Enviva, LLC
envivabiomass.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2023 10-K, filed Oct 3, 2024. Its latest SEC filing is a SCHEDULE 13G from Feb 5, 2025.
10-K for FY2023, filed Oct 3, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Produces and sells wood pellets to power and heat generators and industrial customers.
10-K for FY2023, filed Oct 3, 2024
How Did They Make Money?
Customers buy wood pellets under long-term or shorter-term contracts, including single-shipment deals. Most is billed one to two weeks after a vessel is fully loaded, with remaining balances typically billed one to two weeks after discharge.
10-K for FY2023, filed Oct 3, 2024
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10-K for FY2023, filed Oct 3, 2024
FY2023 revenue by product or service ↗
$1.2B
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10-K for FY2023, filed Oct 4, 2024
$1.2B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product sales
Sold outright
10-K for FY2023, filed Oct 3, 2024 |
103%
FY2020: 95%
|
Product sales, FY2023
$1.2B Sources
|
Sold outright |
|
Breakage revenue
|
3.7% |
Breakage revenue, FY2023
$44.1M Sources
|
|
|
Other revenue
|
0.8%
FY2020: 5.1%
|
Other revenue, FY2023
$9.7M Sources
|
|
|
Termination of all contracts with customer for the Q4 2022 Transactions
|
−5.7% |
Termination of all contracts with customer for the Q4 2022 Transactions, FY2023
−$67.2M Sources
|
|
|
Impairment of customer assets
|
−2.3% |
Impairment of customer assets, FY2023
−$26.5M Sources
|
Who Were Their Customers?
Industrial customers in Japan, the U.K., Denmark, the Netherlands, Belgium and Poland buy wood pellets under sales contracts.
10-K for FY2023, filed Oct 3, 2024
Did Revenues Turn Into Profits?
No. It lost $686M in FY2023.
10-K for FY2023, filed Oct 4, 2024
−$507.9MView ↗
10-K for FY2023, filed Oct 4, 2024
−$686MView ↗
10-K for FY2023, filed Oct 4, 2024
−$367.1MView ↗
How Were They Changing?
-
Oct 9, 2024
NYSE suspends trading and begins delisting process
Trading was suspended immediately; the company said it did not intend to appeal.
Sources
8-K, filed Oct 9, 2024
On October 4, 2024, the Company received a notice (the “NYSE Notice”) from NYSE Regulation that it had determined to commence proceedings…View ↗
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Oct 4, 2024
Amended reorganization plan proposes canceling existing shares
The proposal also calls for the company to emerge as a private company; the plan had not been approved by the Bankruptcy Court.
Sources
8-K, filed Oct 4, 2024
Although the Debtors intend to pursue the Restructuring in accordance with the terms set forth in the Amended Plan, there can be no…View ↗
Grew. Revenue grew 72% in 4 years, from $683.6M in FY2019 to $1.2B in FY2023, about 15% a year.
Contract terms
Earlier contracts were described as fixed-price deliveries, sometimes with price escalators and margin protections; the latest report says many long-term contracts have been renegotiated to improve profitability and address inflation and other cost pressures.
10-K for FY2020, filed Feb 25, 2021 10-K for FY2023, filed Oct 3, 2024Our strategy is to fully contract the wood pellet production from our plants under long-term, take-or-pay off-take contracts with a…View ↗
Our primary sales strategy is to fully contract the wood pellet production from our plants under long-term, take-or-pay off-take contracts…View ↗
Who Did They Compete With?
Competes with Drax Biomass, AS Graanul Invest, Fram Renewable Fuels, Phu Tai Bio-Energy, and Highland Pellets
10-K for FY2023, filed Oct 3, 2024Most of the world’s current wood pellet production plants are owned by small, private companies, with few companies owning or operating…View ↗
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