Nasdaq CopenhagenIFRS · DKK

BioCirc Group Holding ApS

BioCirc Group Holding ApS is a Danish circular bioeconomy company focused on developing, owning, and operating industrial-scale biogas and biomethane assets. Its platform also includes renewable electricity generation, carbon capture and storage projects, and related project execution capabilities across Denmark and selected international development activities.

Liikevaihto1 753milj. DKK
+18,4 %v/v
Liikevoitto (EBIT)−30,0milj. DKK
+79,7 %v/v
EBIT-marginaali−1,7%
+8,3 %-yks.v/v
Nettotulos−95,5milj. DKK
+51,2 %v/v
Vapaa kassavirta−605milj. DKK
−48,0 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2023–2025

−50005001 0001 5002 000milj. DKK2023: 1 133 milj. DKK2023: EBIT 42 milj. DKK20232024: 1 481 milj. DKK2024: EBIT −148 milj. DKK20242025: 1 753 milj. DKK2025: EBIT −30 milj. DKK20251 753−30
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Biomethane and biogas operations70 %

Production and sale of biomethane from BioCirc's owned and operated biogas plants.

Green certificates and gas value streams15 %

Monetization of renewable gas output through certificates and related market instruments.

Renewable electricity8 %

Electricity generated from co-located renewable assets, including solar and biogas-linked power.

EPC and project execution7 %

Engineering, procurement, and construction work connected to internal and external biogas projects.

Asiakkaat

BioCirc sells into energy markets, with biomethane and certificates bought by utilities, industrial users, and market participants that need renewable gas attributes. The company also serves municipalities and local partners through integrated waste-to-energy and circular bioeconomy solutions, while some project execution work is tied to its own expansion pipeline and external plant customers.

Energy and utilities

Buy biomethane and related certificates to meet renewable fuel and decarbonization needs.

Industrial users

Purchase renewable gas and energy solutions to lower emissions in hard-to-abate operations.

Municipalities and local authorities

Use BioCirc's circular bioeconomy and energy cluster solutions for local infrastructure and waste handling.

Certificate market participants

Buy or trade biomethane certificates and related environmental attributes.

Project and EPC counterparties

Engage North-Tec for biogas plant construction, integration, and project execution work.

Strategia

BioCirc is focused on scaling integrated biogas platforms that combine renewable gas production, certificate monetization, power generation, and carbon capture. A central priority is to deepen control over the value chain, expand existing assets, and add projects that increase CO2 abatement and strengthen long-term earnings resilience.

Expand core biogas capacityKeskipitkä aikaväli

More operating capacity increases biomethane output, certificate generation, and CO2 abatement.

Scale carbon capture and storageKeskipitkä aikaväli

CCS adds a new decarbonization service and can create additional commercial value from captured CO2.

Internalize certificate managementLyhyt aikaväli

Managing certificates in-house reduces external trading fees and improves value capture.

Integrate energy assetsKeskipitkä aikaväli

Combining biogas and solar improves operational synergies and broadens the renewable platform.

Maantiede

BioCirc is headquartered in Copenhagen and operates a portfolio of biogas and renewable energy assets across Denmark. The company also has project exposure in Germany and had selected development activities in the United States, where it paused certain projects after reassessing development prospects. Geography matters because the business depends on local feedstock sourcing, permitting, power and gas market access, and country-specific policy frameworks.

Riskit

BioCirc's business depends on volatile gas and certificate markets, policy support, and the successful execution of capital-intensive projects. The company also faces operational and development risk from feedstock sourcing, plant performance, new tariffs, permitting, and delayed or paused projects in higher-uncertainty markets.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Commodity and certificate price volatility1Project execution and commissioning risk2Regulatory and tariff risk3Feedstock and operating performance risk4Development market uncertainty5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Commodity and certificate price volatilityVaikutus: KorkeaTodennäköisyys: Korkea

    Revenue depends on biomethane, gas, and green certificate pricing, which can fluctuate materially.

    Kohdistuu: Gas sales and certificate monetization

  2. Project execution and commissioning riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Large projects such as CCS and plant expansions require complex delivery, permitting, and integration.

    Kohdistuu: Vinkel Biogas expansion and CCS

  3. Regulatory and tariff riskVaikutus: KeskitasoTodennäköisyys: Korkea

    Distribution tariffs and policy frameworks directly affect operating economics in biogas markets.

    Kohdistuu: Denmark and wider energy regulation

  4. Feedstock and operating performance riskVaikutus: KeskitasoTodennäköisyys: Korkea

    Biogas output depends on reliable access to suitable biomass and stable plant performance.

    Kohdistuu: Biogas production network

  5. Development market uncertaintyVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Selected U.S. projects were paused due to increased political uncertainty, showing geographic development risk.

    Kohdistuu: United States development pipeline

Kirjanpito

Harkinnanvaraiset erät
Development asset write-downs

Selected projects were written down when materialisation looked limited, affecting asset values and profit.

Vaikutus: Can reduce carrying values and earnings

Revenue recognition for gas and certificates

Revenue depends on delivery, market pricing, and certificate monetization timing.

Vaikutus: Can create period-to-period volatility

Impairment of paused projects

U.S. development activities were paused, requiring ongoing assessment of recoverability.

Vaikutus: May trigger further non-cash charges

Capitalised project development and fixed assets

Expansion and solar projects involve capitalised spend that later depreciates over long lives.

Vaikutus: Affects balance sheet size and future depreciation

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.10.2026