Pyrum Innovations AG publishes figures for the 2023 financial year

EQS-News: Pyrum Innovations AG / Key word(s): Annual Report/Annual Results
Pyrum Innovations AG publishes figures for the 2023 financial year

16.05.2024 / 09:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Pyrum Innovations AG publishes figures for the 2023 financial year

* Sales increase by 17% year-on-year to EUR 1.1 million

  * Total output decreases to EUR 12.9 million (2022: EUR 19.1 million) as
    construction of the plant expansion in Dillingen progresses according to
    plan

  * Sales expected to increase with the commissioning of the new grinding
    and pelleting plant at the end of 2024

Dillingen / Saar, 16 May 2024 - Pyrum Innovations AG ("Pyrum", the
"Company", ISIN: DE000A2G8ZX8) today presented its annual and consolidated
financial statements for the 2023 financial year. Accordingly, the Group
generated total output of EUR 12.8 million, which decreased by EUR 6.3
million compared to the same period of the previous year (2022: EUR 19.1
million) due to a decline in own work capitalised and lower than expected
rCB production volumes. Own work capitalised amounted to EUR 11.7 million
(2022: EUR 17.8 million) as construction of the plant expansion in Dillingen
progressed according to plan. At EUR 1.1 million, sales were slightly above
the previous year's level (2022: EUR 1.0 million). In particular, sales from
the rCB produced fell well short of expectations despite sales prices of
more than EUR 900 per tonne, as the throughput of the installed grinding and
pelleting plant is still limited to a maximum of 350 kg per hour. To
increase the production capacity of the rCB, a second grinding and pelleting
plant has been ordered. The first parts will be delivered in May.
Commissioning of the new plant is scheduled for the end of 2024. From this
point onwards, the company expects sales to increase, as the rCB can then be
produced and sold in significantly larger quantities. The consolidated net
loss for the year was EUR -9.5 million (2022: EUR -7.8 million).

Pascal Klein, CEO of Pyrum Innovations AG: "Another eventful year lies
behind us, in which we achieved many of our goals, partially realised
others, though some things proved impossible to achieve as planned. The
construction of our two new lines in Dillingen and the successful search for
a second site for Pyrum's own plant in Perl-Besch in Saarland are certainly
highlights. The warm commissioning of lines 2 and 3 in Dillingen is
currently underway and we have already produced the first thermolysis oil
from line 2 and delivered it to BASF. We have already ordered the three new
reactors for the plant in Perl-Besch and want to start the first earthworks
and foundation work this summer. We now have a total of eight projects in
various phases in the pipeline, which we want to get over the finishing line
in the next three years. This means that the current year will also be an
extremely exciting one for our company history and we are extremely
confident about the coming months and years."

The first rCB deliveries from Pyrum to Continental and Ralf Bohle GmbH
("Schwalbe" brand) also took place in the 2023 financial year. Continental
has been manufacturing all solid tyres at the Korbach plant with Pyrum's rCB
since mid-2023. As a result, Pyrum has also been approved as a supplier by
Pirelli and Hankook.

Pyrum Innovations AG is offering a webcast for investors, private
shareholders and press representatives on current business developments
today, Thursday, 16 May 2024, at 4:00 pm. Interested parties can register
for participation at https://bit.ly/42qb91e.

The annual and consolidated financial statements 2023 of Pyrum Innovations
AG are available on the company's website at
https://www.pyrum.net/en/investors/financial-publications/.

About Pyrum Innovations AG

Pyrum Innovations AG is active in the attractive recycling market for
end-of-life tyres and various plastics with its patented thermolysis
technology. Pyrum's thermolysis process is largely energy self-sufficient
and, according to the Fraunhofer Institute, saves significantly more CO2
emissions than today's standard recycling processes for end-of-life tyres -
especially compared to incineration in cement plants - and produces new raw
materials such as thermolysis oil, gas and recovered carbon black from the
waste used as input materials. In this way, Pyrum closes the recyclable
material loop and pursues a completely sustainable business model. As a
pioneer, Pyrum Innovations AG was the first company in the end-of-life tyre
recycling sector to receive REACH registration from the European Chemicals
Agency (ECHA) for the thermolysis oil it produces. This means that the oil
is recognised as an official raw material that can be used in production
processes. In addition, Pyrum has received ISCC PLUS certification for the
thermolysis oil and the recovered carbon black. Both products are thus
considered sustainable and renewable raw materials. In addition, Pyrum has
received ISO 14001 certification for its environmental management system and
ISO 9001 certification for its quality management system. These achievements
have also been recognised by international experts in the tyre industry. For
example, Pyrum won the Best Tyre Recycling Innovation category at the
inaugural Recircle Awards and has been a finalist in the Grand Prix of
German SMEs (Großer Preis des Mittelstandes) three times in a row.

www.pyrum.net

Contact

IR.on AG
Frederic Hilke
Phone: +49 221 9140 970
E-mail: pyrum@ir-on.com

Pyrum Innovations AG
Dieselstraße 8
66763 Dillingen / Saar
E-mail: presse@pyrum.net


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16.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        Pyrum Innovations AG
                   Dieselstraße 8
                   66763 Dillingen/Saar
                   Germany
   Phone:          +49 6831 959 480
   E-mail:         contact@pyrum.net
   Internet:       www.pyrum.net
   ISIN:           DE000A2G8ZX8
   WKN:            A2G8ZX
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf,
                   Frankfurt (Scale), Munich
   EQS News ID:    1904401

End of News EQS News Service
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1904401 16.05.2024 CET/CEST