EnviTec Biogas AG (ISIN: DE000A0MVLS8) reported first-half 2026 results in line with expectations, with revenues and total output exceeding the prior-year period but earnings declining, as anticipated. The company also announced a significant acceleration of its transition from electricity to biomethane production, underpinned by recent EEG auction awards and a new investment programme.
For the first six months of 2026, EnviTec generated revenues of EUR 169.2 million, up from EUR 148.4 million in H1 2025. Consolidated total output, including plants under construction, rose to EUR 182.9 million from EUR 164.9 million. The increase reflected higher revenues in Own Plant Operation and greater capacity utilisation in Plant Construction. However, EBITDA fell to EUR 21.4 million from EUR 26.3 million, and earnings before taxes (EBT) stood at EUR 4.4 million, down from EUR 10.2 million. Net income reached EUR 3.1 million, or EUR 0.21 per share, compared with EUR 8.1 million and EUR 0.55 per share a year earlier.
The earnings decline was mainly due to higher costs of placing bio-LNG on the market and the retroactive abolition of double counting for advanced biofuels, effective 1 January 2026. Additionally, a substantial proportion of ongoing Plant Construction projects had not yet been finally invoiced as of 30 June 2026.
In the Own Plant Operation segment, revenues rose to EUR 123.4 million from EUR 107.1 million, while total output was EUR 120.0 million. Segment EBT reached EUR 14.4 million, down from EUR 20.6 million, as higher production and sales volumes were offset by the abolition of double counting and increased market placement costs. The Service segment reported revenues of EUR 23.8 million and EBT of EUR -3.3 million, mainly 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. The order backlog stood at EUR 143.1 million as of 30 June 2026, with EUR 112.1 million related to international projects, particularly in Sweden and Spain.
A key development 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. EnviTec plans additional investments of around EUR 100 million by 2029 for construction, refurbishment, and conversion of further plants to bio-LNG.
Jörg Fischer, CFO of EnviTec Biogas AG, commented, “The first half of 2026 progressed in line with our expectations. The retroactive abolition of double counting and the costs of placing bio-LNG on the market are weighing noticeably on us this year, but we remain clearly profitable. In Own Plant Operation, we are benefiting from expanded production capacity and significantly higher GHG quota sales volumes. Furthermore, we can already see pricing for long-term supply and quota contracts developing in a constructive direction following the abolition of double counting. With a strong equity ratio, stable cash flows and comfortable cash reserves, we also possess a very solid financial foundation for our new investment programme.”
The equity ratio stood at 45.2% as of 30 June 2026, up from 40.9% at year-end 2025. Cash and cash equivalents increased moderately to EUR 26.8 million from EUR 25.7 million.
Olaf von Lehmden, CEO of EnviTec Biogas AG, stated, “With the EEG auction awards and the subsequent investment programme we are accelerating the transition of Own Plant Operation from electricity to biomethane production, supported by a solid EEG foundation. In Plant Construction, we continue to see strong demand in international markets, while the Building Modernisation Act gives biomethane a statutory outlook in the German heating market for the first time. To meet that demand, we now need swift, binding rules for the green gas quota and reliable, technology-neutral conditions for gas grid connections. Both the additional initial demand for biomethane of approximately 2.4 TWh and the expected market ramp-up can be met by the German biogas industry.”
For the full year 2026, the Executive Board confirmed its forecast of total output or revenues between EUR 330 million and EUR 370 million and EBT between EUR 5 million and EUR 15 million. EnviTec 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. The original release can be viewed on www.newmediawire.com.
