EQS-News: 2022 results: Wolftank Group sales revenues up 40%, EBITDA tripled

EQS-News: Wolftank-Adisa Holding AG / Key word(s): Annual Results/ESG
   2022 results: Wolftank Group sales revenues up 40%, EBITDA tripled

   11.05.2023 / 11:00 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   Press release                                                            
                                                       Innsbruck, 11 May 2023

   2022 results: Wolftank Group sales revenues up 40%, EBITDA tripled

     • Sales revenues of EUR 62.7 million, EBITDA of EUR 3.6 million,
       turnaround in EBIT
     • Significant environmental impact: Wolftank services enable a total of
       57,000t CO[2] savings

   The business of Wolftank Group (Wolftank-Adisa Holding AG, ISIN:
   AT0000A25NJ6), specializing in technologies for energy and environmental
   solutions, picked up speed in 2022. The successful buy and build strategy
   that the company has been pursuing since 2014 resulted in revenues of EUR
   62.7 million in 2022 (2021: EUR 44.6 million), an increase of around 40%.
   Earnings before interest, taxes, depreciation and amortization (EBITDA)
   tripled to EUR 3.6 million (2021: EUR 1.2 million).

   Raw material price increased with limited ability to pass on to customers,
   increased costs in hydrogen infrastructure due to the large pipeline of
   requests for proposals and long delays in public procurement processes had
   a dampening effect on profitability, but EBIT nevertheless turned slightly
   into positive at EUR 0.07 million (2021: EUR -1.6 million), while earnings
   before and after taxes remained at EUR -0.7 million (2021: EUR -2.8
   million) and EUR -1.6 million (2021: EUR - 2.9 million), respectively. Net
   debt was more than halved and decreased to EUR 4.9 million (2021: EUR 11.4
   million), gearing improved to 24% (2021: 70%). The number of shares at the
   end of 2022 was 4.4 million.

   "We were able to show a good performance in 2022 and deliver solid results
   in the existing market environment. Overall, we performed in line with
   expectations and are putting increased focus on profitability this year.
   At the same time, the number of inquiries has been substantially
   strengthened, thus providing a solid basis for organic growth. The buy &
   build strategy of the past years has guided us well through the pandemic
   and is now paying off”, says Peter Werth, CEO of Wolftank Group.

   Three business segments with positive environmental impact
   The Wolftank Group's business is divided into three segments:
   Environmental Services, Industrial Coatings and Hydrogen and Renewable
   Energies. The Group's business activities are focused on creating positive
   environmental impact and avoiding or reducing global CO[2] emissions.
   According to projections for 2022, the work of the three business lines
   will enable a total of more than 57,000 metric tons of CO[2] savings,
   while the Group's carbon footprint itself amounted to 4.6 metric tons of
   CO[2] (Scope 1, 2, 3). 

   "Our increasing sales not only support our own growth, but also reduce
   global greenhouse gas emissions. Every gram of CO[2] we emit as a result
   of our operations saves more than 10 grams of CO[2] globally. We are also
   in pole position to gain a significant market share in the growing
   hydrogen and renewable energy infrastructure needs in the coming years",
   says CEO Peter Werth.

   The segment for environmental services and remediation of soil, water and
   obsolete infrastructure was less affected by pandemic measures and
   reported sales of EUR 34.9 million (56% of total sales). The EBITDA margin
   was 6%, but should reach the target of 15% in the medium term. The
   Industrial Coatings segment, which offers state-of-the-art technologies
   for the protection and maintenance of tanks and pipelines, achieved sales
   of EUR 8.5 million (13% of total sales) and a strong EBITDA margin of
   22.7%. Although price increases in raw materials could have a temporary
   impact, the segment is expected to grow strongly in the medium term.

   The Hydrogen and Renewable Energies segment focuses on hydrogen and LNG as
   energy carriers. 2022 was characterized by the strongest supply pipeline
   in the company's history, the processing of which, however, burdened the
   cost side and thus generated an EBITDA margin of -2.2% on sales of EUR
   19.4 million (31% of total sales). With decades of know-how, the Group is
   ideally positioned to gain a significant market share of the growing
   infrastructure demand in the hydrogen sector. The market volume in the EU
   alone is estimated to total around EUR 1.5 billion over the next three
   years.

   Dynamic start into 2023
   The current year has accelerated business momentum, with high demand for
   Wolftank Group's services leading to a solid supply pipeline. New
   strategic collaborations will ensure good utilization: in January, for
   example, the Group was selected by TPER - the provider of local public
   transport in the Italian region of Emilia Romagna - as an
   operational-industrial partner for a joint consortium to supply integrated
   hydrogen refueling systems for buses by 2026. Among other things, this
   will implement the renewal of the public transport fleet in Bologna with
   127 zero-emission vehicles.

   Agreements with the manufacturer ARTHUR BUS for the further development
   and delivery of mobile hydrogen tank containers or a distribution
   agreement with EnerMech for the Australian and New Zealand industry will
   further boost business. Most recently, EUR 4 million framework agreements
   were booked with several leading e-mobility providers to install more than
   400 mainly fast charging stations in Italy. In February, the Group also
   took an expansion step into the U.S. by establishing its own subsidiary in
   California.

   "We are actively investing in our organic growth and are well positioned
   to make the most of opportunities in the current market environment. This
   forms a strong basis for our sustainable success in the current fiscal
   year," concludes CEO Peter Werth.

   The full Wolftank Group Annual Sustainability Report will be available
   online from 15 May 2023:
   [1]https://wolftankgroup.com/investor-relations/financial-reports/

   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: [2]www.wolftankgroup.com

   Contact:
   Wolftank-Adisa Holding AG
   phone: +43 (512) 345726
   Email: [3][email protected]

   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.

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   11.05.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
   www.eqs.com

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   Language:    English
   Company:     Wolftank-Adisa Holding AG
                Grabenweg 58
                6020 Innsbruck
                Austria
   Phone:       +43 512 345726
   E-mail:      [email protected]
   Internet:    www.wolftankgroup.com
   ISIN:        AT0000A25NJ6
   WKN:         A2PBHR
   Listed:      Vienna Stock Exchange (Vienna MTF)
   EQS News ID: 1630069

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

    
   End of News EQS News Service


   1630069  11.05.2023 CET/CEST

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