Press release
Publication 2020 annual report and subsequent events
Amersfoort, The Netherlands - May 5, 2021 - Envipco Holding N.V. has today published its annual report 2020 on the corporate website (www.envipco.com). There were some changes to the audited full year results as included in the annual report compared to the preliminary results as announced on 1 March 2021. These changes did not impact the operating result.
The changes to the audited results are as follows:
- Financial incomefor 2020 increased to €856k from €723k previously reported. This change resulted from revisions of foreign currency translation adjustments. This adjustment also increased EBITDAto € 3.55 million from €3.41 million previously reported.
- Income taxesfor 2020 increased to €849k from €297k previously reported. This change was a result of review of the Deferred tax assets which were reduced to €2.245k from €2.695k previously reported.
- Earnings/(loss) per shareincreased to a loss of €0.42 from a loss of €0.32 previously reported. This change is the net impact of the revisions of financial income and income taxes discussed above.
Subsequent to year end, the Company's US subsidiary has received forgiveness of the loan of €1.5m it received under the Coronavirus Aid, Relief, and Economic Security (CARES) Act's Paycheck Protection Program (PPP). The €1.5m forgiveness will be reflected in Q1 2021 results as other income. Also, in March 2021 the US subsidiary received another loan of €1.6m under the PPP second draw of the CARES Act. This second loan will also be eligible for forgiveness.
For further information please contact:
Derk Visser, Group CFO Envipco Holding N.V.
Telephone: +31 33 2851773
About Envipco Holding N.V.
Envipco Holding N.V. (Envipco), www.envipco.com, is a Netherlands-based holding company listed on Euronext Amsterdam and Euronext Oslo Growth (Symbol: ENVI). Envipco, with operations in several countries around the globe, is a recognized leader in the development and operation of reverse vending machines (RVMs), automated technological systems for the recovery of used beverage containers. Known for its innovative technology and market leadership, Envipco holds several intellectual property rights for RVM systems, including but not limited to beverage refund deposit markings, material type identification, compaction and accounting.
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Disclaimer
Envipco Holding NV published this content on 05 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 15:36:03 UTC.