EQS-News

Pyrum Innovations AG publishes results for the first nine months of 2022

EQS-News: Pyrum Innovations AG / Key word(s): Quarterly / Interim Statement/Quarter Results Pyrum Innovations AG publishes results for the first nine months of 2022 30.11.2022 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Pyrum Innovations publishes results for the first nine months of 2022

• Total output increased strongly by more than 600% to EUR 14,156 thousand (9M 2021: EUR 2,007 thousand)
• Revenue from the operation of the plants also increased by 5.3% to EUR 714 thousand (9M 2021: EUR 678 thousand)
• Consolidated net result for the period of EUR -5,675 thousand (9M 2021: EUR -6,829 thousand)

Dillingen / Saar, 30 November 2022 - Pyrum Innovations AG ("Pyrum"), a pioneer in the sustainable recycling of end-of-life tyres (ELT) based on its patented pyrolysis technology, today published its consolidated interim report for the period from 1 January to 30 September 2022. Total output increased sharply year-on-year in the first nine months of 2022 – by over 600% to EUR 14,156 thousand (9M 2021: EUR 2,007 thousand). This development resulted primarily from the increase in own work capitalised in the amount of EUR 13,171 thousand (9M 2021: EUR 1,319 thousand) as part of the ongoing plant expansion in Dillingen.

Compared to the first three quarters of the previous year, revenue increased by 5.3% to EUR 714 thousand (9M 2021: EUR 678 thousand). Pyrum deliberately included a large part of the coke produced in the inventory in anticipation of significantly higher sales prices after the commissioning of the new pelletising plant. The pelletising plant is part of the construction of two new production lines at the main plant in Dillingen, for whose future operation Pyrum has already received the official approval.

Other operating income also increased in the reporting period by 25.6% to EUR 1,074 thousand (9M 2021: EUR 855 thousand). The reason for the increase was primarily income from the area of research and development. Here, research grants of EUR 930 thousand (9M 2021: EUR 510 thousand) were realised, especially for the European project "BlackCycle" for the efficient recycling of used tyres. The consolidated result in the first nine months of 2022 was EUR -5,675 thousand (9M 2021: EUR -6,829 thousand).