EnviTec Biogas: Total output, revenues and earnings reach new record levels in FY 2021
- Total output up 21.5% to EUR 275.8 million
- Sales revenues grow 36.5% to EUR 262.4 million
- EBITDA continues to rise to EUR 37.8 million (2020: EUR 32.1 million); EBT of EUR 23.3 million (2020: EUR 17.2 million)
- Dividend of EUR 1.00 per share proposed for FY 2021
- Continued earnings growth projected in spite of prevailing uncertainty
Lohne, 17 May 2022 – EnviTec Biogas AG (ISIN: DE000A0MVLS8) clearly exceeded its original expectations in the past fiscal year 2021, generating the best result in the company’s history. At EUR 23.3 million, the Group’s earnings before taxes exceeded the previous year’s EUR 17.2 million by 35.8%. This was mainly driven by the better-than-expected performance of the Plant Construction and Own Plant Operation segments, which had a clearly positive influence on the result.
Sales revenues in the Own Plant Operation segment, which accounted for 57.4% of total revenues and is thus the largest segment, increased by 36.7% to EUR 150.7 million. Total output also picked up noticeably to EUR 153.5 million (previous year: EUR 116.0 million). Sales revenues in the Service segment rose by 4.1% to EUR 41.6 million (previous year: EUR 40.0 million). Total output improved by EUR 2.0 million to EUR 43.7 million (previous year: EUR 41.7 million). The Plant Construction segment (incl. holding company) showed a particularly good performance, with revenues growing by 66.5% to EUR 70.1 million. Total output stood at EUR 78.6 million, compared to EUR 69.2 million in the previous year. The excellent segment performance sent consolidated revenues rising by 36.5% to EUR 262.4 million (previous year: EUR 192.3 million). The Group’s total output, which additionally includes the value of projects under construction, also picked up sharply and – just like revenues and earnings – reached a new record level of EUR 275.8 million.
At EUR 37.8 million, earnings before interest, taxes, depreciation and amortisation (EBITDA) again exceeded the high level of the previous year (2020: EUR 32.1 million). Earnings before interest and taxes (EBIT) also improved noticeably from EUR 16.7 million to EUR 23.0 million in the reporting period. The EBIT margin stood at 8.8 % (previous year: 8.7%). The EnviTec Group’s consolidated net income for the year amounted to EUR 16.9 million (previous year: EUR 12.3 million). Earnings per share for the year 2021 reached EUR 1.14 (previous year: EUR 0.83).
In view of the good earnings performance, the Executive Board and the Supervisory Board of EnviTec Biogas AG propose to again distribute a dividend of EUR 1.00 per share for the fiscal year 2021.
As of 31 December 2021, the EnviTec Group’s total assets amounted to EUR 252.8 million, up EUR 14.2 million on the prior year reporting date. In spite of increased total assets, EnviTec still had a comfortable equity ratio of 53.0% as of the reporting date (31 December 2020: 55.8%), which represents a strong foundation for the continued successful expansion in the international biogas markets.
Compared to the end of 2020, the order backlog increased by 19.4% to EUR 169.6 million (31 December 2020: EUR 142.1 million). Of this amount, EUR 112.2 million is already under construction and partially included in changes in inventories.
“Following our record year 2021, we also had a successful start to the new fiscal year,” said Jörg Fischer, Chief Financial Officer of EnviTec Biogas AG. “Capacity utilisation is very high, especially in Plant Construction. And the Service and Own Plant Operation segments have also shown a very satisfying performance to date. On the other hand, the supply chain problems and the strong increase in the prices of raw materials and capital goods are quite challenging, which is why our generally very positive business outlook is subject to some uncertainty.”
Besides our current operations, the focus in the current year will be placed primarily on developing the new business segment for the production of climate-neutral, advanced biofuels. Starting in the first quarter of 2023, BioEnergie Park Güstrow, which is Germany’s largest biogas plant and has been acquired by EnviTec, is to gradually produce up to 9,600 tons of upgraded green liquefied natural gas (LNG) for a sustainable heavy goods transport.
“Biofuels have the potential to make a substantial contribution to the decarbonisation of heavy goods transport in Germany,” said Olaf von Lehmden, CEO of EnviTec Biogas AG. “Being one of Germany’s largest biogas plant operators, we will play a pioneering role here and generate additional revenue potential in the double-digit million range as of 2023 with our first plant in Güstrow alone.”
For the current year, the EnviTec management expects the company’s earnings before taxes (EBT) to reach a further improved range of EUR 27 million to EUR 30 million. The achievement of the company’s economic targets will hinge on the further course of the Covid-19 pandemic, the effects of the war against Ukraine and the business trend in the most important international markets of the Plant Construction segment.
The full Annual Report 2021 is available at https://www.envitec-biogas.com/company/investor-relations/ir-reports.
About EnviTec Biogas AG
EnviTec Biogas AG covers the entire value chain for the production of biogas, including the planning and turnkey construction of biogas plants and biogas upgrading plants as well as their commissioning. The company takes charge of biological and technical services on demand and also offers operational management. EnviTec operates 89 own plants, making it one of the largest biogas producers in Germany. EnviTec’s business activities also include the direct marketing of processed biomethane as well as the marketing of electricity and balancing energy. With a presence in 16 countries worldwide, EnviTec Biogas AG is represented by its own companies, sales offices, strategic partners and joint ventures. In 2021, the EnviTec Group generated revenue of EUR 262.4 million and EBT of EUR 23.3 million. The Group currently employs 518 people. EnviTec Biogas AG has been listed on the Frankfurt Stock Exchange since July 2007.
EnviTec Biogas AG
Phone: +49 25 74 88 88 - 810