Q1 24
Results presentation | 21 May 2024
Disclaimer
THIS PRESENTATION may contain forward looking statements. These statements are based on current expectations, estimates and projections of Envipco's management and information currently available to the company. Envipco cautions that such statements contain elements of risk and uncertainties that are difficult to predict and that could cause actual performance and position to differ materially from these statements. Envipco disclaims any obligation to update or revise any statements made in this presentation to reflect subsequent events or circumstances, except as required by law. Certain figures in this presentation, including financial data, have been rounded. Accordingly, figures shown for the same category presented in different tables may vary slightly and figures shown as totals in certain tables may not be an exact arithmetic aggregation of the figures which precede them.
Highlights Q1 2024
- Group revenues EUR 27.4m (+164%)
- LTM revenues EUR 104.6m (+85%)
- Gross margin 35.0% with gross profit EUR 9.6m
- EBITDA EUR 2.7m, y/y improvement
from EUR -0.9m
- Successful private placement with gross proceeds of EUR 26m
Revenue development
EUR million, Unaudited
Gross profit development
EUR million, Unaudited
A global recycling technology company set for growth
- Engaging a vast global market opportunity, mainly driven by deposit legislation rolled out across all EU countries
- Captured leading position in European growth markets, building on ~40% market share in North America and global Tier 1 customers
-
Ready to capture new markets as legislation matures, with
ample production capacity in the U.S, Germany, and Romania, and right- sized organization across European growth markets - Approaching inflection point for sustained profitability with revenue doubled since 2021, economies of scale and gross margin expansion
- Executed by seasoned team with extensive cross-functional experience
Building from…
EUR 104.6 million
LTM Q1 24 revenues
2.7x
revenue multiple 2021 - LTM Q1 24
35.0%
Q1 24 gross margin
…with 2025 ambition
4 - 6x
revenue growth from 2021
+30%
market share in new markets
40%
gross margin
Delivering on European growth strategy
Revenue development
EUR million, unaudited
Increased awareness and legislative initiatives largely driven | DRS second wave (EU) |
by maturing North American Market | |
1) Gross sales. |
Operational review
Why we continue to win with our customers
Broad and proven | Proven track record with | Ample production | Consultative approach |
product portfolio | world leading retailers | capacity | addressing customers' |
addressing all customer | showing our quality and | in USA, Germany and | unique needs first and |
segments | commitment | Romania with the capacity | then designing a solution |
to serve large Tier 1 | |||
retailers |
Differentiating Envipco from our competitors
Quantum
The bulk feed champion
Modula
Adaptable high-speed backroom solution
Operational update
Quarterly development
(EUR million, unaudited)
North America
- CT doubling of deposit to USD 0.10 in effect from January 2024
- MA and NY legislative activity building to modernize their deposit schemes
- Continued focus on CA with proof-of-concept pilot installed
Europe
- Ireland off to a solid start with strong execution
- Hungary continues to deliver strong revenue growth
- Romanian business continues its steady build
- Quantum successes in new and existing markets
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Envipco Holding NV published this content on 21 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 May 2024 05:12:08 UTC.