Pyrum Innovations AG (Pyrum) today published its consolidated interim report for the period from 1 January to 31 March 2024. Revenue in the first three months totalled € 336 thousand and was therefore around € 54 1TP3 thousand higher than in the same period of the previous year (3M 2023: € 218 thousand). Own work capitalised amounted to € 1,615 thousand (3M 2023: € 2,958 thousand) as construction of the plant expansion in Dillingen progressed according to plan. The decrease corresponds to the lower cost of materials required to produce own work capitalised as the degree of completion of the plant expansion increases. Due to the lower level of own work capitalised in the reporting period compared to the same period of the previous year, total operating performance fell by around € 1TP3k to € 2,177k (3M 2023: € 3,188k). At € 148 thousand, other operating income was around € 85 thousand higher than in the same period of the previous year (3M 2023: € 80 thousand). The consolidated net loss for the period totalled € ‑2,684 thousand (3M 2023: € ‑2,237 thousand). The available liquidity as at 31 March 2024 was € 7,065 thousand (31 December 2023: € 4,275 thousand).

At the end of May, the third reactor was started up at the main plant in Dillingen. The company is thus on the finishing straight of the site expansion. By transferring the knowledge gained from the commissioning of TAD 2 as well as minor optimisations, TAD 3 was put into operation smoothly. The third line is currently already producing at 400 kg/h, which corresponds to a throughput of approx. 55%. The throughput is to be successively increased to 75% over the next three months. TAD 2 continues to operate unchanged with a throughput of 75–80%. The first plant components of the jet mill for the material from TAD 2 and TAD 3 have already been delivered to Germany and are currently in storage. Due to the technical interaction with the pelletising plant, assembly is still planned for the end of 2024.

As part of the expansion of production at its main plant in Dillingen, Pyrum has extended the REACH registration for its thermolysis oil produced from end-of-life tyres. The extension of the registration entitles Pyrum to manufacture and import more than 1,000 tons of thermolysis oil per year. The company implemented the extension at an early stage in order to avoid a limitation in the context of the increasing production volumes due to TAD 2 & 3.

Pascal Klein, CEO of Pyrum Innovations AG: “We are very proud of the successful commissioning of the third reactor at our main plant in Dillingen. This development marks an important milestone on the home stretch of our site expansion and provides a positive tailwind for our ongoing projects. We look to the future with great confidence and look forward to further successful steps.”

For the full year 2024, the management continues to expect Group and AG sales of between EUR 3.0 million and EUR 4.0 million and total output in the range of EUR 25 million to EUR 30 million. In view of the high level of investment activity and the planned further expansion of the workforce in 2024, earnings before interest and taxes (EBIT) are expected to be in the range of EUR ‑11.0 million to EUR ‑13.0 million for the Group and EUR ‑10.0 million to EUR – 12.0 million for Pyrum Innovations AG.

The consolidated interim report for the period from 1 January to 31 March 2024 of Pyrum Innovations AG is available on the company’s website.