Pyrum Innovations AG released its 2022 financial results
Pyrum Innovations AG (Pyrum), a pioneering company that recycles used tires sustainably with its globally patented unique pyrolysis technology, recently published its annual and consolidated financial statements for the 2022 financial year.
According to Pyrum’s press release, the group achieved total output of EUR 19.1 million. This represents a significant increase compared to the same period in the previous year (2021: EUR 3.7 million). The main reason for this was the sharp increase in own work capitalized in the amount of EUR 17.8 million (2021: EUR 2.8 million) as part 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).
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), in particular 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, said: "Despite all the crises, we at Pyrum made enormously important progress in the past financial year. Even though we repeatedly had to struggle with supply chain problems and sharply increased prices, the expansion of our main plant by two more lines progressed steadily and is now in the final phase. In addition, we have been able to conclude strategic partnerships for the further roll-out of our unique pyrolysis technology. We are in a promising position to continue to grow in the future. We are currently planning our next facility in Homburg, where we have already been able to secure a suitable plot of land and are currently preparing the approval documents.
In fiscal year 2022, Pyrum was also able to meet all the requirements to be able to supply the automotive industry with its recovered carbon black (rCB). The basis for this was the achievement of various quality standards and certifications, including ISO 9001, ISO 14001, ISSC Plus, the EcoVadis sustainability rating and VDA 6.3. In addition to the expansion and construction of further plants, the company has thus laid the foundation for continued successful business development.
The annual and consolidated financial statements 2022 of Pyrum Innovations AG are available on the company's website under financial publications.
Press release by Pyrum.