Wolftank Group AG reported consolidated sales of €60.8 million for the first half of 2025, nearly unchanged from the €62 million recorded in the same period last year. The company's performance reflects the challenging economic conditions affecting multiple sectors, though strategic positioning in renewable energy shows promising growth.
The Environmental Services segment experienced an 11.9% decline in sales to €45.1 million, primarily due to lower-than-planned orders from framework agreements, customer project postponements, and an extended maintenance shutdown at a recycling plant in Italy that resulted in approximately €5 million in lost revenue. This segment's performance underscores the volatility in traditional environmental services markets and the impact of operational disruptions on financial results.
In contrast, the Hydrogen & Renewable Energies segment demonstrated strong growth with sales increasing 45.4% to €15.7 million, driven by robust demand in the hydrogen sector. This growth elevated the segment's share of consolidated sales to 25.8%, up from 17.4% in H1 2024, signaling the company's successful strategic pivot toward renewable energy solutions and positioning it to capitalize on the global transition to cleaner energy sources.
Preliminary adjusted EBITDA fell to -€0.1 million 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 resulting from a changed product and project mix. Including this provision, preliminary EBITDA was -€2.6 million. Despite these challenges, the company maintained strict cash management, preserving liquidity at €11.7 million and keeping net debt stable at €24.1 million as of June 30, 2025.
The company's order backlog stood at €146.3 million, providing a solid foundation for future operations and revenue stability. For the second half of 2025, Wolftank Group anticipates 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. Full-year 2025 forecasts project sales between €121 million and €123 million with adjusted EBITDA of €1.5 million to €3.0 million, excluding the one-time legal provision effect.
Wolftank Group has implemented strict cost reduction and efficiency measures aimed at improving operating performance in H2 2025 and sustainably enhancing profit margins in 2026. The company will publish its complete H1 2025 report on September 18, 2025. Additional information is available at https://www.wolftankgroup.com.
