- Sales increase to EUR 67.4m (H1 2025: EUR 60.8m, +10.9%)
- EBITDA at EUR 5.9m (H1 2025: EUR -2.6m), EBITDA margin at 8.8% (H1 2025: -4.3%)
- EBIT at EUR 3.5m, EBIT margin of 5.2% (H1 2025: EUR -5.1m, -8.4%)
- Profit after tax turns positive at EUR 1.3m (H1 2025: EUR -5.9m)
- Cash flow from operating activities improves to EUR 7.0m (H1 2025: EUR 4.6m), net debt at EUR 15.3m (December 31, 2025: EUR 18.9m)
- 2026 guidance confirmed: sales of approximately EUR 135m, EBITDA margin of 6–7%
Wolftank Group AG (ISIN: AT0000A25NJ6), a leading provider of environmental technologies and emission-free infrastructure solutions, achieved a significant earnings improvement in the first half of 2026. Sales rose by 10.9% to EUR 67.4m (H1 2025: EUR 60.8m). Earnings before interest, taxes, depreciation and amortization (EBITDA) turned positive at EUR 5.9m, compared with EUR -2.6m in the prior-year period. The EBITDA margin reached 8.8% (H1 2025: -4.3%). Earnings before interest and taxes (EBIT) amounted to EUR 3.5m, corresponding to a margin of 5.2% (H1 2025: EUR -5.1m, or -8.4%). Profit before tax came in at EUR 2.5m (H1 2025: EUR -6.1m), and profit after tax at EUR 1.3m (H1 2025:
EUR -5.9m).
The prior year was marked by a one-time provision related to legal proceedings in Italy, which have since been concluded through a settlement. The improvement in the first half of 2026, however, goes beyond the absence of this one-off effect and is to a significant extent attributable to the efficiency measures implemented. The first quarter additionally benefited from the final invoicing of a major project in Austria and from high-margin environmental emergency response operations in Italy. Underlying operating performance was consistent across both quarters.
Order intake in the first half amounted to EUR 58.3m (H1 2025: EUR 83.7m), following the rhythm of public tenders and contract awards in the Group’s project-based business, where individual large contracts significantly influence period-to-period comparisons. The order backlog stood at approximately EUR 118m as of 30 June 2026, continuing to provide visibility for the remainder of the financial year. “In the first half, we delivered what we announced for 2026: the return to operating profitability. The earnings improvement comes from multi-year projects successfully completed and invoiced, from our cost discipline and from a more efficient organization. At the same time, we are consistently advancing the implementation of our long-term strategy”, says Simon Reckla, CEO of Wolftank Group.
Segments
In the Environmental Services segment, sales rose by 26.2% to EUR 56.9m (H1 2025: EUR 45.1m). EBITDA improved to EUR 4.0m, corresponding to a margin of 7.0% (H1 2025: EUR -2.4 m, -5.3%). The development was driven by new framework agreements in Italy and continued demand for environmental emergency response: in the first six months, the Group carried out more than 100 emergency interventions in Italy, a business line that is largely independent of investment cycles. Newly concluded framework agreements for environmental services and for soil and groundwater remediation in Italy are multi-year in nature and improve planning visibility beyond the current financial year.
In the Hydrogen & Renewable Energies segment, sales amounted to EUR 10.5m (H1 2025: EUR 15.7m). In the hydrogen project business, revenue is recognized upon reaching the contractual milestones and acceptance by the customer. Several hydrogen refueling stations were in commissioning as of the reporting date, and the work performed in the first half is therefore not yet reflected in sales – changes in inventories of EUR 9.3m, however, brought the segment’s total operating performance to EUR 19.8m. EBITDA improved to EUR 1.9m and the EBITDA margin of operating revenue to 9.5% (H1 2025: EUR -0.2m, -1.2%).
Balance Sheet and Cash Flow
As of 30 June 2026, Group equity amounted to EUR 23.9m (31 December 2025: EUR 22.9m), and the equity ratio improved to 19.8% (31 December 2025: 18.8%). Net debt stood at EUR 15.3m (31 December 2025: EUR 18.9m). Total assets amounted to EUR 120.9m (31 December 2025: EUR 122.1m). Cash flow from operating activities rose to EUR 7.0m (H1 2025: EUR 4.6m). Cash flow from investing activities was EUR -2.1m (H1 2025: EUR -2.7m), and cash flow from financing activities EUR -4.2m (H1 2025:
EUR -0.1m).
GreenLead 2030
In line with its GreenLead 2030 strategy, the Group is advancing three core innovation fields. In PFAS remediation, initial screenings at legacy sites were launched in the first half and sampling was expanded. In parallel, methods for removing PFAS and research partnerships are being evaluated. Together with academic partners, the Group is also investigating pollutant-accumulating and pollutant-degrading algae-bacteria cultures for the treatment of oil-contaminated water. A patent application has been filed for a new, fully remote-operated cleaning robot for large above-ground tanks, with a prototype expected to be ready for initial pilot projects by year-end. The process to obtain ATEX Zone 0 certification for the Group’s established cleaning robot is under way. Following the cooperation agreement with High Impact Technology concluded in May 2026, initial use cases and pilot projects in the defense and critical infrastructure sectors are being prepared in the United States. First financial contributions of these initiatives are expected from 2027 onward.
Outlook
The economic environment remains volatile for the remainder of the year. The conflict in the Middle East, fluctuating energy prices and continued strains on global supply chains are weighing on business sentiment across Europe. At the same time, the increasingly stringent regulatory environment in the core markets supports structural demand: the revised EU Drinking Water Directive introduced binding PFAS limits from January 2026, and the EU’s Alternative Fuels Infrastructure Regulation requires a hydrogen refueling station at least every 200 km along the TEN-T core road network by the end of 2030.
In Italy, project execution remains dependent on public budget cycles and tender activity. In the Hydrogen & Renewable Energies segment, project volume is expected to decline following the end of the PNRR funding phase, with privately and alternatively financed projects only partially compensating for this. In Germany, Wolftank Group has submitted several project applications under the NOW and BayFELI funding programs, with initial decisions expected in the second half of 2026.
Based on these developments, Wolftank Group confirms its full-year 2026 guidance of approximately EUR 135m in sales and an EBITDA margin of 6-7%. Over the medium term, the Group targets sales of EUR 250m and an EBITDA margin of 12% under GreenLead 2030.
“Demand for the build-out of hydrogen infrastructure in Europe is shifting toward heavy-duty trucks, buses and fleets. While such projects depend heavily on European and national funding programs and their deadlines, Wolftank Group is strongly positioned as a technology and infrastructure provider”, says Reckla. “For the second half of the year, we are preparing for rising energy prices and a more cautious investment approach among our industrial customers. We are addressing this through cost discipline and the selective prioritization of value-creating projects. Our focus remains on consolidation, profitability and organic growth”, concludes CEO Simon Reckla.
Key Financial Highlights
| 1-6/2026 | 1-6/2025 | |
| Sales (EUR m) | 67.4 | 60.8 |
| EBITDA (EUR m) | 5.9 | -2.6 |
| EBITDA margin (%) | 8.8% | -4.3% |
| EBIT (EUR m) | 3.5 | -5.1 |
| EBIT margin (%) | 5.2% | -8.4% |
| Profit before tax (EUR m) | 2.5 | -6.1 |
| Profit after tax (EUR m) | 1.3 | -5.9 |
| Cash flow from operating activities (EUR m) | 7.0 | 4.6 |
| Net debt (EUR m) | 15.3 | 18.9* |
| Equity ratio (%) | 19.8% | 18.8%* |
*As of 31 December 2025
Here you can find the corporate news as download:
The Half Year Report of Wolftank Group (in English) is available online: https://wolftankgroup.com/investor-relations/financial-reports/
About Wolftank Group
Wolftank Group is a leading provider of environmental technologies in the green-tech sector. Its core business includes due diligence services for environmental risks, customized solutions for soil and groundwater remediation, recycling and recovery processes, and low-emission technologies. The Group’s subsidiaries in seven countries across three continents are managed by Wolftank Group AG, headquartered in Innsbruck. Wolftank Group AG shares (WKN: A2PBHR; ISIN: AT0000A25NJ6) are listed in the direct market plus segment of the Vienna Stock Exchange and in the m:access segment of the Munich Stock Exchange, and are traded on Xetra as well as on the Frankfurt and Berlin stock exchanges. Further information: www.wolftankgroup.com
Contact:
Wolftank Group Investor Relations
phone: +43 512 345726
Email: investor-relations@wolftankgroup.com
Disclaimer:
This communication contains statements that relate to the future and are based on the current knowledge, expectations, and predictions of the management of Wolftank Group AG. All statements are subject to potentially uncertain assumptions and risks that may result in a significant deviation from the statements or results communicated directly or indirectly. Such statements can be identified by the use of words such as “expect”, “plan”, “anticipate”, “target”, “estimate”, “assume” or similar. Consequently, statements relating to the future are only valid at the time they were made. The company assumes no obligation to adjust or correct statements in this announcement in the future or to verify statements made in this press release in the future.