Earnings Release • Jun 20, 2025
Earnings Release
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Envipco Final 2024 annual results
Amersfoort, The Netherlands -- 20 June 2025 -- Envipco Holding N.V. ("Envipco"
or "the Company"), a global provider of recycling systems and reverse vending
machine (RVM) technology, today reports the final 2024 annual results.
The table below summarizes the Company's final 2024 annual results compared to
the preliminary full year results published 20 March 2025.
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| | Final | | | 1) | 2) | 3) | 4) | 5) |
| | | Preliminary | Variance | | | | | |
| EURm | results | results | | | | | | |
| | 2024 | 2024 | | | | | | |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| Revenues | 114.0 | 117.8 | -3.8 | | -0.7 | | -3.2 | |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| COGS | 71.7 | 74.7 | 3.0 | | 0.7 | | 2.3 | |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| Gross profit | 42.3 | 43.1 | -0.8 | | | | -0.9 | |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| Oper. Profit | 3.7 | 4.6 | -0.8 | | | | -0.9 | |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| Pretax | 0.7 | 1.6 | -0.9 | | | | -0.9 | |
| income | | | | | | | | |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| Net income | -3.0 | -0.7 | -2.3 | -1.6 | | | -0.7 | |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| | | | | | | | | |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| Total assets | 135.9 | 129.4 | 6.5 | -1.6 | | 4.2 | 2.3 | 1.4 |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| Total | 70.8 | 61.8 | 8.9 | | | 4.2 | 3.2 | 1.4 |
| liabilities | | | | | | | | |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| | | | | | | | | |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| ST | 18.5 | 13.5 | 5.0 | | | 4.2 | 0.8 | |
| borrowings | | | | | | | | |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
| LT | 8.1 | 5.8 | 2.3 | | | | 2.3 | |
| borrowings | | | | | | | | |
+--------------+-------+-----------+--------+------+------+-----+------+-----+
1) Previously announced reversal of tax assets reduces net income and equity
by EUR 1.6m
2) A reclassification and elimination of sales resulted in a reduction in
revenues of EUR 0.7m and a corresponding reduction in COGS resulting in zero
effect on gross profit.
3) A reassessment on factored receivables increased ST borrowings by EUR 4.2m.
Receipts from the financial institution previously netted against trade
receivables have now been reported separately as short-term borrowings and
receivables. The transaction was settled in Q1 25.
4) A change in classification of a contract from sale to lease lowered
revenues by EUR 3.2m and net income by EUR 0.7m. The revenue and profit from
the underlying customer agreement will be recognized over the contract term.
The corresponding effect on the balance sheet is an increase in assets of EUR
2.3m and EUR 3.2m increase in financial liabilities.
5) Facility lease adjustments to include renewals increased liabilities and
total assets by EUR 1.4m
The 2024 Annual Report reflecting these final results is expected to be
published Monday 23 June 2025 along with the call for the Annual General
Meeting.
For further information please contact:
Simon Bolton, Group CEO +31 33 285 1773
Mikael Clement, CSO +47 9900 8000
www.envipco.com
[email protected] (mailto:[email protected])
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 Børs (Symbols:
ENVI/ENVIP). 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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