Pyrum Innovations AG publishes figures for the first nine months of 2024

Pyrum Innovations AG publishes figures for the first nine months of 2024

• Earnings performance and financial position continue to be characterized in particular by investments in new plants
• Sales of EUR 1,086 thousand significantly above previous year's level (9M 2023: EUR 842 thousand)
• Consolidated net result for the period of EUR -7,982 thousand (9M 2023: EUR -6,853 thousand)

Dillingen / Saar, 22 November 2024 - Pyrum Innovations AG (“Pyrum”, the “company”, ISIN: DE000A2G8ZX8) published its consolidated financial report for the period from 1 January to 30 September 2024 today. In the first nine months of the current financial year, the company's earnings and financial position continued to be characterised by investments at the company's headquarters in Dillingen/Saar and for orders of plant components with long delivery times for the new site in Perl-Besch, as well as investments in the expansion of the workforce and the further development of the organisational structure.

Sales in the reporting period increased by 29% year-on-year to EUR 1,086 thousand (9M 2023: EUR 842 thousand). Own work capitalised amounted to EUR 6,192 thousand (9M 2023: EUR 9,828 thousand) as the expansion and optimisation of the plant in Dillingen progressed according to plan. The decline corresponds to the lower cost of materials required to produce the capitalised own work as the degree of completion of the plant expansion increases. As expected, total output fell to EUR 7,653 thousand (9M 2023: EUR 10,722 thousand) due to lower capitalisable own work compared to the same period of the previous year. Other operating income almost doubled year on year to EUR 881 thousand (9M 2023: EUR 456 thousand) due to investment grants of EUR 531 thousand (9M 2023: EUR 160 thousand) for the creation of jobs in Dillingen. The consolidated net result for the period amounted to EUR -7,982 thousand (9M 2023: EUR -6,853 thousand). Available liquidity increased to EUR 6,284 thousand as of 30 September 2024 (31 December 2023: EUR 4,483 thousand) due to the payment of two further loan tranches from BASF for the construction of the plant in Perl-Besch.

Pascal Klein, CEO of Pyrum Innovations AG: “The figures for the first nine months primarily reflect our strategic investments, which lay the foundation for further growth. Particularly encouraging is the progress at our main plant in Dillingen, where we have successfully carried out capacity stress tests in one of our new reactors. This is impressive proof of the efficiency and stability of our plants. At the same time, we are consistently continuing our investments in the expansion of new locations with our partners and in Pyrum's own plant in Perl-Besch in order to further establish ourselves as an innovation leader.”

Pyrum Innovations AG confirms the adjusted forecast published with the half-year report on 27 September 2024. Accordingly, the company expects earnings before interest and taxes (EBIT) for the year 2024 to be in the range of EUR -10.0 million to EUR -12.0 million, with a total output of approximately EUR 10 million and sales between EUR 1.9 million and EUR 2.4 million.

The Group Interim Report for the period from 1 January to 30 September 2024 of Pyrum Innovations AG is available on the company's website at https://www.pyrum.net/en/investors/financial-publications/.

About Pyrum Innovations AG

Pyrum Innovations AG is active in the attractive recycling market for end-of-life tyres and various plastics with its patented thermolysis technology. Pyrum's thermolysis process is largely energy self-sufficient and, according to the Fraunhofer Institute, saves significantly more CO2 emissions than today's standard recycling processes for end-of-life tyres - especially compared to incineration in cement plants - and produces new raw materials such as thermolysis oil, gas and recovered carbon black from the waste used as input materials. In this way, Pyrum closes the recyclable material loop and pursues a completely sustainable business model. As a pioneer, Pyrum Innovations AG was the first company in the end-of-life tyre recycling sector to receive REACH registration from the European Chemicals Agency (ECHA) for the thermolysis oil it produces. This means that the oil is recognised as an official raw material that can be used in production processes. In addition, Pyrum has received ISCC PLUS certification for the thermolysis oil and the recovered carbon black. Both products are thus considered sustainable and renewable raw materials. In addition, Pyrum has received ISO 14001 certification for its environmental management system and ISO 9001 certification for its quality management system. These achievements have also been recognised by international experts in the tyre industry. For example, Pyrum won the Best Tyre Recycling Innovation category at the inaugural Recircle Awards and has been a finalist in the Grand Prix of German SMEs (Großer Preis des Mittelstandes) three times in a row.

https://www.pyrum.net/en/

Contact

IR.on AG
Frederic Hilke
Phone: +49 221 9140 970
E-mail: pyrum@ir-on.com 

Pyrum Innovations AG
Dieselstraße 8
66763 Dillingen / Saar 
E-mail: presse@pyrum.net