Envipco Holding N.v. · EURONEXT:ENVI
Envipco — Q1 2025 Earnings Presentation
25 slides from Envipco's earnings presentation, May 14, 2025
Slide 1: Results Presentation Q1 25
Results Presentation Q1 25 14 May 2025
Slide 2: Disclaimer
Disclaimer THIS PRESENTATION may contain forward looking statements. These statements are based on current expectations, estimates and projections of Envipco’s management and information currently available to the company. Envipco cautions that such statements contain elements of risk and uncertaint
Slide 3: Financial Highlights Q1 25
Financial Highlights Q1 25 Revenue development EUR million, unaudited 36.4 ● A soft start to 2025 following a record Q4 24 27.4 27.4 26.6 ● Group revenues EUR 21.0m (-23% y/y) 21.0 ● Gross margin 37.3% ○ Gross profit EUR 7.8m Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 ● EBITDA EUR 0.5m Gross profit development E
Slide 4: Operational Highlights Q1 25
Operational Highlights Q1 25 Strengthening position in existing markets, operational improvements, investing for the future ● Continue to harvest efficiency gains in production from operational improvements ● Major wins in Romania ○ Two significant contract wins announced in February and April ● Clu
Slide 5: A global recycling technology company set for further growth
Unprecedented global market A global recycling opportunity Captured leading position in technology European markets company set for Investing in highly competitive delivery platform, products and services further growth Executed by a seasoned team Driving revenue growth and profitability
Slide 6: Delivering on our European growth strategy
Delivering on our European growth strategy Revenue development EUR million, unaudited 117.8 North America Europe 87.6 82.8 56.4 55.5 18.1 35.4 36.3 38.4 3.1 3.6 30.8 7.2 4.1 38.2 35.0 32.3 32.7 31.2 32.1 26.7 2018 2019 2020 2021 2022 2023 2024 2025 Increased awareness and legislative initiatives lar
Slide 7: Ample and distributed production capacity
Ample and distributed production capacity European growth markets mainly served from European facilities >50% of production capacity in Europe 3,000 Quantum/ Modula Osnabruck, Germany Naugatuck (CT), USA Sebes, Romania Athens, Greece 30,000 Standalone RVMs Units sold 2023 Units sold 2024 Production
Slide 8: Built leading position in Romania
Built leading position in Romania A pillar in Envipco’s European growth strategy ● Greenfield market, DRS launched in 2023 ● Built strong commercial position, installed RVM base, production capacity and Engineering Center of Excellence Engineering Center ● As of 2024 on clear path to achieve target
Slide 9: Financial review
Financial review
Slide 10: Profit & Loss
Profit & Loss in EUR millions, unaudited Q1 25 Q1 24 YTD 25 YTD 24 Q1 25 Revenues 21.0 27.4 21.0 27.4 ● Group revenues EUR 21.0m (-23% y/y) - Europe 12.3 19.9 12.3 19.9 ● Gross margin 37.3%, up from 35.1% in Q1 24 - North America & RoW 8.7 7.6 8.7 7.6 ○ Gross earnings EUR 7.8m, -19% y/y ● Operating
Slide 11: Europe
Europe Quarterly revenues (EUR million, unaudited) Q1 25 Program services RVM sales 27.3 ● Revenues EUR 12.3m, -38% y/y 19.9 17.3 18.3 ○ Timing of markets cause quarterly variations 24.8 12.3 19.2 16.4 16.9 11.0 ● RVM sales EUR 11.0m (19.2m) with Romania 2.5 0.7 0.9 1.4 1.3 and Hungary key sales dri
Slide 12: North America
North America Quarterly revenues (EUR million, unaudited) Q1 25 Program services RVM sales 9.3 9.1 9.0 8.7 7.6 1.5 0.9 1.2 ● Revenues of EUR 8.7m, +16% y/y 0.5 1.3 ● Program services revenues up 4% y/y to 7.1 7.7 8.2 7.9 7.4 EUR 7.4m Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 ● RVM sales of EUR 1.3m, +176% y/y L
Slide 13: Operating costs
Operating costs Operating costs (EUR million, unaudited) ● Total opex EUR 9.8m in Q1 25, up 12% y/y 11.3 0.5 ○ Number of employees 483 10.0 1.1 ● Continue to invest in our business to meet anticipated market growth: ○ Market and business development ○ Technology and delivery platform ○ Administrativ
Slide 14: Financial position
Financial position Balance sheet (EUR million, unaudited) Q1 25 129.4 129.4 ● Non-current assets EUR 38.7m (39.9) 119.9 119.9 ○ PPE EUR 19.0m and intangible assets EUR 14.6m 30.7 20.7 45.4 ● Current assets EUR 81.2m (89.5) 39.9 ○ Inventories EUR 31.3m (28.6), AR EUR 29.3m (30.1) Cash balance EUR 20.
Slide 15: Cash flow Q1 25
Cash flow Q1 25 Cash flow (EUR million, unaudited) Q1 25 ● Cash from operating activities EUR -4.0m -4.0 -1.1 ○ EBITDA EUR 0.5m -4.8 ○ Working capital build of EUR 2.5m on higher inventories ○ Interest/tax paid of EUR 1.2m. ● Cash flow from investing activities EUR –1.1m 30.7 ○ Capital expenditures
Slide 16: Outlook
Outlook
Slide 17: Well positioned for DRS second wave
Well positioned for DRS second wave Revenue development Population in new DRS markets EUR million, unaudited Million 148 278 278 42 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Last 3 years Next 3 years Next 5 years European Mature North growth DRS second wave America business st
Slide 18: Markets prioritized from DRS second wave
Markets prioritized from DRS second wave Anticipated next wave of DRS legislation in European markets Note: 1. Key milestones taken from the Regulation (EU) 2025/40 of the European Parliament and the Council on packaging and packaging w aste, amending Regulation (EU) 2019/1020 and Directive (EU) 201
Slide 19: Capitalizing on an unprecedented market opportunity
Capitalizing on an unprecedented market opportunity Delivered significant growth at improving margins Proven ability to capitalize on rapidly growing market Revenue (EURm) 117.8 +200,000 Gross margin New RVM unit market opportunity Demonstrated ability to 37% capture above targeted 30% 35% 87.6 mark
Slide 20: Next event: 13 August 2025 – Q2 25 results
Next event: 13 August 2025 – Q2 25 results
Slide 21: Q&A Contact: investors@envipco.com
Q&A Contact: investors@envipco.com For further information: www.envipco.com/investors
Slide 22: Making recycling easier.
© envipco Making recycling easier.
Slide 23: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income in EU R thousands Q1 25 Q1 24 YTD 25 YTD 24 Rev enues 20,999 27,436 20,999 27,436 Cost of sa les (13,169) (17,814) (13,169) (17,814) Gross Profit 7,830 9,623 7,830 9,623 Sell ing a nd d istri bution expenses (1,306) (1,133) (1,306) (1,133) Genera l a nd
Slide 24: Consolidated Balance Sheet
Consolidated Balance Sheet in EU R thousands Q1 25 Q4 24 Q1 24 in EU R thousands Q1 25 Q4 24 Q1 24 Assets Non-current assets Equity Inta ngibl e assets 14,616 14,925 9,222 Share capital 2,885 2,885 2,885 Property, plant and equi pment 19,043 20,172 20,772 Share premium 96,038 96,131 95,504 Financial
Slide 25: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement in EUR thousands Q1 25 Q1 24 2024 Cashflow from operating activities Operating results (2,016) 1,082 4,550 Adjustment for: Depreciation & Amortizatio n 2,507 1,945 8,219 PPP loan forgiveness - - - Deferred revenue (988) (2,591) (4,546) Changes in: Changes in trade an