VERTIKAL Group Plc., listed on the Budapest Stock Exchange, has published the proposals for its annual general meeting, including its annual report.
VERTIKAL, which operates on the BSE Xtend market and engages in environmental management, logistics, and plastics industry activities aligned with the circular economy model, closed an outstanding 2024. Compared to 2023, net sales revenue increased by 67.37%, reaching nearly HUF 21 billion, while EBITDA rose by 22.57%, amounting to almost HUF 2.8 billion. In addition to approving the financial statements, the general meeting may also decide on the admission of ordinary shares to the regulated Standard market of the Budapest Stock Exchange.
The results disclosed as part of the proposals published for the annual general meeting convened for April 25 confirm that 2024 was one of the most defining years in the company’s history. According to the financial statements prepared under the Hungarian Accounting Act, net sales revenue increased by 67.37%, from HUF 12.5 billion in 2023 to nearly HUF 21 billion. EBITDA (earnings before interest, taxes, depreciation, and amortization) approached HUF 2.8 billion. According to the board’s proposal, the company intends to place the after-tax profit into retained earnings to finance further growth. The company has also grown significantly as an employer, with an average of 496 employees in 2024.
A key player in the Hungarian plastics and waste management sectors
VERTIKAL performs complex tasks in numerous regions and municipalities in cooperation with MOHU MOL Waste Management Ltd., the concession holder of the Hungarian waste management system, and the region coordinators designated by it. As one of the largest service providers in the concession system, it covers almost the entire range of waste management activities, including public and institutional services, support for regional coordination, waste treatment, and disposal.
In addition, the company manufactures semi-finished and finished plastic products at its plant in Dombóvár. The facility underwent an investment of approximately HUF 2.5 billion, completed in the summer of 2024. The modernization of production technology and the reduction of specific energy consumption per unit of product significantly reduce the environmental impact. This plant plays a major role in enabling VERTIKAL to be among the first in the domestic waste management market to implement the circular economy concept.
Over the past five years, VERTIKAL has also won several grants. The most recent project, launched in the summer of 2024, aims to develop special wheels that can be mass-produced using recycled materials, along with the related production technology.
Expanding capital market presence
Last year was also a successful one for the company in terms of public operation. Two years ago, VERTIKAL Group listed its shares on the Budapest Stock Exchange’s SME platform, BSE Xtend, and trading began in November 2023. Since then, the investor base has significantly expanded. The company’s further goal is to appear on the Standard market, a requirement it plans to meet during this year.
As part of the general meeting proposals, the Board of Directors of VERTIKAL Group Plc. has also proposed to renew authorizations for share buybacks and capital increases. The annual general meeting, which will decide on several strategic matters, may also approve the launch of an Employee Share Ownership Program (ESOP) to strengthen employees' stake in the company's success.
