Green Earth Group (GREEN) H2 2024 earnings summary

Executive summary

• DGB Group transitioned from a development-stage venture to a revenue-generating company in 2024, issuing its first verified carbon credits and expanding into plastic and biodiversity credits.

• The company completed its first external audit since 2018, adopted cost-based accounting for project valuation, and implemented significant governance and board structure changes.

• DGB sold a 40% stake in Corekees, completed a major share buyback, and secured continued listing on Euronext Amsterdam.

• The company is rebranding to Green Earth Group in 2025, reflecting a broader environmental focus.

Financial highlights

• Revenue for 2024 was €88,000, up from €43,000 in 2023, driven by the first carbon credit issuances.

• Net loss increased to €4.266 million in 2024 from €3.064 million in 2023, mainly due to investments in project scaling and infrastructure.

• Equity turned negative at €-6.455 million (2023: €2.649 million), while total assets decreased to €7.924 million (2023: €10.599 million).

• Cash and cash equivalents rose to €460,000 (2023: €94,000), and borrowings increased to €10.74 million.

• Earnings per share were €-0.38 (2023: €-0.28).

Outlook and guidance

• DGB targets generating 500 million carbon units by 2030 and expects to achieve sustained profitability by 2027.

• Plans for 2025 include scaling the project pipeline, expanding into Latin America and Central Asia, and securing €5 million in carbon offtake agreements.

• The company anticipates initiating dividend payments as early as 2025, subject to financial results.

• Rebranding to Green Earth Group and full Euronext listing are set for 2025.