The Leading Journal for the Tyre Recycling Sector

The Leading Journal for the Tyre Recycling Sector

Pyrum Innovations Publishes Trading Update Q4 2022

Pyrum Innovations AG has published its preliminary figures for the period from 1 January to 31 December 2022.

Pyrum Innovations total output increased by 413% year-on-year in 2022 to EUR 18,997 thousand (2021: EUR 3,701 thousand). This development resulted primarily from the increase in own work capitalised in the amount of EUR 17,717 thousand (2021: EUR 2,807 thousand) as part of the plant expansion in Dillingen.

Compared to the previous year, revenue increased by 6.5% to EUR 982 thousand (2021: EUR 922 thousand). In anticipation of significantly higher sales prices after the commissioning of the new pelletising plant, Pyrum Innovations deliberately did not sell the coke produced but rather included a large part of it in its inventory. Since the first quarter of 2023, Pyrum Innovations also meets the basic standards required to supply the automotive industry. This means that regular deliveries of high-quality recovered carbon black (rCB) can begin. At the end of March, a long-term, serial supply contract was signed with the premium tyre manufacturer Continental for this purpose.

Other operating income increased by 7.1 % to EUR 1,185 thousand (2021: EUR 1,106 thousand). The reason for the increase was primarily income from the area of research and development. Here, research grants of EUR 993 thousand (2021: EUR 510 thousand) were realised, especially for the European project “BlackCycle” for the efficient recycling of ELT. The preliminary consolidated net result for 2022 was EUR -7,987 thousand (2021: EUR -8,351 thousand).

Pascal Klein, CEO of Pyrum Innovations AG said; “We have come a big step closer to our goal of establishing a sustainable circular economy for end-of-life tyres. With the commissioning of the two new production lines at our site in Dillingen, we expect to triple our capacities already this year. In parallel, we are currently working on the planning for several new plant construction projects to drive the rollout of our patented technology together with our partners and to create additional recycling capacities at further locations.”

The Trading Update Q4 2022 of Pyrum Innovations AG is available on the company’s website. The publication of the final figures and the Annual Report 2022 are scheduled for 19 May 2023.