Envipco Holding N.v. · EURONEXT:ENVI
Envipco — Q4 2024 Earnings Presentation
27 slides from Envipco's earnings presentation, Mar 20, 2025
Slide 1: Results Presentation Q4 24
Results Presentation Q4 24 20 March 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 Q4 24
Financial Highlights Q4 24 Revenue development EUR million, unaudited 35.5 36.4 27.4 26.6 27.4 ● Group revenues EUR 36.4m (+3% y/y) ○ 2024 revenues EUR 117.8m (+35% y/y) ● Gross margin 38.4% ○ Gross profit EUR 14.0m Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Gross profit development ● EBITDA EUR 5.4m, 14.9% marg
Slide 4: Operational highlights Q4 24
Operational highlights Q4 24 Continued growth in existing markets, solid operational execution, investing for the future ● Continue to execute on European strategy ○ Romania, Hungary, Greece and Ireland ● Developing brownfield growth strategy ○ Successful Quantum installations in the Netherlands ● I
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: Financial review
Financial review
Slide 7: Executing on growth in existing markets
Executing on growth in existing markets in EUR millions, unaudited Q4 24 Q4 23 2024 2023 Q4 24 Revenues 36.4 35.5 117.8 87.6 ● Group revenues EUR 36.4m (+3% y/y) - Europe 27.3 28.0 82.9 55.6 ● Gross margin 38.4%, up from 34.5% in Q4 23 - North America & RoW 9.0 7.4 35.0 32.1 ○ Gross earnings EUR 14.
Slide 8: Europe
Europe Quarterly revenues (EUR million, unaudited) Q4 24 Program services RVM sales ● Revenues EUR 27.3m, -2% y/y 28.0 27.3 19.9 17.3 18.3 ● RVM sales EUR 24.8m with Romania, 24.8 27.4 Hungary and Greece key sales drivers 19.2 16.4 16.9 0.6 0.7 0.9 1.4 2.5 ● Program services EUR 2.5m. Q4 23 Q1 24 Q2
Slide 9: North America
North America Quarterly revenues (EUR million, unaudited) Q4 24 Program services RVM sales ● Revenues of EUR 9.0m (+22% y/y) 9.3 9.1 9.0 7.4 7.6 1.5 0.9 1.2 0.4 0.5 ● Program services revenues up 12% y/y to EUR 7.9m 7.0 7.1 7.7 8.2 7.9 ● RVM sales of EUR 1.2m, +183% y/y Q4 23 Q1 24 Q2 24 Q3 24 Q4 24
Slide 10: Building a resilient organization for the next DRS wave
Building a resilient organization for the next DRS wave Operating expenses (EUR million, unaudited) 11.3 Q4 24 0.7 10.7 0.7 ● Operating costs up 26% y/y to EUR 11.3m 10.0 0.8 ○ New hires, Sensibin amortization 8.9 8.8 8.8 ○ Long-term incentive plan (LTIP) accruals 0.8 0.6 0.4 ● Non-recurring costs E
Slide 11: Operating costs
Operating costs Operating costs (EUR million, unaudited) ● Total opex EUR 11.3m in Q4 24 11.3 ○ EUR 10.7m adj for non-recurring items 0.5 10.0 0.6 0.7 1.1 ● Sequential increase in opex driven by: 0.6 ○ Increase in D&A on Sensibin intangible amortization ○ Long-term incentive program (LTIP) ○ New hir
Slide 12: Financial position
Financial position Balance sheet (EUR million, unaudited) Q4 24 129.4 129.4 ● Non-current assets EUR 39.9m (37.0) 125.3 125.3 ○ Primarily PPE EUR 20.2m and intangible assets EUR 30.7 28.7 14.9m from activated development expenses and EUR 45.4 44.1 6.1m identified intangibles from Sensibin acquisitio
Slide 13: Cash flow Q4 24
Cash flow Q4 24 Cash flow (EUR million, unaudited) Q4 24 -1.7 ● Cash from operating activities EUR +5.7m +5.7 -2.0 ○ EBITDA EUR 5.4m ○ Working capital release of EUR 2.1m on lower inventories offset by interest/tax payment of EUR 0.9m. ● Cash flow from investing activities EUR –1.7m 30.7 ○ Capital e
Slide 14: Cash flow 2024
Cash flow 2024 Cash flow (EUR million, unaudited) 2024 ● Cash from operating activities EUR +1.2m ○ Working capital build of EUR 4.2m on higher receivables and lower payables offset by lower inventory ○ Interest/tax payment of EUR 2.5m ● Cash flow from investing activities EUR –8.0m 25.0 30.7 ○ Capi
Slide 15: Outlook
Outlook STATIEGELD TERUG 1, OF DOVER AN EN GOEDEL
Slide 16: 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 38.4 18.1 35.4 36.3 30.8 7.2 3.1 3.6 4.1 38.2 35.0 32.3 32.7 31.2 32.1 26.7 2018 2019 2020 2021 2022 2023 2024 Increased awareness and legislative initiatives largely
Slide 17: Regulatory progress driving DRS across Europe
Regulatory progress driving DRS across Europe Interoperable national EU Packaging and Packaging UK DRS Waste Regulation (PPWR) Deposit Management Organization 1 (DMO) appointed 90% By Spring 2025 Collection rate for plastic bottles and cans using DRS by 1 January 2029* DMOs set up and employed with
Slide 18: 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 19: Markets prioritized from DRS second wave
Markets prioritized from DRS second wave Anticipated next wave of DRS legislation in European markets Legislative considerations and plannin g Preparations Implementation and execution Publicly anno unced launch Expected launch Note: 1. Key milestones taken from the Regulation (EU) 2025/40 of the Eu
Slide 20: Brownfield market strategy
Brownfield market strategy Penetrating selected new markets with Quantum bulk feed Netherlands ● First Quantum installed in the Netherlands in March 2024 ○ Strong reception and high collection volumes ● Several Quantums installed in the Netherlands in 2024 and installed base continues to grow in 202
Slide 21: 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 22: Next event: 14 May 2025 – Q1 25 results
Next event: 14 May 2025 – Q1 25 results
Slide 23: Q&A Contact: investors@envipco.com
Q&A Contact: investors@envipco.com For further information: www.envipco.com/investors
Slide 24: Making recycling easier.
© envipco Making recycling easier.
Slide 25: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income in EU R thousands Q4 24 Q4 23 FY 24 FY 23 Rev enues 36,396 35,451 117,847 87,610 Cost of sa les (22,410) (23,220) (74,749) (57,342) Gross Profit 13,986 12,231 43,098 30,268 Sell ing a nd d istri bution expenses (1,237) (973) (4,443) (2,763) Genera l a n
Slide 26: Consolidated Balance Sheet
Consolidated Balance Sheet in EU R thousands FY 24 9M 24 FY 23 in EU R thousands FY 24 9M 24 FY 23 Assets Non-current assets Equity Development costs Etc 13,203 13,831 7,725 Sha re cap ital 2,885 2,885 2,585 Intangibl e assets 14,925 15,102 9,170 Share premium 96,131 89,371 71,021 Property, plant an
Slide 27: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement in EUR thousands FY 24 9M 24 FY 23 Cashflow from operating activities Operating results 4,550 1,785 2,285 Adjustment for: Depreciation & Amortizatio n 8,219 5,548 6,036 PPP loan forgiveness - - - Deferred revenue (4,546) (3,669) 4,160 Changes in: Changes in trade and