EQS-News: Wolftank Group AG / Key word(s): Annual Results
2024 results: Wolftank Group exceeds the EUR 100m sales threshold

16.05.2025 / 09:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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2024 results: Wolftank Group exceeds the EUR 100m sales threshold

• Sales increased to EUR 121.5m (+40%) driven by organic growth and
acquisition
• Adjusted EBITDA amounts to EUR 9.4m (2023: EUR 8.5m), adj. EBIT at EUR
5.2m (2023: EUR 4m)
• Clear focus on profitability and operational efficiency

Wolftank Group (ISIN: AT0000A25NJ6) has achieved strong sales growth in
the 2024 financial year and performed robustly despite a challenging
economic environment. Consolidated sales rose by 40% to EUR 121.5m (2023:
EUR 86.8m), driven by positive developments in the business segments and
the first-time full consolidation of the Italian subsidiary Petroltecnica
for the entire year.

The earnings performance was impacted by one-off effects, in particular
the conservative revaluation of inventories and receivables, higher
depreciation and amortisation due to consolidation measures, and balance
sheet adjustments. Overall, the one-off effects amounted to EUR 2.7m.
Adjusted for these effects, EBITDA amounted to EUR 9.4m and a margin of
7.7% (EBITDA 2023: EUR 8.5m, 10%). Adjusted EBIT was EUR 5.2m with an EBIT
margin of 4.2% (EBIT 2023: EUR 4.0m, 4.6%). Including all effects, EBITDA
for 2024 amounted to EUR 8.6m and EBIT to EUR 2.5m.

Adjusted for effects, profit before tax came in at EUR 3.0m (2023: EUR
2.0mm) and profit after tax totalled EUR 1.0m, compared to EUR 0.5m in the
previous year. Including all effects, profit before tax was at EUR 0.3m,
while profit after tax stood at EUR -1.5m.

“The 2024 results demonstrate our operational strength even under volatile
conditions. Conservatively recognized one-off accounting effects allow us
to build on a solid foundation and focus fully on effective operational
implementation, profitable scaling and sustainable growth.” Says Simon
Reckla, CEO of the Wolftank Group, commenting the development.

Wolftank Group´s equity remained at previous year's level at EUR 24.9m
(2023: EUR 24.6m), and the equity ratio was stable at 22.9% (2023: 22.4%).
Net cash flow was solid at EUR 9.3m (2023: EUR 10.9m). ROE amounted to
1.2% (2023: 8.2%). Despite the significant growth in sales, net debt rose
only moderately to EUR 24.1m (2023: EUR 21.0m).
 

Segment performance: Growth in all areas, solid earnings base despite
one-off effects
Wolftank Group's activities are currently divided into three business
segments: Environmental Services, Industrial Coatings and Maintenance, and
Hydrogen and Renewable Energies. Environmental Services and Industrial
Coatings are the Group's core business areas and thus form the foundation
of its business activities. The stability and maturity of these segments
represent a competitive advantage and support growth in the Hydrogen and
Renewable Energies segment.

The Environmental Services segment performed strongly, achieving a sales
growth of more than 50% to EUR 79.6m (2023: EUR 51.7m). The notable rise
is mainly attributable to the first-time full-year consolidation of the
Italian subsidiary Petroltecnica. Adjusted EBITDA amounted to EUR 7.1m
(2023: EUR 5.5m), corresponding to an EBITDA margin of 8.9%.

In Industrial Coatings and Maintenance, sales rose to EUR 16.8m (2023: EUR
14.5m), supported by targeted price adjustments to offset higher material
and production costs. The majority of one-time effects incurred was
recorded in this segment. Adjusted for these effects, EBITDA amounted to
EUR 1.0m (2023: EUR 2.7m) and a margin of 6.1%.

The Hydrogen & Renewable Energies segment continued its dynamic
development. With sales of EUR 25.1m (2023: EUR 20.6m), project awards –
particularly in Italy – are already reflected in the results. The segment
achieved an adjusted EBITDA of EUR 1.3m (2023: EUR 0.3m) and an EBITDA
margin of 5.1%.

Outlook for 2025: Focus on consolidation and profitability
The Group expects the environment to remain complex in 2025. Geopolitical
uncertainties and subdued investment activity are shaping market dynamics.
Wolftank Group is responding to these challenges with a clear focus on
operational efficiency, targeted consolidation, and profitable growth. The
Group is reorganizing its already lean structure and will focus on two
business units in the future. Industrial Coatings & Maintenance segment
will be integrated into the Environmental Services segment from the 2025
fiscal year, the Hydrogen and Renewable Energies segment will remain
unchanged.

“With our business areas, we dispose of the past – for example through
environmental remediation and recycling – and supply the future with
renewable energies. Our two business units will reflect this even more
clearly in future, strengthening our core competencies and opening up
additional synergies", says CEO Simon Reckla.

To ensure optimal positioning for the future, the Group is currently
developing its Strategy 2030, which is set to be finalized in H2 2025. The
current focus lies on consolidation and profitability. In parallel,
products and services are being developed further. “Despite a challenging
environment, the structural drivers of our markets remain intact. We are
consistently focusing on operational excellence and aim to further expand
our leading role in environmental and energy solutions.”

The environmental balance of the group, which voluntarily switched its
reporting standard to ESRS and CSRD this year, clearly shows that every
gram of CO[2] emitted by the Wolftank Group in the course of its business
activities saves 10 grams of CO[2]. “This once again demonstrates that we
are a pure-green player that scores with financial discipline and
technological innovation,” concludes CEO Reckla.
 

Key Financial Highlights

    2024 2023 2022
Sales  EURm 121.5 86,8 62,7
EBITDA EURm 9.4* (8.6) 8,5 3,6
EBITDA margin % 7.7* (7.1) 10,0 5,5
EBIT EURm 5.2* (2.5) 4,0 0,07
EBIT margin % 4.2* (2.0) 4,6 0.1
Profit before tax  EURm 3.0* (0.3) 2.0 -0.66
Profit after tax EURm 1.0* (-1.5) 0.5 -1.6
Net cash flow EURm 9.3 10,9 3.8
Equity ratio  % 22.9 22.4 32.6

*adjusted

Wolftank Group's complete Annual Sustainability Report is available online
(in English): [1] https://insight.wolftankgroup.com 

 

About Wolftank Group
Wolftank Group is a leading global provider of environmental remediation
and refueling solutions for renewable energies. Its range of environmental
services includes due diligence for environmental risks, customized
services for soil and groundwater remediation and recycling. In the area
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 - for example by supplying
modular hydrogen and LNG refueling systems on a turnkey basis. The Group's
subsidiaries in eight countries on three continents are managed by
Wolftank Group AG, based in Innsbruck, Austria. Wolftank Group AG shares
(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 Stock Exchange and
the Berlin Stock Exchange. Further information:
[2] http://www.wolftankgroup.com

Contact:
Wolftank Group Investor Relations
Phone: +43 512 345726
E-mail: investor-relations@wolftankgroup.com 

Disclaimer:
This communication contains forward-looking statements based on the
current knowledge, expectations and projections of the management of
Wolftank Group AG concerning the future. All statements are subject to
potentially uncertain assumptions and risks, which may result in material
deviations from the statements or results communicated directly or
indirectly. Such statements can be identified by the use of 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 assumes no obligation to adjust, correct or
monitor statements made in this report in the future.

 

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16.05.2025 CET/CEST This Corporate News was distributed by EQS Group.
www.eqs.com

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Language: English
Company: Wolftank Group AG
Leopoldstraße 2
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: 2138998

Weitere Handelsplätze: München Freiverkehr m:access Frankfurt Freiverkehr,
XETRA

 
End of News EQS News Service

2138998  16.05.2025 CET/CEST

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References

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