EnviTec Biogas AG: Annual General Meeting Highlights Positive Performance and Dividend Increase

EnviTec Biogas AG (ISIN: DE000A0MVLS8) held its Annual General Meeting on June 25, 2024. Shareholders approved a dividend of EUR 3.00 per share for the fiscal year 2023, reflecting the company's strong performance. The meeting saw attendance from shareholders holding around 84% of the voting rights. All agenda items were approved by a large majority.

Chief Financial Officer Jörg Fischer highlighted the company's investments, totaling EUR 200 million since 2021, with EUR 130 million already invested by year-end. Key developments included expanding biogas upgrading activities and entering new markets like the USA.

EnviTec generated EUR 80.8 million in total output during Q1 2024, with earnings before taxes at EUR 14.5 million. Total output for 2024 is expected to be between EUR 360 million and EUR 400 million, with EBT between EUR 40 million and EUR 50 million, despite a decline compared to 2023 due to one-time effects in the Energy unit.

CEO Olaf von Lehmden emphasized the need for political support in Germany while noting positive momentum in European and US markets. The company's strategy focuses on new applications in gas upgrading and fermentation of residual materials, shifting away from electricity generation from biogas.