EnviTec Biogas AG Reports Record Financial Results for FY 2023

EnviTec Biogas AG announced substantial financial achievements for the fiscal year 2023, setting new records in revenue and earnings. The company reported a total output increase of 5.9% to EUR 445.8 million, with revenues rising by 8.9% to EUR 416.8 million. Earnings before taxes (EBT) experienced a significant jump from EUR 66.6 million in the previous year to EUR 88.2 million.

Despite challenges in the Own Plant Operation segment, which saw a decline of 12.2% in sales to EUR 236.1 million due to outsourcing changes, the company benefited from extraordinary income through strategic contracts in energy trading. Meanwhile, the Service and Plant Construction segments showed remarkable growth, contributing robustly to the overall performance. The Plant Construction segment, in particular, boasted a 94.6% increase in revenue to EUR 132.1 million.

The positive financial turnout prompted EnviTec Biogas AG to propose a dividend of EUR 3.00 per share for FY 2023. Looking ahead to 2024, the company forecasts a lower EBT range of EUR 40 to 50 million, attributing the expected decline to the non-recurring impact of certain extraordinary factors from the previous fiscal years.