Envipco Holding N.V.
Innovative Recycling Systems for a cleaner environment
Interim Management Statement
Envipco Holding N.V., a public listed company on the NYSE Euronext Brussels "ENVI" and a leading provider of recycling systems and solutions to the beverage and retail industries, announces its interim management statement for the period from 1 January 2015 through 15 May 2015.
The following are the main events/activities which occurred during the interim period:
- The Management Board issued a press release on 30 April 2015 announcing the Group's 2014 annual audited results. This release along with the 2014 Annual Report are available at: www.envipco.com
- The Company's annual shareholders' meeting is scheduled for 23 June 2015. The meeting notice, agenda and other documents are available at www.envipco.com
- The Plastics recycling segment previously being reported as "Discontinued Operations" was sold at the end of 2014. The Group reporting will now only reflect the results of our core RVM operations.
- The Group RVM revenues in the first quarter of 2015, increased by 20.5% to €5.4 million when compared to €4.5 million in the first quarter of 2014. The majority of this increase (18.5%), was due to the strengthning of USD against Euro. Our US RVM operations showed a slight decline in thru-put volumes and essentially a flat result in machine sales. An increase in our German compactor sales accounted for the remaining 2.0% increase. RVM thru-put volumes are expected to increase over the remainder of 2015 when compared to 2014 as a result of a new RVM supply agreement. Additionally, RVM machine sales orders for the remainder of 2015 will exceed 2014 levels. The net loss for the first quarter of 2015 increased to €1.0 million from €0.9 million in 2014; mainly tied to costs associated with preparations for the new RVM supply agreement.
- The Company announced in March 2015, an award of a major RVM supply and service contract to our US subsidiary. The five-year lease contract with a leading Northeast grocery retail chain is for over 600 RVMs. Machine placements are expected to begin in May 2015 and be completed over a 10 month period. The contract will result in meaningful increased RVM thru-put revenues over the term.
- In March 2015, the Company announced the launch of 'Quantum', its revolutionary RVM bulk feed technology solution for the deposit markets. Quantum transforms RVM technology from single feed to a completely automated fast and convenient bulk feed solution.
- Envipco followed this announcement in April 2015 with its plans to enter the Swedish market. Quantum's development has been initially targeted to Sweden in conjunction with a Returpack Svenska A.B. contract to premiere the breakthrough technology. Initial feedback from the Swedish retailer community has been very positive. Successful launch of the Quantum technology in Sweden will support expansion of activities in the Nordic markets along with other European deposit markets.
There are no other significant events which may have a material impact on the financial position of the group.
The Board of Directors of Envipco Holding N.V. 15 May 2015
For further information, please contact Gool Santchurn: By phone: +1 203 720 4059 By e-mail: [email protected] Website: www.envipco.com
About Envipco: Envipco Holding N.V. (Envipco), www.envipco.com, is a Netherlands-based holding company listed on NYSE Euronext Brussels (Symbol ENVI). Envipco, with operations in several countries around the globe, is a recognised leader in the development and operation of reverse vending machines (RVMs), automated technological systems for the recovery of used beverage containers. Envipco's turnkey solutions cover all aspects of beverage container recycling - from recovery, validation, compaction, sorting, transportation and logistics, to accounting for every container, to recycling and processing used beverage containers to ready for conversion into new containers and consumer products. 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.