The Leading Journal for the Tyre Recycling Sector

The Leading Journal for the Tyre Recycling Sector

Pyrum Innovations AG Publishes Financial Figures for Q4

Pyrum Innovations’ sales of EUR 1,147 thousand 17 per cent above previous year’s level

Pyrum Innovations AG has published its trading update for Q4 2023 and preliminary figures for the full year 2023. Sales increased by 17 per cent year-on-year to EUR 1,147 thousand (2022: EUR 982 thousand). The company is currently focusing on improving the throughput of the agglomeration plant for further processing the recovered carbon black (rCB) and the new tyre shredding plant. The aim is to achieve greater sales increases in the future.

Pascal Klein, CEO of Pyrum Innovations AG said; “The fourth quarter and the year as a whole were mainly characterised by investments at our headquarters in Dillingen/Saar and the further increase in personnel to implement our roll-out plan. We are progressing as planned. As part of the fourth run, which is currently underway, we have started to convert the pyrolysis gas into electricity to power our own plant. We expect to start construction of our second plant in Perl-Besch in the second half of this year, and we are also making good progress with our partners in planning further plants in Europe.”

Pyrum’s own work capitalised amounted to EUR 11,757 thousand (2002: EUR 17,810 thousand) as the construction of the plant expansion in Dillingen progressed according to plan. The decrease corresponds to the lower material costs required for the production of our own work capitalised as the degree of completion of the plant expansion increases. As a result, total output decreased by 32 per cent year-on-year to EUR 12,934 thousand (2022: EUR 19,069 thousand).

In the financial year 2023, the company generated other operating income of EUR 585 thousand (2022: EUR 1,318 thousand), mainly resulting from investment grants of EUR 150 thousand and research grants of EUR 123 thousand. In the same period of the previous year, other operating income was dominated by research grants for the BlackCycle project. The preliminary consolidated net result for the year was EUR -9,610 thousand (2002: EUR -7,808 thousand).