EnviTec Biogas (ETG) H1 2025 earnings summary

Executive summary

• Achieved solid business development in H1 2025, with structurally higher earnings than pre-2022 despite a challenging market environment.

• International activities showed mixed results: growth in several European markets, but investment restraint in the US due to regulatory uncertainty.

• Completed the largest investment program in company history, expanding production capacity for advanced biofuels.

• Acquired LIQVIS GmbH, integrating 18 LNG stations in Germany and France, extending the value chain in the transport sector.

Financial highlights

• Revenue for H1 2025 was €148.4m, down from €179.4m in H1 2024.

• EBITDA decreased to €26.3m (H1 2024: €39.6m); EBT fell to €10.2m (H1 2024: €28.6m); net income was €8.1m (H1 2024: €23.3m).

• Gross margin declined to €66.9m from €77.3m year-over-year.

• Order backlog at period end was €129.9m, with international orders rising to €94.3m.

• Number of employees increased to 691 (H1 2024: 685).

Outlook and guidance

• For FY 2025, expects to reach the lower end of guidance: revenue or total output of €330–370m and EBT of €25–35m.

• Anticipates improved performance in plant construction in H2 2025 and continued strong earnings in own operations.

• Market outlook remains positive in Europe, especially in Spain, Sweden, the Baltics, and France.