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.