Envipco Holding NV
AEX:ENVI

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Envipco Holding NV Logo
Envipco Holding NV
AEX:ENVI
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Price: 4.62 EUR -4.94% Market Closed
Market Cap: €305.3m

Envipco Holding NV
Investor Relations

Envipco Holding NV engages in recycling activities. The company is headquartered in Amersfoort, Utrecht. The company went IPO on 2011-10-04. The company is engaged in the design, development, manufacture, sale and lease of reverse vending machines (RVM), as the foundation of recycling systems for the collection and processing of used beverage containers. The company also provides technical support, RVM maintenance and accounting services for containers redeemed by the machines, which are aimed at the retail stores, bottlers and distributors, as well as materials handling services for containers that are subject to deposits mandated by law. The firm has one operating segment, RVMs, which includes operations in the United States and Germany. The company has around 10 subsidiaries active in the United Kingdom, France, Germany, the United States, the Netherlands, Sweden and Norway. The firm's main shareholder is Megatrade International SA.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 11, 2026
AI Summary
Q4 2025

Revenue: Q4 revenue €23.8 million, down 27% year‑on‑year; full year 2025 revenue €90.4 million, down 18%.

Profitability: Q4 EBITDA €0.7 million (includes €4.1 million other income); full year EBITDA €1.2 million.

Margins: Reported Q4 gross margin 25.1%; adjusted for non‑recurring items underlying Q4 margin 32.3% (full‑year reported 33.3%, adjusted >35%).

Cash & balance sheet: Cash at quarter end €59.9 million (down from €62.7m); total balance sheet €159 million (from €165m); working capital reduced by ~€5 million in Q4.

Market momentum: Management expects stronger order flow in 2026 driven by Poland, Portugal and the UK commercial cases; Poland orders already at ~1,000 (up from ~300 previously reported).

Product progress: Launched multiple new products (Compact, Magna, Quantum variants including a solar and smaller Quantum) aimed at broadening addressable retail formats and lowering install/OpEx barriers.

One‑offs & adjustments: Q4 included €4.1 million other income from reversal of Sensibin earn‑out and inventory provisions for obsolete parts that materially affected gross margin.

Corporate: CEO Simon Bolton announced he will step down at end of April; hiring process underway and transition expected before April 30.

Key Financials
Revenue (Q4)
€23.8 million
Revenue (FY 2025)
€90.4 million
Gross margin (Q4 reported)
25.1%
Gross margin (Q4 adjusted)
32.3%
Gross margin (FY 2025 reported)
33.3%
Gross margin (FY 2025 adjusted)
in excess of 35%
EBITDA (Q4)
€0.7 million
EBITDA (FY 2025)
€1.2 million
Cash (end Q4)
€59.9 million
Balance sheet total (Q4)
€159 million
Working capital (Q4 change)
reduced by roughly €5 million
Other income (Q4)
€4.1 million
CapEx (Q4)
in excess of €3 million
Capitalized R&D (Q4)
€1 million
Investments (Q4)
€4.1 million
Borrowing repayment (Q4)
€3.5 million
Employees (end Q4)
529
RVM sales (Europe, Q4)
€12.7 million
Europe revenue (Q4)
€15 million
North America revenue (Q4)
€8.7 million
Program services (North America, Q4)
€6.9 million
Program services (Europe, Q4)
€2.3 million
Poland orders (firm/installed)
around 1,000 smaller orders reported (previously ~300)
Estimated market need to 2029
about 200,000 additional RVMs needed in next 5 years (per management)
Earnings Call Recording
Other Earnings Calls

Management

Mr. Simon Bolton
CEO & Executive Director
No Bio Available
Mr. Maurice Bouri
Executive Director
No Bio Available
Mr. Robert J. Lincoln
President & COO
No Bio Available
Mr. Theo Kamperman
Interim Group Chief Financial Officer
No Bio Available
Mr. Andrew Keene
Chief Technology Officer
No Bio Available
Mr. Mikael Clement
Chief Strategy & IR Officer
No Bio Available
Ms. Filomena Cionti
Vice President of Human Resources
No Bio Available
Mr. Spencer Roberts
Managing Director of UK
No Bio Available
Mr. Lars Haglof
Managing Director of Sweden
No Bio Available
Mr. Bogdan Purcherea
Managing Director of Romania
No Bio Available

Contacts

Address
UTRECHT
Amersfoort
Van Asch van Wijckstraat 4
Contacts
+31332851773
www.envipco.com
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