DGB Group N.V. (“DGB”, “the Group”, or “the Company”) (Euronext: DGB: NL000916951), a leading carbon project developer and ecosystem restoration company, published its unaudited annual report for the financial year 2023 (the “Annual Report”). DGB reports a +44.3% Year-On-Year (“YoY”) growth in payments received for carbon credits and a surge of €23.67 million in DGB’s project pipeline value, highlighting DGB's substantial progress in the rapidly evolving carbon marketplace and its unwavering commitment to nature conservation and biodiversity.
Key highlights from the Annual Report include:
- Financial performance: DGB experienced significant growth in forward carbon credit sales, improving by €0.5 million compared to the previous year. This signifies increased demand for verified carbon credits and carbon offset projects. In total, €1.6 million in payments were received for carbon credits (+44.3% YoY growth).
- Expanding project portfolio: In 2023, DGB effectively developed and managed multiple large-scale verified carbon projects and started new biodiversity and plastic project pilots. DGB now has seven advanced-stage projects under management and twelve more in feasibility stages, which are set up on the framework of leading verification standards. A €23.67 million increase in DGB’s project value led to a total DGB asset value of €29.1 million.
- Strategic partnerships: DGB established new partnerships with governments, businesses, and individuals, solidifying its standing as a reliable partner in the carbon market. The Company now cooperates with stakeholders in the Republic of Côte d'Ivoire, the Democratic Republic of the Congo, Etiopia, Cameroon, Uganda, and Kenya, broadening its project influence.
- Industry recognition and commitment to ESG: DGB earned recognition for its contributions to the carbon marketplace and nature conservation, further establishing itself as a purpose-driven, boots-on-the-ground organisation with a strong global workforce and tangible environmental impact. The Company continues to operate responsibly and generate long-term value for stakeholders, offering services ranging from initial outreach to advanced ESG strategy consultancy.
Reflecting on DGB's performance last year, the CEO, Selwyn Duijvestijn, remarked, "2023 marked another year of financial and operational growth for us. We witnessed our forward carbon credit sales surge to €1.6 million, a clear testament to the robust demand for verified carbon credits, even ahead of our first credit issuance. The expansion of our project portfolio resulted in a €23.67 million increase in project value, elevating DGB's total asset value to €29.1 million. We have been building a great pipeline with scheduled annual credit issuances for the next decade. Looking ahead, 2024 will be marked by the first issuance of carbon credits from our projects, a significant milestone that highlights the maturity of our development and the transformative impact of our projects. This moment has been four years in the making, and here we are at the breakthrough we've been aiming for; it will be a significant milestone for us.”
The full Annual Report is available for download on the DGB's website at www.green.earth/invest/financial-reports. Additionally, a conference call for investors and analysts is scheduled for 2 April at 15:00 CET to discuss the Annual Report and provide further insights into the Company's future strategies and projects. Registration for the call can be made online here.
Following the publication of the Annual Report, the Board of Directors will convene the Annual General Meeting of Shareholders (“AGM”) on 16 May 2024. Key agenda topics for the upcoming AGM include the adoption of the 2023 unaudited annual accounts, voting on discharging the Executive Board of their 2023 duties, authorising share repurchase and delegation to issue shares and manage pre-emptive rights, and presenting the outlook on the carbon credit market and DGB's strategy. The AGM’s full meeting notice, the agenda and its explanatory notes, and further AGM materials can be downloaded from DGB’s website at www.green.earth/invest/investor-relations.
Contact for press enquiries
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DGB GROUP NV
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Disclaimer
This press release does not contain an (invitation to make an) offer to buy or sell or otherwise acquire or subscribe to shares in DGB and is not an advice or recommendation to take or refrain from taking any action. This press release contains statements that could be construed as forward-looking statements, including about the financial position of DGB, the results it achieved and the business(es) it runs. Forward-looking statements are all statements that do not relate to historical facts. These statements are based on information currently available and forecasts and estimates made by DGB’s management. Although DGB believes that these statements are based on reasonable assumptions, it cannot guarantee that the ultimate results will not differ materially from those statements that could be construed as forward-looking statements. Factors that may lead to or contribute to differences in current expectations include, but are not limited to: developments in legislation, technology, tax, regulation, stock market price fluctuations, legal proceedings, regulatory investigations, competitive relationships and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statement or the actual results of DGB are discussed in the annual report. The forward-looking statements in this document speak only as of the date of this document. Subject to any legal obligation, DGB assumes no obligation or responsibility to update the forward-looking statements contained in this document, whether related to new information, future events or otherwise. The provision of DGB’s services and products is subject to its General Terms and Conditions.
