ReFuels Q1 2027: CNG Fuels more than triples EBITDA as Bio-CNG adoption broadens across UK fleets

Highlights:
* CNG Fuels Q1 2027 EBITDA of GBP 4.9 million, up more than 3x from the same period last year
* FY 2027 adjusted EBITDA guidance of GBP 16–20 million reiterated, supported by increased station profitability and RTFC (Renewable Transport Fuel Certificate) margins
* Dispensed Bio-CNG volumes grew 8% year-on-year, while the number of vehicles increased 11% to more than 2,250
* More than 900 trucks expected over the next 12–18 months, supporting CNG Fuels' expectation of more than 8,000 HGVs on UK roads by 2030
* Record-high construction activity with Magor set to open in October as the 17th station and Swindon and Carlisle sites under construction
* The new stations are expected to increase network refuelling capacity to more than 14,000 HGVs per day

Philip Fjeld, CEO and co-founder of ReFuels, said:

"CNG Fuels more than tripled adjusted EBITDA, driven by a second consecutive quarter of positive station network contribution and strong certificate margins. Bio-CNG offers greater energy resilience, lower fuel costs and emissions than diesel and HVO. We expect more than 900 new CNG trucks on the roads over the next 12–18 months, and our largest customers provide visibility to 8,000 CNG HGVs by end-2030. We are expanding our refuelling network to meet this growth and have a record three new high-capacity stations simultaneously under construction. Together with attractive RTFC margins already largely locked in, this supports our FY 2027 adjusted EBITDA guidance of GBP 16–20 million."

The first quarter 2027 interim report and presentation are attached and available at: https://refuels.com/investor-relations/

ReFuels will present the first quarter 2027 results today at 10:00 CEST. The webcast will be hosted by CEO Philip Fjeld and CFO Baden Gowrie-Smith. Please join the presentation via the following link: https://teams.microsoft.com/meet/322474520819892?p=eZ9RXejrl6NAGNlGw

For further information, please contact:
Philip Fjeld, CEO, ReFuels N.V.
Tel: +44 7976 159 833
Email: Philip.Fjeld@refuels.com

Baden Gowrie-Smith, MD & CFO, ReFuels N.V.
Tel: +44 7768 007 009
Email: baden.gowrie-smith@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, the target is to reach capacity to serve 20,000 heavy goods vehicles per day, with the long-term ambition to become Europe's leading integrated supplier of alternative fuels for commercial fleets. For further information, please visit www.refuels.com.