Wolftank Group Reports Record Financial Performance and Strategic Growth in 2023

Wolftank-Adisa Holding AG achieved remarkable financial results in 2023, with sales increasing by approximately 40% to EUR 87 million, up from EUR 62.7 million in 2022. The company's EBITDA surged by 136% to EUR 8.5 million, equating to 10% of sales, as compared to a margin of 5.5% in the previous year. EBIT turned positively significant, amounting to EUR 4 million, a notable increase from merely EUR 0.07 million in 2022. A record order backlog of EUR 158 million indicates a promising outlook for the coming years.

Wolftank Group's strategic expansions included the acquisition of Petroltecnica, enhancing its environmental services and marking a significant presence in the Italian market. Furthermore, the establishment of Wolftank USA Inc. aligns with the U.S. commitment to climate protection, focusing on hydrogen and renewable energy solutions.

The company's financial stability is reflected in its improved equity of EUR 24.6 million and a robust cash flow from operating activities, which increased to EUR 7.2 million. These financial accomplishments highlight the effective implementation of Wolftank's strategic initiatives and its strong market position in energy and environmental solutions.

Looking ahead, the Group is well-positioned for continued growth, particularly in the hydrogen sector, driven by high demand for refueling stations. Management projects sales to reach between EUR 110 million and EUR 127 million in 2024, underscoring the company's positive trajectory in the energy transition landscape.