​​​​​​​Pyrum Innovations AG publishes figures for the financial year 2022

Pyrum Innovations AG publishes figures for the financial year 2022

• 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 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.

About Pyrum Innovations AG

Pyrum Innovations AG is active in the attractive recycling market for end-of-life tyres with its patented pyrolysis technology. Pyrum's pyrolysis process is 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 pyrolysis 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 pyrolysis 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 pyrolysis 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 nominated for the “Grand Prix Mittelstand” (“Großer Preis des Mittelstandes”) from the German state of Saarland.

https://www.pyrum.net/

Contact

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

Pyrum Innovations AG
Dieselstr. 8
66763 Dillingen / Saar 
Email: presse@pyrum.net