Accsys Technologies

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Gekko4ever
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Re: Accsys Technologies

Bericht door Gekko4ever »

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, Onespan, Biocartis, Pareteum, AMS, X-Fab







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Gekko4ever
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Re: Accsys Technologies

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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, Onespan, Biocartis, Pareteum, AMS, X-Fab

Gekko4ever
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Re: Accsys Technologies

Bericht door Gekko4ever »

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, Onespan, Biocartis, Pareteum, AMS, X-Fab

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Raccoon
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Re: Accsys Technologies

Bericht door Raccoon »

Volgt er hier nog iemand ?

stijn1983
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Re: Accsys Technologies

Bericht door stijn1983 »

ja, ik :-)
uitgestapt rond 0,85, mijn breakeven na jaren ingezeten te hebben. Reden : beetje buy & sell met de verworven cash.
Nu terug ingestapt aan 0,90 in de hoop dat we toch stijgen richting bekendmaking van de resultaten.
Vorig jaar was dat op 28/06/2019.
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Raccoon
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Accsys Technologies

Bericht door Raccoon »

Volgt er iemand dit aandeel ?
+15% deze morgen

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Beheerder
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Re: Accsys Technologies

Bericht door Beheerder »

Raccoon schreef:
23 jun 2020 09:50
Volgt er iemand dit aandeel ?
+15% deze morgen
Het nieuwe topic is samengevoegd met het reeds bestaande topic.
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Gekko4ever
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Re: Accsys Technologies

Bericht door Gekko4ever »

Enkele dagen geleden opnieuw ingestapt aan 0,98€. Poolhuis groot stuk in Accoya geplaatst. Ook de Tricoya platen zijn geweldig en gaan de groene mdf en andere materialen de markt uitduwen! Timmerman kende nog niet deze houtsoort maar is nu laaiend enthousiast!
goudhaantje liked last!
Arcelor Mittal, Payton Planar, Boskalis, Quest for Growth, Accsys, Onespan, Biocartis, Pareteum, AMS, X-Fab

Gekko4ever
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Re: Accsys Technologies

Bericht door Gekko4ever »

AGM Statement

September 18, 2020

Accsys, the fast-growing and eco-friendly company that combines chemistry and technology to create high performance, sustainable wood building products, announces the following trading update in advance of its Annual General Meeting, to be held at 10.30 a.m. (UK time) today.

Trading for 5 months to 31 August 2020
Sales levels have continued to recover strongly following the previously reported impact to sales volumes in April resulting from COVID-19 disrupting our distribution channels. In May we successfully carried out our annual maintenance stop for our Accoya® plant. This was accomplished slightly earlier than initially planned, to position the business to maximise uptime once pandemic lockdown measures eased.

Following this, all three Accoya® reactors have been on stream and sales orders have increased notably following the return to and reopening of business by our customers and end-users. As a result, Accoya® sales volumes of 20,952 cubic metres for the five months to 31 August 2020 represent only a 9% reduction compared to the same period last year despite a 35% year on year reduction in total volume sold experienced in April.

Unaudited group revenue for the period was €33.7m, a 6% reduction compared to the same period last year. In addition to the strong recovery in sales in recent months as lock-down measures have eased, the Group has benefited from full priced sales to the former Cerdia region following the termination of the Accoya® licence with Cerdia effective from 1 April 2020. Production levels in Arnhem have also now returned to their pre-COVID-19 levels.

We expect the recovery in sales levels to continue assuming no further significant disruption from COVID-19.

Tricoya® Hull plant construction progress
Following the initial disruption caused by COVID-19 through April and May, construction work for the Tricoya® plant in Hull has progressed with activity levels continuing to increase. New on-site working protocols take into account revised Health and Safety and social distancing requirements resulting in an associated reduction in productivity levels. However, overall activity levels are now at a higher level than at any previous time on the project, with monthly working hours now over three times those from a year ago.

The new Covid-19 working protocols are resulting in some inefficiencies in the build programme and we are working with our construction contractors to ensure that all possible measures are taken to meet the project schedule. We are working towards the completion of the construction of the plant in the first quarter of the new calendar year with commissioning to follow thereafter. However, the situation is being closely monitored and the impact on the project schedule remains dynamic and under review.

COVID-19 mitigating actions update
Following the resumption of full construction activities in Hull and improved Accoya® sales volumes, all UK employees who had previously been furloughed had returned to work by August and all salaries, including those of the senior management team and the Board, have returned to their pre-COVID-19 levels. Our application for compensation for payroll costs in the Netherlands under the NOW scheme applies only to the first quarter of the new financial year, given the subsequent increase in Accoya® revenue.

Our focus on cost control and working capital has been successful in the period and, as we have incurred less capital expenditure on the Hull plant than expected due to the delays with construction, this has enabled a reduction in net debt compared to 31 March 2020. Operating costs are therefore expected to show a relative increase in the second half of the financial year as we focus on our growth strategy.

Progress with Accoya® capacity increase
ARNHEM

Work is progressing with the expansion of the Accoya® plant in Arnhem by the addition of a fourth Accoya® reactor, which will increase the capacity to 80,000 cubic metres. The reactor vessel has been ordered and an engineering, procurement and construction management contract has been entered into with detailed engineering now being undertaken. The project is expected to be complete by March 2022 as previously reported.

JOINT VENTURE WITH EASTMAN CHEMICAL COMPANY

In August we were very pleased to announce the formation of Accoya USA LLC, a new joint venture with Eastman Chemical Company which intends to construct and operate an Accoya® wood production plant to serve the North American market, a key target region with, which we estimate to be, the largest market potential for Accoya®.

The new company has been formed and a technology licence entered into to enable front-end engineering and design for the proposed initial 40,000 cubic metres plant to be completed. A decision whether to proceed to the next stage of plant construction, and as to funding, is expected to be made following the initial engineering and design work, which is expected to be completed in the first quarter of the 2021 calendar year.

Governance and sustainability
We have continued to progress our full review of how we assess ESG issues and opportunities. Working with an expert consultancy, we have completed a materiality study with input from many stakeholders, including interviews, focus groups, and a survey of over 1,600 relevant individuals. We have identified the most important and relevant ESG topics to Accsys and are currently developing a more detailed strategy that will be presented in an ESG and Sustainability Report in due course.

As previously announced, Stephen Odell will assume the position as Chairman immediately following today’s AGM and Patrick Shanley will step down as Chairman and as a non-executive director following nearly 10 years’ service to the Company. Alexander Wessels appointment as a non-executive director will also become effective immediately following today’s AGM.

Stephen and Alexander will add to the Board’s international experience as we continue our ambitious growth strategy. Accsys will remain forever grateful for Patrick’s dedication and significant contribution to our success so far and the Board would like to put on record their heartfelt thanks.
Arcelor Mittal, Payton Planar, Boskalis, Quest for Growth, Accsys, Onespan, Biocartis, Pareteum, AMS, X-Fab


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