EQS-News: Wolftank-Adisa Holding AG / Key word(s): Annual Results/ESG
2022 results: Wolftank Group sales revenues up 40%, EBITDA tripled

11.05.2023 / 11:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


Press release                                                            
                                                    Innsbruck, 11 May 2023

2022 results: Wolftank Group sales revenues up 40%, EBITDA tripled

• Sales revenues of EUR 62.7 million, EBITDA of EUR 3.6 million,
turnaround in EBIT
• Significant environmental impact: Wolftank services enable a total of
57,000t CO[2] savings

The business of Wolftank Group (Wolftank-Adisa Holding AG, ISIN:
AT0000A25NJ6), specializing in technologies for energy and environmental
solutions, picked up speed in 2022. The successful buy and build strategy
that the company has been pursuing since 2014 resulted in revenues of EUR
62.7 million in 2022 (2021: EUR 44.6 million), an increase of around 40%.
Earnings before interest, taxes, depreciation and amortization (EBITDA)
tripled to EUR 3.6 million (2021: EUR 1.2 million).

Raw material price increased with limited ability to pass on to customers,
increased costs in hydrogen infrastructure due to the large pipeline of
requests for proposals and long delays in public procurement processes had
a dampening effect on profitability, but EBIT nevertheless turned slightly
into positive at EUR 0.07 million (2021: EUR -1.6 million), while earnings
before and after taxes remained at EUR -0.7 million (2021: EUR -2.8
million) and EUR -1.6 million (2021: EUR – 2.9 million), respectively. Net
debt was more than halved and decreased to EUR 4.9 million (2021: EUR 11.4
million), gearing improved to 24% (2021: 70%). The number of shares at the
end of 2022 was 4.4 million.

“We were able to show a good performance in 2022 and deliver solid results
in the existing market environment. Overall, we performed in line with
expectations and are putting increased focus on profitability this year.
At the same time, the number of inquiries has been substantially
strengthened, thus providing a solid basis for organic growth. The buy &
build strategy of the past years has guided us well through the pandemic
and is now paying off”, says Peter Werth, CEO of Wolftank Group.

Three business segments with positive environmental impact
The Wolftank Group’s business is divided into three segments:
Environmental Services, Industrial Coatings and Hydrogen and Renewable
Energies. The Group’s business activities are focused on creating positive
environmental impact and avoiding or reducing global CO[2] emissions.
According to projections for 2022, the work of the three business lines
will enable a total of more than 57,000 metric tons of CO[2] savings,
while the Group’s carbon footprint itself amounted to 4.6 metric tons of
CO[2] (Scope 1, 2, 3). 

“Our increasing sales not only support our own growth, but also reduce
global greenhouse gas emissions. Every gram of CO[2] we emit as a result
of our operations saves more than 10 grams of CO[2] globally. We are also
in pole position to gain a significant market share in the growing
hydrogen and renewable energy infrastructure needs in the coming years”,
says CEO Peter Werth.

The segment for environmental services and remediation of soil, water and
obsolete infrastructure was less affected by pandemic measures and
reported sales of EUR 34.9 million (56% of total sales). The EBITDA margin
was 6%, but should reach the target of 15% in the medium term. The
Industrial Coatings segment, which offers state-of-the-art technologies
for the protection and maintenance of tanks and pipelines, achieved sales
of EUR 8.5 million (13% of total sales) and a strong EBITDA margin of
22.7%. Although price increases in raw materials could have a temporary
impact, the segment is expected to grow strongly in the medium term.

The Hydrogen and Renewable Energies segment focuses on hydrogen and LNG as
energy carriers. 2022 was characterized by the strongest supply pipeline
in the company’s history, the processing of which, however, burdened the
cost side and thus generated an EBITDA margin of -2.2% on sales of EUR
19.4 million (31% of total sales). With decades of know-how, the Group is
ideally positioned to gain a significant market share of the growing
infrastructure demand in the hydrogen sector. The market volume in the EU
alone is estimated to total around EUR 1.5 billion over the next three

Dynamic start into 2023
The current year has accelerated business momentum, with high demand for
Wolftank Group’s services leading to a solid supply pipeline. New
strategic collaborations will ensure good utilization: in January, for
example, the Group was selected by TPER – the provider of local public
transport in the Italian region of Emilia Romagna – as an
operational-industrial partner for a joint consortium to supply integrated
hydrogen refueling systems for buses by 2026. Among other things, this
will implement the renewal of the public transport fleet in Bologna with
127 zero-emission vehicles.

Agreements with the manufacturer ARTHUR BUS for the further development
and delivery of mobile hydrogen tank containers or a distribution
agreement with EnerMech for the Australian and New Zealand industry will
further boost business. Most recently, EUR 4 million framework agreements
were booked with several leading e-mobility providers to install more than
400 mainly fast charging stations in Italy. In February, the Group also
took an expansion step into the U.S. by establishing its own subsidiary in

“We are actively investing in our organic growth and are well positioned
to make the most of opportunities in the current market environment. This
forms a strong basis for our sustainable success in the current fiscal
year,” concludes CEO Peter Werth.

The full Wolftank Group Annual Sustainability Report will be available
online from 15 May 2023:
[1] https://wolftankgroup.com/investor-relations/financial-reports/

About Wolftank Group
Wolftank Group is a leading technology partner for energy and
environmental solutions operating worldwide. In the field of energy
mobility and logistics, the Group supports customers in more than 20
countries to implement projects in an efficient and environmentally
friendly way. For this, it develops and implements tomorrow’s technologies
to decarbonize transport and build the infrastructure for zero-emission
mobility – such as turnkey delivery of modular hydrogen and LNG refueling
facilities. In the area of environmental solutions, the offering includes
due diligences for environmental risks, customized services for soil and
groundwater remediation, as well as recycling. The group’s subsidiaries in
eight countries on three continents are managed by Wolftank-Adisa Holding
AG, based in Innsbruck, Austria. The share of Wolftank-Adisa Holding AG
(WKN: A2PBHR; ISIN: AT0000A25NJ6) is listed in the direct market plus
segment of the Vienna Stock Exchange AG and in the m:access of the Munich
Stock Exchange and is traded on Xetra, the Frankfurt and Berlin Stock
Exchanges. Further information: [2] www.wolftankgroup.com

Wolftank-Adisa Holding AG
phone: +43 (512) 345726
Email: [3]investor-relations@wolftankgroup.com


This communication contains forward-looking statements based on current
knowledge, expectations, and projections of Wolftank-Adisa Holding AG’s
management about the future. All statements are subject to potentially
uncertain assumptions and risks that could cause actual results to differ
materially from those expressed or implied by such statements. Such
statements can be identified using words such as “expect”, “plan”,
“anticipate”, “target”, “estimate”, “assume” or similar. Consequently,
statements relating to the future are only valid at the time they are
made. The Company does not assume any obligation to adjust, correct or
monitor statements made in this communication in the future.


11.05.2023 CET/CEST This Corporate News was distributed by EQS Group AG.


Language: English
Company: Wolftank-Adisa Holding AG
Grabenweg 58
6020 Innsbruck
Phone: +43 512 345726
E-mail: investor-relations@wolftankgroup.com
Internet: www.wolftankgroup.com
ISIN: AT0000A25NJ6
Listed: Vienna Stock Exchange (Vienna MTF)
EQS News ID: 1630069

Weitere Handelsplätze: München Freiverkehr m:access Frankfurt Freiverkehr,

End of News EQS News Service

1630069  11.05.2023 CET/CEST


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