EnviTec Biogas AG (ISIN: DE000A0MVLS8) reported first-half 2026 results that met expectations, with revenues rising to EUR 169.2 million from EUR 148.4 million a year earlier, while total output increased to EUR 182.9 million from EUR 164.9 million. The gains were driven by higher revenues in Own Plant Operation and greater capacity utilisation in Plant Construction, according to results released via NEWMEDIAWIRE. However, earnings declined as anticipated: EBITDA fell to EUR 21.4 million from EUR 26.3 million, and earnings before taxes (EBT) dropped to EUR 4.4 million from EUR 10.2 million.
The profit decline stemmed mainly from higher costs of placing bio-LNG on the market and the retroactive abolition of double counting for advanced biofuels, effective from 1 January 2026. Additionally, many Plant Construction projects had not yet been finally invoiced as of 30 June 2026, delaying profit recognition under German commercial law. Consolidated net income reached EUR 3.1 million, or EUR 0.21 per share, compared with EUR 8.1 million, or EUR 0.55 per share, in the prior-year period.
Segment performance was mixed. Own Plant Operation, the largest segment, saw revenues climb to EUR 123.4 million from EUR 107.1 million, though its EBT slipped to EUR 14.4 million from EUR 20.6 million. Service revenues were EUR 23.8 million versus EUR 26.5 million, with EBT at EUR -3.3 million compared to EUR 1.3 million, largely due to consolidation effects. Plant Construction showed a marked recovery: total output doubled to EUR 36.5 million, revenues rose to EUR 22.0 million, and EBT improved to EUR -6.8 million from EUR -11.7 million.
A key development with long-term implications was EnviTec’s success in the Federal Network Agency’s biomass auction in June 2026, securing awards for plants with around 16 MW of electrical capacity. This provides renewed security for a substantial part of the electricity portfolio in Own Plant Operation for another 12 years. The company plans additional investments of around EUR 100 million by 2029 for construction, refurbishment, and conversion of further plants to bio-LNG.
CFO Jörg Fischer said the first half progressed in line with expectations, noting that while the retroactive abolition of double counting and bio-LNG placement costs weigh on results this year, the company remains clearly profitable. He added that expanded production capacity and higher GHG quota sales volumes are benefiting Own Plant Operation, and that pricing for long-term supply and quota contracts is developing constructively. The equity ratio stood at 45.2% as of 30 June 2026, up from 40.9% at year-end 2025, with cash and cash equivalents at EUR 26.8 million.
CEO Olaf von Lehmden said the EEG auction awards and subsequent investment programme are accelerating the transition of Own Plant Operation from electricity to biomethane production, supported by a solid EEG foundation. He highlighted strong demand in international Plant Construction markets, particularly Sweden and Spain, where the order backlog includes EUR 112.1 million of the total EUR 143.1 million. Von Lehmden also noted that the Building Modernisation Act gives biomethane a statutory outlook in the German heating market for the first time, but called for swift, binding rules for the green gas quota and reliable, technology-neutral conditions for gas grid connections to meet additional initial demand of approximately 2.4 TWh.
The Executive Board confirmed its full-year 2026 forecast of total output or revenues between EUR 330 million and EUR 370 million and EBT between EUR 5 million and EUR 15 million, and continues to expect rising revenues and earnings in 2027. The full interim report is available at https://www.envitec-biogas.com/company/investor-relations/ir-reports.
