Envipco Holding N.V. (ENVHF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay, good morning, everyone. It gives me great pleasure to welcome you to the Q1 2025 results presentation of Invipco. My name is Simon Bolton, CEO of Invipco, and I'm joined by my colleague, Michael Clement, Chief Strategy and IR Officer, to run you through the highlights of the quarter this morning, followed by a Q&A. Highlights for Q1. Following a record end to 2024, and as anticipated, as mentioned last quarter, somewhat slower start to 2025. Group revenues, 21 million, 23% down year on year. Gross margins continue to develop well. We've had, obviously, a target of 40%, getting to 40% gross margins, and we continue on that journey with really good productivity and also cost efficiency in addition to good work on the commercial side. Overall EBITDA with costs under control this quarter at half a million. And then the cash balance, which Michael will go through in a little bit more detail later, ending the quarter at just over 20 million. We continue to strengthen our business. I think for those who follow the business for some time, you know that we're positioned in this space, really unprecedented market opportunity ahead of us, driven by EU regulation. which mandates introduction of a deposit return scheme, so a small fee on bottles or cans to return them to recycling point, which needs our technology, our services and our skills to make the whole system work. So we continue to develop our organisation, our technology and our capabilities so that we can be ready to deliver all those opportunities when they come. We have announced continued excellent wins and progress in Romania. So two specific wins were announced this quarter. And in addition, in Romania, we had the pleasure of opening up our Engineering Centre of Excellence Inclusion Epoca last month. And I w...