Envipco Holding N.V.

Earnings Release • Aug 30, 2012

Envipco Holding N.V.
Innovative recycling systems For a cleaner environment
Envipco Reports 1st Half Year 2012 Results
Amsterdam, The Netherlands, 29 August 2012
All Figures in EURO thousands
		Unaudited	*Unaudited
Consolidated Income Statement		1HY to 30/06/12	1HY to 30/06/11
Operating revenues		27,765	27,105
Cost of revenue		(23,102)	(19,577)
Leasing depreciation		(597)	(522)
Gross profit		4,066	7,006
Operating expenses		(6,280)	(6,636)
Other income		14	(7)
Operating results		(2,200)	363
Net financial items		(405)	(157)
Profit / (loss) before tax		(2,605)	206
Taxes		851	35
Profit / (loss) after tax		(1,754)	241
Non-controlling interest		104	(16)
Net results		(1,650)	225
Net results attributable to : Owners of the parent		(1,650)	225
: Non-controlling interest		(104)	16
		(1,754)	241
EBITDA (earnings before interest, taxes, depreciation and amortisation)		(481)	2,263
Earnings/(loss) per share (EPS) after reverse stock split		(€ 0.667)	€ 0.091
Number of outstanding shares used in calculation of EPS in thousands
after reverse stock split (excluding treasury shares)		2,473	2,473
Consolidated Balance Sheet		Unaudited	Unaudited
ASSETS		30/06/12	30/06/11
Fixed assets and investments		23,825	20,103
Cash and cash equivalents		1,258	3,049
Other current assets		20,962	20,576
TOTAL ASSETS		46,045	43,728
LIABILITIES & EQUITY
Shareholders equity		14,344	16,369
Non-controlling interest		163	116
Long term liabilities		10,137	8,701
Current liabilities		21,401	18,542
TOTAL LIABILITIES & EQUITY		46,045	43,728

*Certain figures have been restated for comparative purposes.

First Half Year Results 2012

The following are the financial highlights: 6 months to

Financial Highlights 2012 2011 Revenues €27.8m €27.1m Gross Profit Margin 14.6% 25.8% Net profit (loss) after taxes €(1.7m) € 0.2m EBITDA €(0.5m) € 2.3m Shareholder's equity €14.3m €16.4m Earnings (loss) per share after reverse stock split €(0.667) €0.091

• RVM segment results encouraging with revenue increase of 27.1% to €13.0m and Net Profit increase of 157% to €1.1m.
• Plastics recycling segment results disappointing with revenue decrease of 12.4% to €14.8m and a Net Loss of €1.6m compared to a Net Profit of €0.7m the prior year.
• Overall, Group revenues for the first half of 2012 show a modest increase of 2.4%
• Group results after taxes reflect a Net Loss of €1.7m versus a Net Profit of €0.2m in the corresponding period last year. Results for the first half of 2012 include €0.5m of R&D expense and €0.6m of Holding Company expenses when compared to €0.3m of R&D expense and €0.6m of Holding Company expenses for the same period in 2011.
• The losses in the plastics recycling segment were financed by a capital increase of €3.0m.
• Plastics recycling plant upgrade successfully completed in July 2012, which will facilitate improved performance for the second half of 2012.
• RVM segment successfully launched new HDS product line.

The full report of the 2012 Half Year results is available on the company website.

For further information please contact Mr. Gool Santchurn, at +1 203 720 4059

Board of Directors Tel: +31 20 521 6344 Herengracht 458 Fax:+31 20 521 6349

ENVIPCO HOLDING N.V. Amsterdam, 29 August 2012 1017 CA Amsterdam Website: www.envipco.com The Netherlands E-mail: gools@envipco.com

About Envipco Holding N.V.

Envipco Holding N.V. (Envipco), www.envipco.com, is a Netherlands-based holding company listed on NYSE Euronext Brussels (new 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 prepare 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. It also owns and operates the largest independent bottle-to-bottle PET recycling plant in Europe.