equity ratio stood at 44.6% at the end of 2024 (31 December 2023: 48.1%). Cash and cash equivalents declined to EUR 26.6 million (31 December 2023: EUR 85.3 million) as a result of the dividend distribution in 2024 and the current investment programme.

“As anticipated, the fiscal year 2024 marks a return to normality after two exceptionally unusual years,” said Jörg Fischer, CFO of EnviTec Biogas AG. “However, the success of our work and business model is also evident in the fact that, even amidst changing conditions, all our segments once again delivered a successful overall performance, clearly surpassing the levels of previous years in a multi-year comparison. Furthermore, we utilised the period of high profitability to establish a strong foundation for the future development of our Group by entering new markets and business segments and making selective investments.”

The political framework conditions, which are crucial for the biogas sector, have developed unevenly recently. In Germany, the ‘biomass package’ adopted in January 2025 and the clear commitment to bioenergy in the new federal government’s coalition agreement marked the first significant progress in years. However, in key foreign markets such as the USA, the situation is characterised by considerable regulatory uncertainty, leading to noticeable spending restraint among customers. This is evident in the Plant Construction’s order backlog, which fell sharply from EUR 208.0 million at the end of 2023 to EUR 129.0 million in late December 2024.

Considering the mixed framework conditions alongside the current investment programme and the normalised business performance, the Executive Board and the Supervisory Board of EnviTec Biogas AG propose paying out a reduced dividend of EUR 0.50 per share for the fiscal year 2024.

“We continue to see a large number of opportunities for our company, particularly in the areas of application for biomethane,” said Olaf von Lehmden, CEO of EnviTec Biogas AG. “This is why we will again invest in this area this year and complete the conversion of another two of our own plants. For the further development of our industry and our company, it is crucial that the positive signals that are coming from the market and from policy-makers are translated into reliable conditions that are open to different technologies – and that decarbonisation does not lose momentum due to geopolitical tensions or declining political commitment of individual players.”

For the fiscal year 2025, EnviTec projects consolidated total output (or revenues) in a range of between EUR 330 million and EUR 370 million. The EnviTec Executive Board expects earnings before taxes (EBT) to come in at between EUR 25 million and EUR 35 million. The decline compared to the fiscal year 2024 is mainly due to one-time effects in the Energy unit, which will not recur in this form in the current fiscal year, as well as lower earnings and consolidation effects in the Plant Construction segment. At the same time, the Group’s profitability in the fiscal year 2025 will again be clearly above the level of previous years.

The full Annual Report for 2024 is available at https://www.envitec-biogas.com/company/investor-relations/ir-reports.

About EnviTec Biogas AG

EnviTec Biogas AG covers the entire value chain for the production of biogas, including the planning and construction of biogas plants and biogas upgrading plants as well as their commissioning. The company takes charge of biological and technical services on demand and also offers operational management services. EnviTec operates 87 own plants, making it one of the largest biogas producers in Germany at present. EnviTec’s business activities also include the production and marketing of climate-neutral fuels (bio-LNG) for the transport sector as well as food-grade liquid carbon dioxide (LCO₂) and the planning and operation of wind and solar projects. With a presence in 18 countries worldwide, EnviTec Biogas AG is represented by its own companies, sales offices, strategic partners and joint ventures. In 2024, the EnviTec Group generated revenue of EUR 337.7 million and EBT of EUR 44.0 million. The Group currently employs some 690 people. EnviTec Biogas AG has been listed on the Frankfurt Stock Exchange since July 2007.

Contact EnviTec Biogas AG

EnviTec Biogas AG
Katrin Hackfort
Head of Corporate Communication
Phone: +49 25 74 88 88 - 810
E-mail: ir@envitec-biogas.de