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

22 Nov 2024 07:30 CET

Press release
of Pyrum Innovations AG

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

More information:
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632941_2024 11 21 ENG Pyrum consolidated interim report Q3 2024.pdf
632941_24 11 22 CN Pyrum interim report 9M 2024_EN.pdf