Envipco Revenue Falls in Transitional 2025 as EU DRS Rollouts Slow but Outlook Improves

Envipco Holding ( (NL:ENVI) ) just unveiled an update.

Envipco reported a weak fourth quarter of 2025 as slower rollouts in several existing European deposit return system markets weighed on reverse vending machine sales, driving group revenue down 27% year-on-year to EUR 23.8m and compressing reported gross margins. Initial sales in Poland, strong bulk-feed machine demand in the Netherlands and Sweden, and solid momentum in Romania partly cushioned the downturn while the group maintained a solid cash balance of EUR 59.9m.

For the full year 2025, revenue fell 21% to EUR 90.4m and EBITDA slipped to EUR 1.2m as lower capacity utilization and investments in new market service organizations eroded profitability despite adjusted gross margins remaining above 35%. Management characterizes 2025 as a transitional year but says Envipco is better positioned operationally and financially to capture upcoming EU-mandated DRS rollouts, with expected momentum in Poland, Portugal and the Netherlands and a disciplined cost and capital approach to support future growth.

More about Envipco Holding

Envipco Holding N.V. is a Netherlands-based company listed on Euronext Amsterdam and Euronext Oslo Børs that designs and operates reverse vending machines used for collecting used beverage containers under deposit return systems. The group focuses on innovative recycling technology and holds a portfolio of intellectual property around deposit markings, material identification, compaction, and accounting for global DRS markets.

Average Trading Volume: 58,458

Technical Sentiment Signal: Hold

Current Market Cap: €304M

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