EnviTec’s H1 financial performance normalises “as expected”

In the first half of 2024, EnviTec Biogas recorded a strong performance across all business segments.
After its highly successful 2022 and 2023, business normalised as expected by the company, especially in the Own Plant Operation segment.
In a multi-year comparison, however, the trend remains dynamic in all of the Group’s segments, said EnviTec.
Total output for the first six months amounted to €181.6 million (H1 2023: €188.7 million).
At €179.4 million, sales revenues of the EnviTec Biogas Group in the first half of 2024 exceeded the level of the prior year period (H1 2023: €142.0 million) due to a large number of finally invoiced projects in the Plant Construction segment.
This contrasted with a decline in work in progress, mostly plants under construction, in the amount of €12.3 million.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) in the period from January to June 2024 stood at €39.6 million (H1 2023: €47.8 million).
This amount includes the result from at-Equity investments of €1.7 million (H1 2023: €6.6 million).
Earnings before taxes (EBT) stood at €28.6 million in the first half of 2024 (H1 2023: €39.2 million), while consolidated net profit for the period amounted to €23.2 million (H1 2023: €33.3 million).
Earnings per share amounted to €1.57 (H1 2023: €2.24).
The decline in profitability compared to the prior year period is essentially attributable to one-time effects in electricity trading, which, as had been expected, did not recur on a similar scale in the current financial year.
Jörg Fischer, chief financial officer of EnviTec Biogas, said: “The current business trend is not only in line with our plans but above all reflects the successful operational and strategic development of our Group over the past years. Our business volume and profitability are clearly above the level of earlier years. We want to continue on this growth track, both internationally and in Germany. In our home market, we therefore invest a total of around €150 million in new plants and jobs.”