Pyrum Innovations AG Reports Q4 and Preliminary 2023 Financial Results

On March 28, 2024, Pyrum Innovations AG released its Q4 2023 performance update along with preliminary financial outcomes for the entire year. The company witnessed a 17% rise in sales, reaching EUR 1,147 thousand compared to the previous year's EUR 982 thousand. This growth comes amidst strategic enhancements in the company's agglomeration and tyre shredding plants aimed at boosting future sales.

Pascal Klein, CEO, highlighted the year's focus on investments and staff augmentation to fulfill the rollout plan. Notably, Pyrum initiated the conversion of pyrolysis gas into electricity for internal use and announced plans for new plant constructions. However, the overall total output experienced a 32% decline to EUR 12,934 thousand from EUR 19,069 thousand in 2022.

The financial year 2023 reflected a preliminary consolidated net loss of EUR -9,610 thousand, deepening from 2022's EUR -7,808 thousand. Factors contributing to this outcome include lowered material costs for capitalised work and a decrease in other operating income, partly from diminished research grants.

The full details of the Q4 2023 Trading Update are available on Pyrum Innovations AG's website, with the final figures and Annual Report 2023 scheduled for release on May 16, 2024.