Wolftank Group AG reported consolidated sales of €60.8 million in the first half of 2025, nearly unchanged from the same period last year (H1 2024: €62 million), as challenging economic conditions impacted overall performance. The Environmental Services segment experienced an 11.9% decline in sales to €45.1 million, attributed to lower-than-planned orders from framework agreements, customer project postponements, and an extended maintenance shutdown at a recycling plant in Italy that caused approximately €5 million in lost revenue.
In contrast, the Hydrogen & Renewable Energies segment continued its strong growth trajectory, with sales rising 45.4% to €15.7 million, driven by robust demand in the hydrogen sector. This growth increased the segment's share of consolidated sales to 25.8%, up from 17.4% in H1 2024, demonstrating the company's strategic pivot toward renewable energy solutions and the growing importance of clean energy technologies in the global market.
Preliminary adjusted EBITDA fell to -€0.1 million, down from €4.8 million in H1 2024, primarily due to a €2.5 million provision for a first-instance ruling on damage payments to a customer in Italy and lower profit margins from a changed product and project mix. Including this provision, preliminary EBITDA was -€2.6 million. Despite these challenges, strict cash management maintained liquidity at €11.7 million and net debt stable at €24.1 million as of June 30, 2025, indicating the company's financial resilience during a difficult period.
The company's order backlog stood at €146.3 million, providing a stabilizing foundation for future operations and suggesting continued demand for its services across both business segments. For the second half of 2025, Wolftank Group expects a slightly positive EBITDA in the range of €1.6 million to €3.1 million, supported by the resumed operation of the recycling plant and ongoing cost reduction measures. For the full year 2025, management forecasts sales between €121 million and €123 million and adjusted EBITDA of €1.5 million to €3.0 million, excluding the one-time legal provision effect.
Wolftank Group has initiated strict cost reduction and efficiency measures to improve operating performance in H2 2025 and sustainably enhance profit margins in 2026. The company will publish its full H1 2025 report on September 18, 2025. Further information is available at https://www.wolftankgroup.com.
