EQS-News

Dynamic business performance of EnviTec Biogas continues in H1 2023 - Seite 2

“The positive effect of the electricity trading agreements on income will probably not be repeated in this form in the coming years,” said Jörg Fischer, Chief Financial Officer of EnviTec Biogas AG. “Other aspects such as the high prices of commodities and building materials may also weigh on our profitability in the future. At the same time, the record results of the recent business periods have laid a strong foundation for the continued success of our company. There are many opportunities for us in Germany, but especially in the international biogas markets, driven by global efforts to combat climate change and secure sustainable energy supplies. We are currently seeing strong demand for our biogas plant and gas upgrading technology, particularly in the US.”

Own Plant Operation, the company’s most important segment, continued the excellent performance of the prior year period also in the first half of 2023. Segment revenues improved by 5.4% on the prior year period’s EUR 113.4 million. Total output in the Own Plant Operation segment rose by 6.0% to EUR 115.1 million. While sales revenues in the Plant Construction segment declined from EUR 17.4 million to EUR 8.3 million in the reporting period, this is due to the fact that the number of finally invoiced projects was lower than in the same period of the previous year. Total output rose by 14.1% to EUR 47.1 million, especially due to a noticeable increase in inventories. In this segment, several US projects are expected to be finally invoiced in the second half of the year. The Service segment also showed a very positive performance in the first six months of 2023. The segment’s revenues rose by 5.9% to EUR 20.3 million. Total output picked up by 24.5% to EUR 26.6 million, which is also mainly attributable to an increase in inventories resulting from new repowering and conversion projects.

The Plant Construction segment’s order backlog increased to EUR 307.5 million by the end of June 2023 (31 December 2022: EUR 217.7 million). At EUR 235.5 million, most of this amount is accounted for by the international biogas markets. The proportion of projects in Germany also increased significantly compared to previous periods, with a large proportion of this being attributable to the Own Plant Operation segment as part of our investment program.