Envipco Holding N.V. (ENVHF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Welcome to the Q2 2025 presentation by Invipco. I'm Simon Bolton, CEO of Invipco, and we'll run through this presentation with my colleague Michael Clement, Chief Strategy and IR Officer. Normal disclaimer. One of the financial highlights for Q2 2025 You know, as we talked about in the first quarter, this is a transitional year for us as we deliver on existing markets and then we look forward to new growth markets coming up. We've seen sequential growth, Q1 to Q2 this year, and group revenues of 23.1 million. That is 13% down year on year. But as mentioned, we expect that to continue to build as we go through the year. More on that later. In terms of gross margin, we continue to work hard, make investments on our production capability, our supply chain to drive down the cost of operations and cost of our products. So gross margin of 36.6 shows 1% up versus the year before, giving a gross profit of 8.4 million. EBITDA of 0.4 and cash, which Michael will talk about a little bit later in more detail, ended the quarter 18.9 million euros. In terms of operational highlights, as we've discussed previously and we'll show later in the presentation, there's a lot going on. Lots of markets are active. Some of those activities haven't gone through to final commercial. decisions and agreements and orders quite yet, but still we're continuing to prepare for the significant opportunity ahead of us. That's both on production and supply chain. Whilst not all those activities have gone through the final decision, some have and we're very excited to have announced the first two orders in those two new critical markets. So 250 RVMs were announced to a major retailer in Portugal. Portugal is an exciting market for us and we've had certainly a really great busines...