Wolftank Group Reports Preliminary H1 2025 Results with Challenging Environmental Services Performance

Wolftank Group AG achieved consolidated sales of EUR 60.8 million in the first half of 2025, nearly stable compared to the same period last year (H1 2024: EUR 62 million). Sales development was influenced by challenging economic conditions, with the Environmental Services segment declining 11.9% to EUR 45.1 million due to lower orders from framework agreements, a prolonged maintenance shutdown of a recycling plant in Italy, and customer project postponements. This segment's share of consolidated Group sales fell to 74.2% from 82.6% in H1 2024.

In contrast, the Hydrogen & Renewable Energies segment continued its growth momentum, with sales rising 45.4% to EUR 15.7 million, increasing its share of consolidated sales to 25.8%. The loss of revenue from the recycling plant maintenance amounted to around EUR 5 million, and the period was characterized by a changed product and project mix with lower profit margins. Adjusted preliminary EBITDA declined to EUR -0.1 million from EUR 4.8 million in H1 2024, and including a EUR 2.5 million provision for a first-instance ruling on damage payments to a customer in Italy, preliminary EBITDA was EUR -2.6 million.

Strict cash management led to a stable liquidity position of EUR 11.7 million and unchanged net debt of EUR 24.1 million at the end of H1 2025. The order backlog as of 30 June 2025 stood at EUR 146.3 million, providing a stabilizing effect. For the second half of 2025, Wolftank Group expects a slightly positive EBITDA in the range of EUR 1.6 million to EUR 3.1 million, driven by the resumed operation of the recycling plant, though economic conditions are not anticipated to improve substantially.

For the full year 2025, the Executive Board forecasts consolidated sales of EUR 121 million to EUR 123 million, with EBITDA expected between EUR -1.0 million and EUR 0.5 million. Adjusting for the one-time legal provision, adjusted EBITDA is projected in the range of EUR 1.5 million to EUR 3.0 million. Management has initiated strict cost reduction measures and efficiency improvements to enhance operating performance in H2 2025 and sustainably improve profit margins in 2026. Further details will be available in the full report published on 18 September 2025.