28 August 2026: ReFuels N.V. (ticker: REFL) ("ReFuels"), one of Europe's leading suppliers of renewable biomethane (Bio-CNG) for the decarbonisation of heavy goods vehicles, today published its audited annual report and financial statements for the financial year ended 31 March 2026.
During the financial year, ReFuels completed the strategic transaction with Foresight Group, creating a fully integrated CNG Fuels platform combining ownership and operation of the UK's largest clean fuel refuelling network with biomethane sourcing and Renewable Transport Fuel Certificate (RTFC) generation. Following completion of the transaction, ReFuels retains a 40% interest in CNG Fuels, which is accounted for as an associate. ReFuels also has a return mechanism which may increase the share of distributions from CNG Fuels up to 55% based on the valuation of the company in certain future value realisation scenarios.
As part of the year-end audit and associated valuation work, ReFuels recognised a non-cash accounting loss related to the transaction with Foresight Group of GBP 34.1 million in the consolidated Group accounts and GBP 71.6 million in the ReFuels N.V. parent company accounts. The loss primarily reflects fair value remeasurement and the accounting treatment following the loss of control of the former subsidiaries. Following the accounting loss, the net loss for the consolidated Group was GBP 37.7 million, compared to a net profit of GBP 48.5 million reported in the preliminary full-year figures on 29 May 2026.
The underlying CNG Fuels business continued to grow during the year. Bio-CNG volumes dispensed increased 15% to 65,351 tonnes, while CNG Fuels' EBITDA including non-cash share-based payments of GBP 0.55 million, increased to GBP 13.7 million from GBP 6.7 million in the prior year. At 31 March 2026, the network comprised 16 public access stations and 11 Mobile Refuelling Stations, serving more than 2,200 heavy goods vehicles.
The annual report and audited financial statements are attached to this release and are available at ReFuels' website, www.refuels.com.
The financial statements will be submitted for approval by the shareholders of ReFuels at the Annual General Meeting scheduled to take place on 17 September 2026.
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For further information, please contact:
Baden Gowrie-Smith, MD & CFO, Refuels N.V.
Tel.:+44 7768 007 009
E-mail: baden@refuels.com
About ReFuels
ReFuels is decarbonising Europe's truck fleet through its 40% ownership of CNG Fuels - a fully integrated clean fuel infrastructure platform combining sourcing of renewable biomethane (Bio-CNG), Renewable Transport Fuel Certificates (RTFCs), and ownership and operation of the UK's largest clean fuel station network. By the end of 2028, ReFuels aims to have the capacity to serve 20,000 heavy goods vehicles per day, with the long-term ambition of becoming Europe's leading integrated supplier of alternative fuels for commercial fleets. For further information, please visit refuels.com.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act