EQS-News

Pyrum Innovations AG publishes figures for the 2023 financial year

EQS-News: Pyrum Innovations AG / Key word(s): Annual Report/Annual Results Pyrum Innovations AG publishes figures for the 2023 financial year 16.05.2024 / 09:00 CET/CEST The issuer is solely responsible for the content of this announcement. Pyrum Innovations AG publishes figures for the 2023 financial year

• Sales increase by 17% year-on-year to EUR 1.1 million
• Total output decreases to EUR 12.9 million (2022: EUR 19.1 million) as construction of the plant expansion in Dillingen progresses according to plan
• Sales expected to increase with the commissioning of the new grinding and pelleting plant at the end of 2024

Dillingen / Saar, 16 May 2024 - Pyrum Innovations AG (“Pyrum”, the “Company”, ISIN: DE000A2G8ZX8) today presented its annual and consolidated financial statements for the 2023 financial year. Accordingly, the Group generated total output of EUR 12.8 million, which decreased by EUR 6.3 million compared to the same period of the previous year (2022: EUR 19.1 million) due to a decline in own work capitalised and lower than expected rCB production volumes. Own work capitalised amounted to EUR 11.7 million (2022: EUR 17.8 million) as construction of the plant expansion in Dillingen progressed according to plan. At EUR 1.1 million, sales were slightly above the previous year's level (2022: EUR 1.0 million). In particular, sales from the rCB produced fell well short of expectations despite sales prices of more than EUR 900 per tonne, as the throughput of the installed grinding and pelleting plant is still limited to a maximum of 350 kg per hour. To increase the production capacity of the rCB, a second grinding and pelleting plant has been ordered. The first parts will be delivered in May. Commissioning of the new plant is scheduled for the end of 2024. From this point onwards, the company expects sales to increase, as the rCB can then be produced and sold in significantly larger quantities. The consolidated net loss for the year was EUR -9.5 million (2022: EUR -7.8 million).