Envitec Biogas “significantly exceeds” targets in 2022 results

EnviTec Biogas achieved an excellent business performance in the fiscal year 2022. With total output at EUR 421.1 million (previous year: EUR 275.8 million) and earnings before taxes (EBT) at EUR 66.6 million (previous year: EUR 23.3 million), the company significantly exceeded the original targets set at the beginning of the reporting period.
Sales revenues in EnviTec’s largest segment, Own Plant Operation, increased by 78.4% to EUR 268.8 million. This dynamic growth was due, on the one hand, to the considerable quantities of biomethane produced by BioEnergie Park Güstrow, despite its conversion to a Bio-LNG production plant.
On the other hand, the company benefited from higher prices for biomethane (RED II certified) and a general increase in electricity and gas prices. Total output also picked up noticeably to EUR 270.7 million (previous year: EUR 153.5 million).
Sales revenues in the Service segment rose by 10.9% to EUR 46.1 million (previous year: EUR 41.6 million). Total output climbed to EUR 46.5 million (previous year: EUR 43.7 million). The Plant Construction segment (including holding company) also showed a dynamic performance in the past fiscal year. With revenues slightly down at EUR 67.9 million (previous year: EUR 70.1 million), total output increased by 32.2% to EUR 103.9 million.
The excellent segment performance sent consolidated revenues rising by 45.9% to EUR 382.8 million (previous year: EUR 262.4 million). The Group’s total output, which additionally includes the value of projects under construction, also picked up sharply and again reached a new record high of EUR 421.1 million.
At EUR 75.9 million, earnings before interest, taxes, depreciation and amortisation (EBITDA) also exceeded the prior-year record level (previous year: EUR 37.8 million).
Earnings before taxes (EBT) also improved noticeably from EUR 23.3 million to EUR 66.6 million in the reporting period. The EnviTec Group’s consolidated net income for the year amounted to EUR 48.3 million (previous year: EUR 16.9 million). Earnings per share for the year 2022 were thus EUR 3.25 (previous year: EUR 1.14).
In view of the good earnings performance, the Executive Board and the Supervisory Board of EnviTec Biogas AG propose to distribute a dividend of EUR 2.00 per share for the fiscal year 2022.
“Based on a fundamental need for a secure and independent energy supply, the fight against climate change is the main growth driver in the biogas market,” said Jörg Fischer, CFO of EnviTec Biogas AG. “In addition, the war against Ukraine has not only led to temporary distortions on the energy market but has also created a new geopolitical situation. A rapid and consistent transition towards renewable energies has therefore become essential. The European RepowerEU Plan alone aims to increase current production tenfold by 2030 and, despite prevailing risks, we are optimistic that we will be able to substantially participate in this growth.”