EQS-News: Wolftank-Adisa Holding AG / Key word(s): Annual results/ESG Wolftank Group with record results and strategic growth in 2023 May 17, 2024 / 10:00 CET/CEST The issuer/publisher is responsible for the content of the announcement. ════════════════════════════════════════ ══════════ ════════════════════════ Wolftank Group with record results and strategic growth in 2023 • Sales increase by around 40% to EUR 87 million compared to EUR 62.7 million . in 2022 • EBITDA grows by 136% to EUR 8.5 million or 10% of sales (EBITDA margin 2022: 5.5%) • EBIT turns significantly positive at EUR 4 million, from EUR 0.07 million in 2022 • Record order backlog of EUR 158 million indicates a positive outlook for the following years The Wolftank Group (Wolftank-Adisa Holding AG, ISIN: AT0000A25NJ6) can look back on a landmark year in 2023, driven by continued focused buying and build strategy and a clear vision. As a leading provider of energy and environmental technologies, the group delivered strong performance last year and exceeded market expectations. Sales reached a record level, increasing by around 40% to EUR 87 million from EUR 62.7 million in 2022. Operating performance climbed to EUR 95.3 million, a robust improvement of more than 45% (2022: 65 .3 million EUR). EBITDA increased by 136% to EUR 8.5 million (2022: EUR 3.6 million) or 10% of sales (EBITDA margin 2022: 5.5%). EBIT recorded a significant turnaround, increasing from EUR 0.07 million in 2022 to EUR 4.0 million. It went from almost breaking even to solid profitability. The EBIT margin after sales improved to 4.6% (2022: 0.1%). Adjusted for goodwill amortization – a significant value following the group’s acquisitions in recent years – EBIT amounted to EUR 5.0 million, the adjusted EBIT margin was 5.7%. Earnings before taxes reached EUR 2.0 million (2022: EUR -0.66 million), earnings after taxes amounted to EUR 0.5 million (2022: EUR -1.56 million). “We successfully capitalized on the right opportunities and, as a result, achieved the highest sales in our history, increased profits and improved margins. With this performance we are above the forecasts of the capital markets. This is clear evidence that our strategic initiatives are working,” says Peter Werth, CEO of the Wolftank Group. The group’s equity improved to EUR 24.6 million in 2023 (2022: EUR 20.5 million). The equity ratio was 22.4% (2022: 32.6%). The cash flow from operating activities increased to EUR 7.2 million (2022: EUR 0.28 million), while the cash flow from financing activities remained stable at EUR 6.2 million (2022: EUR 6.3 million). Segment performance Wolftank Group’s activities are divided into three business areas: Environmental Services, Industrial Coatings and Maintenance, Hydrogen and Renewable Energy. The group’s core business areas, environmental remediation and industrial coatings, continue to form the foundation of its business activities. The stability and maturity of these segments represent a competitive advantage and support the strong order backlog in the hydrogen and renewable energy sectors. In the environmental services sector, sales exceeded expectations at EUR 51.7 million (2022: EUR 34.9 million), with EBITDA more than doubling to EUR 5.5 million (2022: EUR 2.1 million). and achieved an EBITDA margin of 10% (2022: 6%). The industrial coatings and maintenance segment increased sales to EUR 14.5 million (2022: EUR 8.5 million), achieved an EBITDA of EUR 2.7 million (2022: EUR 1.9 million) and a solid EBITDA -Margin of 18.6% (2022: 22.4%). Sales from hydrogen & renewable energies amounted to EUR 20.6 million (2022: EUR 19.37 million). Significant, non-capitalizable costs for the preparation and documentation of public tenders had a direct impact on the profit and loss statement and contributed to an EBITDA of EUR 0.3 million (2022: -0.4 million) and an EBITDA margin of 1.5% in 2023 (2022: -2.1%). Strategic Growth: Core Business Strengthened, Hydrogen Opportunities Expanded Strong strategic expansion and strong financial performance reflect the company’s growth and innovation in its global operations. One of the most important steps in 2023 was the acquisition of a majority stake in Petroltecnica, a leading Italian provider of environmental services, for the sum of EUR 4 million. This acquisition expanded the group’s environmental offering and expanded its market presence to a leading position in Italy. Petroltecnica specializes in environmental remediation, operates several recycling plants and has a very strong market position in the oil and gas, chemical and industrial sectors. As part of its organic growth, the Wolftank Group founded a subsidiary in California, thereby taking advantage of the strategic opportunities arising from the USA’s commitment to climate protection. Wolftank USA Inc. wants to introduce the group’s innovative hydrogen solutions in this positive environment. Strategic partnerships for hydrogen filling stations in Italy and Germany underline the group’s leadership position in sustainable mobility solutions. The construction of a new, larger production facility for modular hydrogen refueling systems as well as investments in the development of intralogistics solutions and power systems demonstrate Wolftank’s commitment to leading the industry with innovation. The organic growth is reflected in one of the industry’s most stable order books in the hydrogen filling station sector, which is expected to see strong growth in the coming years. “We are consistently implementing our strategy. The acquisition of Petroltecnica and our entry into new markets such as the USA are crucial steps on our path to sustainable growth. We are a purely green company and are excellently positioned to further advance the energy transition to an emissions-free economy. We will benefit from long-term subsidized investments in green infrastructure, supported by a very stable and mature core business in environmental services,” comments CEO Peter Werth. “We are confident that our focused strategy will continue to drive growth and long-term value for our shareholders “Excellent outlook for 2024 The core business areas of environmental services and industrial coatings & maintenance, which account for three quarters of business activity, have been significantly strengthened and have started the year well, demonstrating stability and growth potential. This solid foundation is the basis for the group’s further growth objectives and increases resilience in times of more volatile market conditions. Looking forward, the hydrogen segment will experience an upswing, driven by increasing market demand and the strong position that Wolftank occupies due to its many years of experience. The demand for new filling stations remains high, and the high order backlog of EUR 158 million shows a promising growth path. With a very robust project portfolio, particularly in the areas of hydrogen and renewable energies, management aims to achieve sales of between EUR 110 million and EUR 127 million in 2024. “Our strategic initiatives and strong market position provide the foundation for another year of growth. We are excellently positioned to take advantage of the opportunities presented by the energy transition through our comprehensive range of services, our commitment to innovation and our strategic expansion,” concludes Peter Werth. Key Financial Highlights 2023 2022 Sales EUR m 87 62.7 EBITDA EUR m 8.5 3.6 EBITDA margin % 10.0 5.5 EBIT EUR m 4.0 0.07 EBIT margin % 4.6 0.1 Earnings before taxes EUR m 2.0 -0.66 Earnings after taxes EUR m 0.5 -1.6 Cash flow from operating activities EUR m 7.2 0.28 Equity ratio % 22.4 32.6 The complete Annual Sustainability Report of Wolftank Group (in English) is available online: (1) https://insight.wolftankgroup.com/report-2023/
About the Wolftank Group The Wolftank Group is a globally operating, leading technology partner for energy and environmental solutions. In the area of mobility and logistics of energy sources, the group supports customers in over 20 countries in implementing projects efficiently and in an environmentally friendly manner. To this end, it develops and implements tomorrow’s technologies to decarbonize transport and build the infrastructure for emission-free mobility – for example through the turnkey delivery of modular hydrogen and LNG refueling systems. In the area of environmental solutions, the offering includes due diligence for environmental risks, tailor-made services for soil and groundwater remediation and recycling. The group’s subsidiaries in eight countries on three continents are controlled by Wolftank-Adisa Holding AG, based in Innsbruck. The shares of Wolftank-Adisa Holding AG (WKN: A2PBHR; ISIN: AT0000A25NJ6) are listed in the direct market plus segment of the Vienna Stock Exchange and in the m:access of the Munich Stock Exchange and are traded on Xetra, the Frankfurt and Berlin Stock Exchanges. Further information: (2) www.wolftankgroup.com
Contact: Wolftank-Adisa Holding AG Telephone: +43 (512) 345726 Email: investor-relations@wolftankgroup.com Disclaimer: This communication contains forward-looking statements that are based on the current knowledge, expectations and forecasts of the management of Wolftank-Adisa Holding AG. All statements are subject to potentially uncertain assumptions and risks that could cause actual results to differ materially from those expressed or implied by such statements. Such statements can be identified by terms such as “expect”, “plan”, “anticipate”, “aim”, “estimate”, “assume” or similar. Forward-looking statements therefore only apply as of the date on which they are made. The Company undertakes no obligation to adjust, correct or revise any statements made in this release in the future. ════════════════════════════════════════ ══════════ ════════════════════════ 05/17/2024 CET/CEST Publication of a corporate news/financial announcement, transmitted by EQS Group AG. www.eqs.com
════════════════════════════════════════ ══════════ ════════════════════════ Language: German Company: Wolftank-Adisa Holding AG Grabenweg 58 6020 Innsbruck Austria Telephone: +43 512 345726 E-Mail: Investor -relations@wolftankgroup.com
Internet: www.wolftankgroup.com
ISIN: AT0000A25NJ6 WKN: A2PBHR Exchanges: Vienna Stock Exchange (Vienna MTF) EQS News ID: 1905925 Other trading venues: Munich Free Trade m:access Frankfurt Free Trade, https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=f44547f7e772398fd1e929c9d043d976&application_id=1905925&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
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