Envitec Biogas undertaking €100mn investment programme
SUMMARY
Currently, Envitec Biogas operates 81 plants in its domestic market of Germany.
By Shardul SharmaGerman biogas producer Envitec Biogas on March 21 said it is undertaking its largest investment programme to date, with a budget of €100mn.
"Our company strategy is centered around expanding our own investment division and significantly increasing our energy production," stated CEO Olaf von Lehmden.
Currently, Envitec Biogas operates 81 plants in its domestic market of Germany, boasting a biogas generation capacity of approximately 1,500 GWh/year. Additionally, the company operates seven plants in other European countries, with a nominal annual output of 180 GWh.
With the implementation of the new investments initiated in 2023, the annual biogas generation capacity is set to rise to around 1,800 GWh/year by 2025.
“While biogas upgrading plants now account for around a third of this figure, this proportion is set to rise fast. This also makes Envitec the biggest biogas producer in Germany,” von Lehmden said.
Discussing the financial outlook, Envitec anticipates consolidated earnings (revenue) for the 2023 financial year in the range of €400 to €450mn. Adjusting for a one-time effect related to the company's energy business, earnings before tax (EBT) are expected to fall within the range of €85 to €105mn.
"While we acknowledge that matching the exceptional results achieved in 2023 may be challenging, we remain focused on sustaining profitability in 2024 and beyond," commented Jorg Fischer, CFO of Envitec. "Moreover, we are actively exploring medium- and long-term growth opportunities for our Group, supported by the substantial investment we are making."
Envitec will publish the full annual report for the 2023 financial year, including a detailed forecast for the current financial year, on May 15.
