DGB Group N.V. ("DGB" or "the Group") (Euronext: DGB: NL0009169515), a leading carbon project developer and ecosystem restoration company, announces the publication of its 2024 semi-annual consolidated financial results. As DGB remains in its development phase, it reported a net loss for the first half of 2024. The value of its project pipeline surged by +27.8% year-on-year ("YoY"), and unrealised gains on carbon credit investments grew to €23.82 million, highlighting significant growth towards its revenue-generation phase expected later this year.
Key highlights from the semi-annual report include:
• Financial results: DGB ended the first half of 2024 with a gross loss of €0.08 million, compared to a gross profit of €0.21 million in the first half of 2023. The net result for the period was €(1.06) million, compared to €(0.84) million in 2023. The basic and diluted loss per share was €(0.09), compared to €(0.08) in 2023.
• Project performance: The Group reported €23.82 million in unrealised gains on carbon credit project investments, up from €19.22 million in 2023 (+20.5% YoY growth), demonstrating strong potential for future revenue.
• Project pipeline: DGB continued to advance the development of multiple large-scale verified carbon projects while launching new biodiversity and plastic credit pilots. The total project pipeline value reached €29.55 million, compared to €23.67 million in 2023 (+24.8% YoY growth). The Group's total asset value rose to €34.93 million, up from €29.17 million in 2023 (+19.7% YoY growth).
• Stakeholder engagement: DGB's close partnerships with approximately 11,000 smallholder farmers in Kenya, Cameroon, and Uganda have strengthened its supply chain in agroforestry projects. This engagement reinforces DGB's ability to deliver long-term value to both investors and communities.
• Revenue diversification: With the expansion into plastic and biodiversity credits, DGB is strategically positioning itself in emerging environmental markets. These sectors are projected to grow in the coming years, providing additional avenues for revenue beyond traditional verified carbon credits and aligning DGB's mission with broader sustainability goals.
• Important milestones: DGB is on track to issue its first carbon credits (verified carbon units) in 2024, a key milestone that will enable the company to begin generating revenue from its project investments. This revenue represents the culmination of significant groundwork in verified project development over the past years. A total of 25.5 million carbon credits are expected to be issued from four of DGB's most advanced projects, while an additional 12.7 million credits remain in the feasibility phase.
Selwyn Duijvestijn, CEO of DGB, stated: "Our expanding project portfolio and increasing asset value demonstrate the strong foundation we've built through years of focused effort. As we prepare to issue our first verified carbon credits later this year, DGB is entering a new phase where the true potential of our investments will begin to deliver tangible results. Our focus remains on driving continued growth and creating long-term value for our stakeholders."
The full semi-annual report is available for download on DGB's website at www.green.earth/invest/financial-reports.
Key highlights from the semi-annual report include:
• Financial results: DGB ended the first half of 2024 with a gross loss of €0.08 million, compared to a gross profit of €0.21 million in the first half of 2023. The net result for the period was €(1.06) million, compared to €(0.84) million in 2023. The basic and diluted loss per share was €(0.09), compared to €(0.08) in 2023.
• Project performance: The Group reported €23.82 million in unrealised gains on carbon credit project investments, up from €19.22 million in 2023 (+20.5% YoY growth), demonstrating strong potential for future revenue.
• Project pipeline: DGB continued to advance the development of multiple large-scale verified carbon projects while launching new biodiversity and plastic credit pilots. The total project pipeline value reached €29.55 million, compared to €23.67 million in 2023 (+24.8% YoY growth). The Group's total asset value rose to €34.93 million, up from €29.17 million in 2023 (+19.7% YoY growth).
• Stakeholder engagement: DGB's close partnerships with approximately 11,000 smallholder farmers in Kenya, Cameroon, and Uganda have strengthened its supply chain in agroforestry projects. This engagement reinforces DGB's ability to deliver long-term value to both investors and communities.
• Revenue diversification: With the expansion into plastic and biodiversity credits, DGB is strategically positioning itself in emerging environmental markets. These sectors are projected to grow in the coming years, providing additional avenues for revenue beyond traditional verified carbon credits and aligning DGB's mission with broader sustainability goals.
• Important milestones: DGB is on track to issue its first carbon credits (verified carbon units) in 2024, a key milestone that will enable the company to begin generating revenue from its project investments. This revenue represents the culmination of significant groundwork in verified project development over the past years. A total of 25.5 million carbon credits are expected to be issued from four of DGB's most advanced projects, while an additional 12.7 million credits remain in the feasibility phase.
Selwyn Duijvestijn, CEO of DGB, stated: "Our expanding project portfolio and increasing asset value demonstrate the strong foundation we've built through years of focused effort. As we prepare to issue our first verified carbon credits later this year, DGB is entering a new phase where the true potential of our investments will begin to deliver tangible results. Our focus remains on driving continued growth and creating long-term value for our stakeholders."
The full semi-annual report is available for download on DGB's website at www.green.earth/invest/financial-reports.
© 2024 GlobeNewswire (Europe)
