Highlights:
- Group revenues EUR 19.7m, down 6% y/y on mixed performance in Europe
and stable operations in North America
- Gross margin 34.1%, showing sequential improvement, although continuing to
reflect underutilization in assembly operations and investments in service
teams.
- EBITDA EUR -2.1m with operating profit at EUR -4.5m
- First commercial breakthrough in the UK
- Strong commercial activity with several new wins, driving inventory and team
build
- Transition of leadership with new CEO announced
Amersfoort, The Netherlands, 20 May 2026 - Envipco, a global provider of
recycling systems and reverse vending machines, saw stable operations in North
America and mixed performance in Europe during the first quarter of
2026. Revenue declined by 6% y/y, with gross margins reflecting lower capacity
utilization and costs for ramp-up of the service
organization, reported earnings declined compared to the first quarter last
year.
Group revenues for the first quarter of 2026 amounted to EUR 19.7m. On a
product line basis, Program service revenues were up 2% to EUR 8.8m, while
RVM revenues were down 12% to EUR 10.9m on lower European RVM sales.
Gross margin was 34.1% compared to 37.3% in Q1 25. Gross profit for the
quarter ended at EUR 6.7m.
EBITDA for the first quarter of 2026 ended at EUR -2.1m, compared to an EBITDA
of EUR 0.5m in Q1 25, with operating expenses at EUR 11.2m. Q1 26 operating
profit was EUR -4.5m, compared to EUR -2.0m in Q1 25.
Outlook:
Envipco is experiencing long-term market tailwinds as DRS is being mandated
across the EU on basis of approved regulation and enacted DRS legislation.
For the current year, Envipco expects to build momentum in Poland and
Portugal. The Romanian business activity is expected to remain robust on the
tail of DRS implementation, although overall lower than last
year. Hungarian commercial activities are expected to remain steady and the
company is experiencing strong sales momentum in the Netherlands. Greece is
progressing towards a DRS launch with ongoing tenders that could offer
commercial opportunities for the company from summer 2026.
The majority of Envipco's European revenue will be new RVM sales as the
company generates limited service-revenues during DRS startup and warranty
periods. European program-service revenues will grow as the installed
base expands.
The actual timing and character of DRS introduction and go-live, the retail
structure and the procurement patterns will impact Envipco's growth going
forward, and quarterly variations are expected.
Envipco maintains its disciplined approach to managing operating costs,
investments, and working capital to ensure efficiency and readiness for growth
ahead. The company has a solid cash position to support future growth
initiatives.
Results presentation:
The company will host a webcast to present the results today, 20 May 2026 at
8:00 a.m. CEST. To join the webcast, use the following
link: www.envipco.com/investors. Following the presentation, it will
be opened to questions from the audience. The presentation and the following
Q&A session will be in English.
For further information please contact:
Mikael Clement, CSO +47 9900 8000
www.envipco.com
investors@envipco.com (mailto:envipcoinvestorrelations@envipco.com)
About Envipco Holding N.V.
Envipco Holding N.V. (Envipco), www.envipco.com, is a Netherlands-based
holding company listed on Euronext Amsterdam and Euronext Oslo Børs (Symbols:
ENVI/ENVIP). Envipco, with operations in several countries around the globe,
is a recognized leader in the development and operation of reverse vending
machines (RVMs), automated technological systems for the recovery of used
beverage containers. Known for its innovative technology and market
leadership, Envipco holds several intellectual property rights for RVM
systems, including but not limited to beverage refund deposit markings,
material type identification, compaction, and accounting.
This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-05-20 07:00 CEST.