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17.05.2024 10:00:34 - dpa-AFX: EQS-News: Wolftank Group with record financial results and strategic growth in 2023 (english)
Wolftank Group with record financial results and strategic growth in 2023
EQS-News: Wolftank-Adisa Holding AG / Key word(s): Annual Results/ESG
Wolftank Group with record financial results and strategic growth in 2023
17.05.2024 / 10:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Wolftank Group with record financial results and strategic growth in 2023
* Sales increased by approx. 40% to EUR 87m, up from EUR 62.7m in 2022
Wolftank Group (Wolftank-Adisa Holding AG, ISIN: AT0000A25NJ6) had a
landmark year in 2023, driven by its continued focused buy-and-build
strategy and clear vision. A leader in energy and environmental solutions
technologies, the Group delivered a strong performance in the past year,
exceeding market expectations. Sales were at record level, increasing by
approximately 40% to EUR 87m, up from EUR 62.7m in 2022. The operative
performance climbed to EUR 95.3m, a robust improvement of more than 45%
(2022: EUR 65.3m). EBITDA increased by 136% to EUR 8.5m (2022: EUR 3.6m) or
10% of sales (EBITDA margin 2022: 5.5%).
EBIT showed a significant turnaround from EUR 0.07m in 2022 to EUR 4.0m,
moving from close to break-even to solid profitability. The EBIT margin on
sales improved to 4.6% (2022: 0.1%). Adjusted for the amortization of
goodwill, which was significant after the Group's acquisitions in the past
years, EBIT amounted to EUR 5.0m, the adjusted EBIT margin stood at 5.7%.
Profit before tax reached EUR 2.0m (2022: EUR -0.66m), while profit after
tax amounted to EUR 0.5m (2022: EUR -1.56m).
"We successfully capitalized on key opportunities, delivered the highest
sales in our history, increased earnings and strengthened margins in 2023.
With this financial performance, we exceeded the forecasts of financial
markets. This is clear evidence that our strategic initiatives are working",
said Peter Werth, CEO of Wolftank Group.
Wolftank Group's equity improved to EUR 24.6m (2022: EUR 20.5m) in 2023. The
equity ratio amounted to 22.4% (2022: 32.6%). Cash flow from operating
activities was boosted to EUR 7.2m (2022: EUR 0.28m), cash flow from
financing activities of EUR 6.2m remained stable (2022: EUR 6.3m).
Segment Performance
Wolftank Group's operations are divided into three business segments:
Environmental Services, Industrial Coatings and Maintenance, Hydrogen &
Renewable Energies. The Group's core businesses, environmental remediation
and industrial coatings, remain the foundation of its operations. The
stability and maturity of these segments provide a competitive advantage,
supporting the strong order backlog in hydrogen and renewable energy.
In Environmental Services, sales exceeded expectations at EUR 51.7m (2022:
EUR 34.9m), with EBITDA more than doubling to EUR 5.5m (2022: EUR 2.1m) and
an EBITDA margin of 10% (2022: 6%). The Industrial Coatings and Maintenance
segment increased sales to EUR 14.5m (2022: EUR 8.5m), delivering an EBITDA
of EUR 2.7m (2022: EUR 1.9m) and solid EBITDA margins of 18.6% (2022:
22.4%). The sales of Hydrogen & Renewable Energies amounted to EUR 20.6m
(2022: EUR 19.37m). Significant non-capitalizable public tender preparation
and documentation costs had a direct impact on the income statement,
contributing to EBITDA of EUR 0.3m (2022: -0.4m) and EBITDA margin of 1.5%
in 2023 (2022: -2.1%).
Strategic growth: Strengthening core business while expanding opportunities
in hydrogen
Significant strategic expansion and strong financial performance reflected
the company's growth and innovation across its global operations. One of the
key moves in 2023 was the acquisition of a majority stake in Petroltecnica,
a leading Italian environmental services provider, for EUR 4m. This
acquisition enhanced the Group's environmental offering, expanding its
market presence to a leading position in Italy. Petroltecnica, specializing
in environmental remediation, operates several recycling facilities and has
a very strong market position in the oil and gas, chemical, and
manufacturing sectors.
In terms of organic growth, Wolftank Group established a subsidiary in
California, aligning with the strategic opportunities presented by the
U.S.'s commitment to climate protection. Wolftank USA Inc. aims to
capitalize on this environment by introducing the Group's innovative
hydrogen solutions. Strategic partnerships for hydrogen refueling stations
in Italy and Germany underscore the Group's leadership in sustainable
mobility solutions. The establishment of a new, larger production facility
for modular hydrogen refueling systems, investments in the development of
solutions for intralogistics and power backup systems demonstrate Wolftank's
commitment to leading the industry with innovations. The organic growth is
proven by one of the industry's most consistent order backlogs in hydrogen
refueling stations, already showing a sharply growing track for the coming
years.
"We are consistently implementing our strategy. The acquisition of
Petroltecnica and our entry into new markets like the U.S. are critical
steps in our journey towards sustainable growth. We are a pure green
company, excellently positioned to continue leading the energy transition
towards an emission-free economy. We will benefit from long-term subsidized
investments in green infrastructure, backed by a very stable and mature core
business in environmental services," commented CEO Peter Werth. "We are
confident that our focused strategy will continue to drive growth and create
long-term value for our shareholders."
Excellent outlook for 2024
Wolftank Group's core businesses Environmental Services and Industrial
Coatings & Maintenance, which account for three-quarters of its operations,
have been significantly strengthened and had a good start to the year,
demonstrating stability and growth potential. This solid foundation supports
the Group's targeted broader growth objectives and enhances resilience in
more volatile market conditions.
Looking ahead, the hydrogen segment is set to take off, driven by rising
market needs and Wolftank's strong positioning through long-standing
expertise. Demand for new refueling stations remains strong, with a
significant order backlog of 158m reflecting a very promising growth
trajectory. With a very robust portfolio of projects, particularly in
hydrogen and renewable energy, management targets sales between EUR 110m and
EUR 127m in 2024. "Our strategic initiatives and strong market position set
the stage for another year of growth. We are excellently positioned to
capitalize on the opportunities of the energy transition through our
comprehensive range of services, commitment to innovation and strategic
expansion", concluded Peter Werth.
Key Financial Highlights
Access the Wolftank Group Annual Sustainability Report online:
https://insight.wolftankgroup.com/report-2023/
About Wolftank Group
Wolftank Group is a leading technology partner for energy and environmental
solutions operating worldwide. In the field of energy mobility and
logistics, the Group supports customers in more than 20 countries to
implement projects in an efficient and environmentally friendly way. For
this, it develops and implements tomorrow's technologies to decarbonize
transport and build the infrastructure for zero-emission mobility - such as
turnkey delivery of modular hydrogen and LNG refueling facilities. In the
area of environmental solutions, the offering includes due diligences for
environmental risks, customized services for soil and groundwater
remediation, as well as recycling. The group's subsidiaries in eight
countries on three continents are managed by Wolftank-Adisa Holding AG,
based in Innsbruck, Austria. The share of Wolftank-Adisa Holding AG (WKN:
A2PBHR; ISIN: AT0000A25NJ6) is listed in the direct market plus segment of
the Vienna Stock Exchange AG and in the m:access of the Munich Stock
Exchange and is traded on Xetra, the Frankfurt and Berlin Stock Exchanges.
Further information: www.wolftankgroup.com
Contact:
Wolftank-Adisa Holding AG
phone: +43 512 345726
email: investor-relations@wolftankgroup.com
Disclaimer:
This communication contains forward-looking statements based on current
knowledge, expectations, and projections of Wolftank-Adisa Holding AG's
management about the future. 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 using words such as "expect", "plan",
"anticipate", "target", "estimate", "assume" or similar. Consequently,
statements relating to the future are only valid at the time they are made.
The Company does not assume any obligation to adjust, correct or monitor
statements made in this communication in the future.
---------------------------------------------------------------------------
17.05.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
---------------------------------------------------------------------------
End of News EQS News Service
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1905925 17.05.2024 CET/CEST
EQS-News: Wolftank-Adisa Holding AG / Key word(s): Annual Results/ESG
Wolftank Group with record financial results and strategic growth in 2023
17.05.2024 / 10:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Wolftank Group with record financial results and strategic growth in 2023
* Sales increased by approx. 40% to EUR 87m, up from EUR 62.7m in 2022
* EBITDA grew by 136% to EUR 8.5m or 10% of sales (EBITDA margin 2022:
5.5%)
* EBIT turned significantly positive to EUR 4m, moving up from EUR 0.07m
in 2022
* Record order backlog of EUR 158m points to a positive outlook for the
following years
Wolftank Group (Wolftank-Adisa Holding AG, ISIN: AT0000A25NJ6) had a
landmark year in 2023, driven by its continued focused buy-and-build
strategy and clear vision. A leader in energy and environmental solutions
technologies, the Group delivered a strong performance in the past year,
exceeding market expectations. Sales were at record level, increasing by
approximately 40% to EUR 87m, up from EUR 62.7m in 2022. The operative
performance climbed to EUR 95.3m, a robust improvement of more than 45%
(2022: EUR 65.3m). EBITDA increased by 136% to EUR 8.5m (2022: EUR 3.6m) or
10% of sales (EBITDA margin 2022: 5.5%).
EBIT showed a significant turnaround from EUR 0.07m in 2022 to EUR 4.0m,
moving from close to break-even to solid profitability. The EBIT margin on
sales improved to 4.6% (2022: 0.1%). Adjusted for the amortization of
goodwill, which was significant after the Group's acquisitions in the past
years, EBIT amounted to EUR 5.0m, the adjusted EBIT margin stood at 5.7%.
Profit before tax reached EUR 2.0m (2022: EUR -0.66m), while profit after
tax amounted to EUR 0.5m (2022: EUR -1.56m).
"We successfully capitalized on key opportunities, delivered the highest
sales in our history, increased earnings and strengthened margins in 2023.
With this financial performance, we exceeded the forecasts of financial
markets. This is clear evidence that our strategic initiatives are working",
said Peter Werth, CEO of Wolftank Group.
Wolftank Group's equity improved to EUR 24.6m (2022: EUR 20.5m) in 2023. The
equity ratio amounted to 22.4% (2022: 32.6%). Cash flow from operating
activities was boosted to EUR 7.2m (2022: EUR 0.28m), cash flow from
financing activities of EUR 6.2m remained stable (2022: EUR 6.3m).
Segment Performance
Wolftank Group's operations are divided into three business segments:
Environmental Services, Industrial Coatings and Maintenance, Hydrogen &
Renewable Energies. The Group's core businesses, environmental remediation
and industrial coatings, remain the foundation of its operations. The
stability and maturity of these segments provide a competitive advantage,
supporting the strong order backlog in hydrogen and renewable energy.
In Environmental Services, sales exceeded expectations at EUR 51.7m (2022:
EUR 34.9m), with EBITDA more than doubling to EUR 5.5m (2022: EUR 2.1m) and
an EBITDA margin of 10% (2022: 6%). The Industrial Coatings and Maintenance
segment increased sales to EUR 14.5m (2022: EUR 8.5m), delivering an EBITDA
of EUR 2.7m (2022: EUR 1.9m) and solid EBITDA margins of 18.6% (2022:
22.4%). The sales of Hydrogen & Renewable Energies amounted to EUR 20.6m
(2022: EUR 19.37m). Significant non-capitalizable public tender preparation
and documentation costs had a direct impact on the income statement,
contributing to EBITDA of EUR 0.3m (2022: -0.4m) and EBITDA margin of 1.5%
in 2023 (2022: -2.1%).
Strategic growth: Strengthening core business while expanding opportunities
in hydrogen
Significant strategic expansion and strong financial performance reflected
the company's growth and innovation across its global operations. One of the
key moves in 2023 was the acquisition of a majority stake in Petroltecnica,
a leading Italian environmental services provider, for EUR 4m. This
acquisition enhanced the Group's environmental offering, expanding its
market presence to a leading position in Italy. Petroltecnica, specializing
in environmental remediation, operates several recycling facilities and has
a very strong market position in the oil and gas, chemical, and
manufacturing sectors.
In terms of organic growth, Wolftank Group established a subsidiary in
California, aligning with the strategic opportunities presented by the
U.S.'s commitment to climate protection. Wolftank USA Inc. aims to
capitalize on this environment by introducing the Group's innovative
hydrogen solutions. Strategic partnerships for hydrogen refueling stations
in Italy and Germany underscore the Group's leadership in sustainable
mobility solutions. The establishment of a new, larger production facility
for modular hydrogen refueling systems, investments in the development of
solutions for intralogistics and power backup systems demonstrate Wolftank's
commitment to leading the industry with innovations. The organic growth is
proven by one of the industry's most consistent order backlogs in hydrogen
refueling stations, already showing a sharply growing track for the coming
years.
"We are consistently implementing our strategy. The acquisition of
Petroltecnica and our entry into new markets like the U.S. are critical
steps in our journey towards sustainable growth. We are a pure green
company, excellently positioned to continue leading the energy transition
towards an emission-free economy. We will benefit from long-term subsidized
investments in green infrastructure, backed by a very stable and mature core
business in environmental services," commented CEO Peter Werth. "We are
confident that our focused strategy will continue to drive growth and create
long-term value for our shareholders."
Excellent outlook for 2024
Wolftank Group's core businesses Environmental Services and Industrial
Coatings & Maintenance, which account for three-quarters of its operations,
have been significantly strengthened and had a good start to the year,
demonstrating stability and growth potential. This solid foundation supports
the Group's targeted broader growth objectives and enhances resilience in
more volatile market conditions.
Looking ahead, the hydrogen segment is set to take off, driven by rising
market needs and Wolftank's strong positioning through long-standing
expertise. Demand for new refueling stations remains strong, with a
significant order backlog of 158m reflecting a very promising growth
trajectory. With a very robust portfolio of projects, particularly in
hydrogen and renewable energy, management targets sales between EUR 110m and
EUR 127m in 2024. "Our strategic initiatives and strong market position set
the stage for another year of growth. We are excellently positioned to
capitalize on the opportunities of the energy transition through our
comprehensive range of services, commitment to innovation and strategic
expansion", concluded 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 (Earnings before interest and taxes) EUR m 4.0 0.07
EBIT margin % 4.6 0.1
Profit before tax EUR m 2.0 -0.66
Profit after tax EUR m 0.5 -1.6
Cash flow from operating activities EUR m 7.2 0.28
Equity ratio % 22.4 32.6
Access the Wolftank Group Annual Sustainability Report online:
https://insight.wolftankgroup.com/report-2023/
About Wolftank Group
Wolftank Group is a leading technology partner for energy and environmental
solutions operating worldwide. In the field of energy mobility and
logistics, the Group supports customers in more than 20 countries to
implement projects in an efficient and environmentally friendly way. For
this, it develops and implements tomorrow's technologies to decarbonize
transport and build the infrastructure for zero-emission mobility - such as
turnkey delivery of modular hydrogen and LNG refueling facilities. In the
area of environmental solutions, the offering includes due diligences for
environmental risks, customized services for soil and groundwater
remediation, as well as recycling. The group's subsidiaries in eight
countries on three continents are managed by Wolftank-Adisa Holding AG,
based in Innsbruck, Austria. The share of Wolftank-Adisa Holding AG (WKN:
A2PBHR; ISIN: AT0000A25NJ6) is listed in the direct market plus segment of
the Vienna Stock Exchange AG and in the m:access of the Munich Stock
Exchange and is traded on Xetra, the Frankfurt and Berlin Stock Exchanges.
Further information: www.wolftankgroup.com
Contact:
Wolftank-Adisa Holding AG
phone: +43 512 345726
email: investor-relations@wolftankgroup.com
Disclaimer:
This communication contains forward-looking statements based on current
knowledge, expectations, and projections of Wolftank-Adisa Holding AG's
management about the future. 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 using words such as "expect", "plan",
"anticipate", "target", "estimate", "assume" or similar. Consequently,
statements relating to the future are only valid at the time they are made.
The Company does not assume any obligation to adjust, correct or monitor
statements made in this communication in the future.
---------------------------------------------------------------------------
17.05.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
---------------------------------------------------------------------------
Language: English
Company: Wolftank-Adisa Holding AG
Grabenweg 58
6020 Innsbruck
Austria
Phone: +43 512 345726
E-mail: investor-relations@wolftankgroup.com
Internet: www.wolftankgroup.com
ISIN: AT0000A25NJ6
WKN: A2PBHR
Listed: Vienna Stock Exchange (Vienna MTF)
EQS News ID: 1905925
Weitere Handelsplätze: München Freiverkehr m:access Frankfurt Freiverkehr, XETRA
End of News EQS News Service
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1905925 17.05.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
WOLFTANK-ADISA HLDG O.N. | A2PBHR | Xetra | 12,700 | 07.06.24 10:31:57 | +0,200 | +1,60% | 12,400 | 12,700 | 12,600 | 12,500 |
