Accsys Technologies

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Gekko4ever
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Lid geworden op: 19 Mei 2013 10:31
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Re: Accsys Technologies

Berichtdoor Gekko4ever » 25 Jun 2019 23:14

Strong financial performance on all key metrics:

· Group revenues increased by 23% with strong demand for Accoya® and Tricoya®.
· Gross profit increased by 37% driven by higher volumes, improved Accoya® gross margin and licence income.
· €2.3m underlying EBITDA recorded in the second half of the year resulting in positive underlying EBITDA for the full year of €0.9m (2018: €3.5m loss).
· Significant capex investment of €48.2m during the year, reflecting capacity increases for both Accoya® and Tricoya®, and the purchase of the Arnhem land and buildings contributed to an expected increase in net debt to €50.1m.
· Cash-flow generated from operations continued to improve with a positive cash inflow for the year of €0.3m (2018: €3.8m outflow) whilst the effective interest rate for the year reduced to 7.3% from 9.3% in the prior year.
Arcelor Mittal, Payton Planar, Boskalis, Quest for Growth, Accsys, Melexis, PureCircle, Biocartis, Equinox Gold,



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Gekko4ever
Forum gebruiker
Forum gebruiker
Berichten: 246
Lid geworden op: 19 Mei 2013 10:31
waarderingen: 58
Contact:

Re: Accsys Technologies

Berichtdoor Gekko4ever » 25 Jun 2019 23:17

Further major capacity expansion:

Accoya® demand continues to exceed increased production:
· Accoya® sales volumes up 16% compared to last year; with a 33% increase in the second half (vs H1 2019) benefiting from the third Reactor coming on stream.
· Accoya® gross margin improved to 26% in the second half (H2 2018: 24%).
· Accoya® underlying EBITDA up 94%, to €9.0m for the year (2018: €4.6m).
· 30% gross margin from the manufacturing of Accoya® continues to be achievable.
· Completion of third reactor; operating at full capacity from Q4 FY19. Annualised capacity increased by 50% to 60,000 cubic metres.
· Plans progressing to add a fourth Accoya® reactor in Arnhem, to further increase capacity to 80,000 cubic metres.
· Discussions progressing with potential partner concerning possible Accoya® plant in USA given increasing demand.
· High levels of certification across the product range including Cradle to Cradle - Gold certification (Platinum certification for Material Health).

Tricoya®:
· Construction work on the Hull plant continues to progress:
o Hull plant expected to be operational in mid-2020 calendar year.
o The longer term profitability of the Tricoya® plant and market opportunity remains unchanged.
· Accoya® sales to MEDITE and FINSA increased by 49% to support seeding of key European markets ahead of Tricoya® production in Hull.
· Work progressing with PETRONAS Chemicals Group to evaluate the feasibility of building and operating an integrated acetic anhydride and Tricoya® wood chip production plant in Malaysia.
Arcelor Mittal, Payton Planar, Boskalis, Quest for Growth, Accsys, Melexis, PureCircle, Biocartis, Equinox Gold,

Gekko4ever
Forum gebruiker
Forum gebruiker
Berichten: 246
Lid geworden op: 19 Mei 2013 10:31
waarderingen: 58
Contact:

Re: Accsys Technologies

Berichtdoor Gekko4ever » 25 Jun 2019 23:20

Paul Clegg, Chief Executive commented:
"We are delighted to report continued increasing demand for our sustainable alternatives to tropical hardwoods, man-made plastics and fossil based building materials. The strong demand for both Accoya® and Tricoya® continues to be driven by both product quality and their sustainable credentials, reflecting the increasing importance for all building and construction activities to become more environmentally responsible.
The Accoya® capacity expansion at Arnhem has been a major boost to our financial performance enabling us to report positive EBITDA results for the financial year with EBITDA of €2.3m in the second half. This transformative expansion is starting to make a real difference to both margins and sales volumes.

Plans for a fourth Accoya® reactor are well underway to complete the doubling of capacity at our Arnhem site. Construction issues at the new Tricoya® plant in Hull have been resolved and strong sales of Accoya® to our partners MEDITE and FINSA underline the long term potential for the Hull project.

Our ambitions to extend the global footprint and reach of Accsys as a sustainably profitable business progress on several fronts. We are delighted to be working with PETRONAS Chemicals Group in Malaysia, and are encouraged by the discussions with a potential partner in the USA.

The new financial year has started well. We are excited about the many significant and transformational developments to the business and look forward to the future with confidence."

There will be a presentation relating to these results at 09:30 BST on Tuesday 25 June 2019. The presentation will take the form of a web based conference call, details of which are below:

Webcast link:
Click here or copy and paste ALL of the following
text into your browser:
https://edge.media-server.com/m6/p/cuo38ohj
Arcelor Mittal, Payton Planar, Boskalis, Quest for Growth, Accsys, Melexis, PureCircle, Biocartis, Equinox Gold,



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