THE BOARD OF ECOMEMBRANE S.P.A. APPROVES THE CONSOLIDATED HALF-YEARLY REPORT AS OF 30 JUNE 2025
of which 69% was organic growth and 31% was due to the contribution of SBS Solar, acquired on March 2024
Main results as of 30 June 2025:Gadesco Pieve Delmona (CR), 26 September 2025
Lorenzo Spedini, CEO of Ecomembrane, stated
CONSOLIDATED FINANCIAL DATA AS OF JUNE 30th, 2025 AND OPERATING PERFORMANCE
Revenues from ordinary operations amounted to
half of 2024 were marginal. Ecomembrane LLC's turnover was penalized by market uncertainty linked to the issue of tariffs and by the fact that major EPC customers waited to place orders pending
greater clarity on the incentive plan due to them, following the new presidential mandate in the US.
With regard to the Parent Company's data, there is a marked seasonal effect, with a significant concentration of revenue generation in the second half of the year and, in particular, in the last quarter of each financial year. This seasonal effect is recurring and is mainly linked to the sale of gasholders and domes for the biogas and biomethane sector.
The incidence of the cost of raw and ancillary materials (gross of changes in inventories) is approximately 2% higher than in the previous period. This trend is influenced by the greater weight of the photovoltaic component, which has lower margins than those typical of the Parent Company. Compared to the same period last year, the Parent Company reported improvements in both production costs and service costs.Personnel costs amounted to approximately
thousand (+25.1%) compared to the previous period due to: higher volumes, the greater weight of SBS personnel costs, and the costs of employees hired in the previous period, which therefore had a full impact in the first half of 2025. However, it should be noted that the impact of personnel costs on core revenues decreased by approximately 4% compared to the previous period.
EBITDA amounted to
-630 thousand was attributable to the solar business, where several significant projects are currently underway that are expected to be completed during the 2025 financial year. Of particular note is the Romea contract, which only began in the second half of the year.
Shareholders' equity, including result of the year, amounted to
million were tangible assets
R&D costs at the Parent Company, while there were no significant tangible investments during the period.
2024, mainly due to the increase in inventory, also to meet the Romea order, partially offset by a reduction in trade receivables. Net working capital decreased by
2 million for the Romea contract with SBS.
Net financial debt shows a
Liquid Assets, amounting to MAIN SIGNIFICANT EVENTS DURING THE FIRST SEMESTER OF 2025
On April 15, 2025, Ecomembrane's Ordinary Shareholders' meeting approved the financial statements for the year ended December 31, 2024, as proposed by the Board of Directors and already made public on March 14, 2025.
The Shareholders' meeting also acknowledged Ecomembrane's consolidated financial statements
Having taken note of the financial statements, the Shareholders' Meeting resolved to cover the loss
Finally, noting that with the approval of the financial statements as of December 31, 2024, the statutory audit mandate conferred to the auditing firm BDO Italia S.p.A. had expired, the Shareholders' Meeting resolved, on the basis of the reasoned proposal of the Board of Statutory Auditors in accordance with current legislation, to appoint the same auditing firm, BDO Italia S.p.A., to perform the statutory audit for the financial years 2025, 2026, and 2027.
On May 9, 2025, Ecomembrane announced that it had signed a partnership agreement with Energy
Ecomembrane will be responsible, in particular, for the management and coordination of production activities, which will be carried out by its direct and indirect personnel, as well as for the engineering and design of the membranes. Energy Dome will be responsible, in particular, for providing the site on which the double-membrane gasholders will be manufactured and for purchasing, at its own expense, all the materials and components necessary for their manufacture. The agreement will have a duration of 6 years and provides, in favor of Ecomembrane, in addition to an initial set-up fee, fixed fees for the management, coordination, and optimization of production and variable fees for engineering activities based on the number of gasholders manufactured, as well as a payment for the production activity.
On May 15, 2025, SBS signed a contract with Romea S.r.l., a company belonging to the Bluenergy-Gas Sales Group, a leading operator in the supply of electricity and natural gas, for the engineering, design, supply, and construction of a photovoltaic plant with a capacity of approximately 10 MWp
million plus VAT.
During the period, other significant contracts were signed by Ecomembrane for the construction of gas storage systems, commissioned by entities awarded incentives under the biomethane tender (Ministerial Decree of September 15, 2022), and by SBS for the supply of single-axis trackers.
MAIN SIGNIFICANT EVENTS AFTER THE END OF THE FIRST SEMESTERNo significant events occurred after the end of the half-year.
OUTLOOK FOR OPERATIONSConsidering the significant pipeline in place, over the coming months the Company will be engaged in the design, supply, and installation of domes and gasholders on the Italian market for the
related to the application of customs duties and greater clarity regarding the incentives granted.
The Parent Company will also continue its partnership with Energy Dome for the engineering, design, and construction of double-membrane gasholders and their commissioning at Energy
in pursuing various photovoltaic development initiatives and the supply of single-axis trackers for current projects in its portfolio and for future projects for which negotiations are already at an advanced stage.
**** FILING OF DOCUMENTATIONThe documentation relating to the Financial Statements as of June 30, 2025, as required by current legislation, will be available to the public by publication on the Company's website https://www.ecomembrane.com in the Investor Relations section in accordance with the law, as well as on the website https://www.borsaitaliana.it, in the Corporate Documents section.
****Information about Ecomembrane
Ecomembrane S.p.A., with registered office in Gadesco Pieve Delmona (Cremona) and North Little Rock (Arkansas, USA), has been operating in the renewable energies and biogas sector since 2000 and is managed by its Founder and CEO, Lorenzo Spedini. Ecomembrane considers itself one of the founding fathers of the modern era membrane gasholders and is specialised in producing gasholders, heat shields for anaerobic digesters, odour control-covers made in PVC-coated fabric membrane and all parts of products needed for the combustion of biogas and the production of electricity. The Company designs, produces, markets and installs components for biogas and biomethane production plants and gas storage systems such as biogas, methane, CO2, hydrogen. It is also involved in the photovoltaic industry with its subsidiary SBS Solar, focusing on the sale of single-axis trackers and the development and construction of turnkey systems. The Company currently has more than 70 employees and is present commercially on all continents and in 40 countries, with offices and production units in Italy and the USA.Contact details:
Ecomembrane S.p.A. Operating office
Via Pari Opportunità, 9
Gadesco Pieve Delmona
info@ecomembrane.com
Euronext Growth Advisor Equita SIM S.p.A. Marcello Daverio
Tel: +39 02 62041
m.daverio@equita.eu
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