Significant recovery of turnover (+58%) with promising prospects in the hydrogen market, result still delayed due to ongoing pandemic effects.
Wolftank-Adisa Holding AG, headquartered in Innsbruck, today announced the group’s half-year figures. Compared to the same period of last year, sales increased by +58% from EUR 12.8 million to EUR 20.3 million. This is well in line with the recovery of the business towards pre-pandemic levels, despite the almost complete absence of the very high-margin turnover in China, which had declined by 98% at the first lock-down in 2020. Compared to 2019, related to the strict travel restrictions still in place, revenues of around EUR 16m could not be compensated on an annual basis (“force majeur”). The company assumes that these travel restrictions to China will probably continue until Q2/2022. The still existing covid-related restrictions and termination bans in the Italian market are burdening the operating business and a still sluggish granting of building permits is causing delays in the processing of the well-filled order books. In addition, there is currently a negative margin effect from price increases within the supply chain. In summary, this led to a slightly negative EBITDA of EUR -0.2 million in the first half of 2021 and correspondingly to a negative EBIT of EUR -1.6 million.
Compared to the previous year, the operational picture is extremely positive. The handover of a hydrogen fuelling station in innovative design to the Bolzano transport authority represents a highlight and a significant milestone for Wolftank Hydrogen Ltd.: The fully redundant hydrogen refuelling station with a downtime of less than 1 day per year was built in only 9 weeks. This reinforces the company’s strategy to exploit the hydrogen refuelling station market with flexible modules in container design (“proof-of-concept”). The high infrastructure requirements of the EU in connection with the European Green Deal are supporting this growth scenario by means of the recovery funds set up for this purpose. The construction of more than 5,000 new hydrogen filling stations is therefore expected in the next few years. A significant number of these are already in the ordering phase, especially in the municipal transport sector. Wolftank Group’s initial goal is to achieve an annual production output of 22 refuelling stations.
To ensure production capacity and know-how in the required high-security control software and dispenser technology, the company has acquired a stake in its previous supplier, the Austrian EDC-Anlagentechnik GmbH. Wolftank-Adisa is thus at the cutting edge of technology and able to deliver straight away.
The situation is similar for the LNG infrastructure for heavy transport: for the large number of LNG trucks (>20,000) already travelling on Europe’s long-distance routes, a good 2,000 LNG refuelling facilities are needed. Of these, only around 400 have been built so far. Here, too, Wolftank-Adisa will offer an excellent product with a modular system to the market. 9 LNG refuelling facilities are under construction or already completed in 2021. The target here is 16 tank facilities per year.
From today’s perspective, the company is therefore very confident of achieving business figures at pre-pandemic level in 2021.
About Wolftank-Adisa Holding AG:
Wolftank-Adisa Holding AG is the parent company of an international group of companies focusing on environmental protection services for polluted soil, facilities and water, remediation and monitoring of (large) tank facilities, as well as full-service engineering services for (Hydrogen/LNG) tank facilities. The company is active worldwide and has various patented application technologies at its disposal with the aid of high-tech epoxy resins developed in-house.
The share of Wolftank-Adisa Holding AG (WKN: A2PBHR; ISIN: AT0000A25NJ6) is listed in the direct market plus segment of Vienna Stock Exchange and traded (open market) on Xetra, Quotrix, the Frankfurt, Munich and Düsseldorf stock exchanges.
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