Envipco Holding N.V. (ENVHF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and a very warm welcome to Q4 2025 results presentation from Evipco. My name is Simon Bolton, Group CEO, and I'm joined by two colleagues, Michael Clement, Chief Strategy and IR Officer, and also welcome back to our old friend, Bob Lincoln, President of the US and responsible for the very important UK and Irish markets. Maybe before we get into the presentation, just to say that you will have seen the announcement. This will be my last quarterly report. I'm stepping down at the end of April, personal decision. And whilst 2025 was a transitional year, you'll see the exciting future that this business has. It's been an honor and pleasure to lead the business. And also, thanks for your continued interest and engagement in the business. I know many of you have followed the business for many years and hope that support interest continues in the future. Okay, let's talk about Q4. Again, 2025 overall was a transitional year, as some of our existing markets were becoming delivered, and some of the new markets, while started, had just to really ramp up. So revenue, 23.8 million, so year on year, 27% lower. Gross margin that was impacted by continued investments and also some one-off items which Michael will take you through in a little bit more detail. Overall then for the quarter we had EBITDA of 0.7 which included 4.1 million in other income and we exited the quarter in the year with a healthy cash balance of 60 million euros. We continue to make targeted long-term investments in the business. And this results in delivery. So we continued operationally to build our share in Romania. We're now up to about 40%. Brownfield markets are also exciting, and we have a little bit more detail later, but we continue to build into Netherlands, working with Start...