- Total output rises significantly to EUR 19.1 million in the course of the expansion of the company’s main plant
- Sales slightly above previous year’s level at EUR 1.0 million
- Partnerships and high-quality standards as a basis for further growth
Dillingen /Saar, 19 May 2023 – Pyrum Innovations AG (“Pyrum”, the “company”, ISIN: DE000A2G8ZX8), a pioneer in the sustainable recycling of end-of-life tyres (ELT) based on its patented pyrolysis technology, today presented its annual and consolidated financial statements for the 2022 financial year. According to these, the group achieved a total output of EUR 19.1 million. This represents a significant increase compared to the same period of the previous year (2021: EUR 3.7 million). The main reason for this was the strong increase in own work capitalised amounting to EUR 17.8 million (2021: EUR 2.8 million) in the course of the expansion of the main plant in Dilligen/Saar. At EUR 1.0 million, sales were slightly above the previous year’s level (2021: EUR 0.9 million). In anticipation of significantly higher sales prices after the commissioning of the pelletising plant, the coke produced was deliberately not sold, but instead largely included in the inventory.
Other operating income increased by 19% to EUR 1.3 million and resulted mainly from research and development income, including grants of EUR 0.9 million (2021: EUR 0.5 million), especially for the BlackCycle project. The consolidated net loss for the year was EUR ‑7.8 million (2021: EUR ‑8.4 million).
Pascal Klein, CEO of Pyrum Innovations AG: “Despite all the crises, we have made enormously important progress at Pyrum in the past financial year. Even though we repeatedly had to deal with supply chain problems and the sharp rise in prices, the expansion of our main plant by two more lines progressed steadily and is now in the final phase. In addition, we were able to conclude strategic partnerships for the further roll-out of our unique pyrolysis technology. We are in a promising position to grow further in the future. At the moment, we are already planning our next own plant in Homburg, where we have already been able to secure a suitable plot of land and are currently preparing the approval documents. We are also looking for a new site to build another Pyrum-owned plant.”
In the 2022 financial year, Pyrum was also able to meet all requirements to be allowed to supply the automotive industry with its industrial carbon black (rCB). The basis for this was the achievement of various quality standards and certifications, including ISO 9001, ISO 14001, ISSC+, the EcoVadis sustainability rating and VDA 6.3. In addition to the expansion and development of further plants, the company has thus laid the foundation for continued successful business performance.
Pyrum Innovations AG is offering a a webcast for investors, private shareholders and members of the press on the current business development today, Friday, 19 May 2023, at 10:00 am (CEST). Interested parties can register to participate at https://bit.ly/42qb91e.
The 2022 annual and consolidated financial statements of Pyrum Innovations AG are available on the English website in the Investors section under Financial Publications. Financial publications available.