ENVIPCO Q2 26 Return to positive growth, building a strong pipeline

Q2 26 highlights:

- Group revenues EUR 26.1m, up 13% y/y on higher Europe sales and stable North America operations
- Gross margin of 32.2% continue to reflect investments in service teams and underutilization in assembly operations
- EBITDA EUR -1.7m with operating profit at EUR -3.7m
- Building solid 2027 backlog with four UK retailer wins for approximately 5,400 RVMs announced to date
- José Matthijsse assumed CEO position in May 2026

Amersfoort, The Netherlands, 12 August 2026 - Envipco Holding N.V. ("Envipco" or "the Company"), a leading global provider of recycling systems and Reverse Vending Machine (RVM) technology, returned to growth in Q2 26 with revenues of up 13% to EUR 26.1m driven by higher RVM revenues from European operations. On a product line basis, RVM revenues increased 20% to EUR 16.6m on higher sales in both USA and Europe, while program service revenues were up 4% to EUR 9.5m.

Geographically, Europe saw an 18% revenue increase to EUR 17.1m. North America revenues increased 5% to EUR 9.0m, up 8% on a constant currency basis.

Gross margins were 32.2% compared to 36.6% in Q2 25, reflecting further additions in the service organization and underutilization of the company’s assembly operations. Gross profit for the quarter ended at EUR 8.4m, in line with the second quarter last year.

Operating expenses amounted to EUR 12.1m in the second quarter, up 17% y/y mainly reflecting a headcount increase from 505 at the end of Q2 25 to 646 at the end of Q2 26. EBITDA for the second quarter of 2026 ended at EUR -1.7m, compared to an EBITDA of EUR 0.4m in Q2 25, with operating profit of EUR -3.7m, compared to EUR -1.9m in Q2 25.

For the first half of 2026 revenue increased by 4% to EUR 45.8m, with 33.0% gross margin and a gross profit of EUR 15.1m. EBITDA for the first half amounted to EUR -3.8m, down from EUR 0.9m in the first half of 2025, with the operating loss widening to EUR 8.2m from EUR 3.9m.

Outlook:
Envipco is experiencing market tailwinds as DRS is being mandated across the EU and beyond on basis of approved regulation and enacted DRS legislation. Several European markets are in process of launching, or expected to, launch their deposit return systems in the years to come which could triple the company’s total addressable market.

While order intake has been slower than anticipated, the company expects to further build market position in Poland and will deliver and build on Portugal wins. Envipco expects robust opportunities in Romania on the tail of DRS implementation as collection rates lag targets. The company is experiencing strong sales momentum in the Netherlands.

Greece is progressing towards a DRS launch which is expected to offer significant commercial opportunities for the company. The UK is advancing towards October 2027 DRS launch and UK retailers are actively preparing for commercial deliveries from 2027. Envipco is off to a strong start in the UK with four wins to date for -5,400 RVMs. Envipco is heavily engaged in the remaining undecided UK market.

The company’s US operations are expected to remain stable, with some growth in RVM sales from new RVM orders offset by lower volumes in program services.

While continuing to invest in strategic priorities, Envipco will remain focused on efficiency, capital allocation, and cash conversion. The company maintains sufficient liquidity to fund current operations and investments. The company expects to improve its liquidity position through working capital optimization along with financing arrangements for RVM assets under throughput agreements.

Results presentation:
The company will host a webcast to present the results today, 12 August 2026 at 8:00 a.m. CEST. To join the webcast, use the following link: www.envipco.com/investors. Following the presentation, it will be opened to questions from the audience. The presentation and the following Q&A session will be in English.