Pyrum Innovations (PYRUM) Q1 2025 earnings summary

Executive summary

• Sales rose 51% year-over-year to EUR 509 thousand in Q1 2025, with total output up 55% to EUR 3,365 thousand, driven by plant expansion and higher own work capitalized.

• Net loss narrowed to EUR -877 thousand from EUR -2,684 thousand year-over-year, reflecting higher revenues and significant investment grants recognized as income.

• Major milestones included completion and commissioning of thermolysis reactors TAD 2 & 3, and progress on new plant projects in Perl-Besch and several European countries.

• Share price closed Q1 2025 at EUR 27.80, up from EUR 26.50 at the start of the year, with a high of EUR 32.00.

Financial highlights

• EBITDA improved to EUR -1,927 thousand from EUR -2,455 thousand year-over-year; adjusted EBITDA (excluding investment grants) was EUR -2,455 thousand.

• Other operating income surged to EUR 2,029 thousand (EUR 148 thousand prior year), mainly due to EUR 1,799 thousand in public investment grants.

• Cash in hand and bank balances declined to EUR 7,292 thousand from EUR 11,949 thousand at year-end 2024.

• Cash flow from operating activities improved to EUR -1,680 thousand from EUR -2,851 thousand year-over-year.

• Equity ratio remained stable at 33.8% (34.0% at year-end 2024).

Outlook and guidance

• 2025 sales forecasted between EUR 4.5 million and EUR 6.0 million, with total operating performance expected at EUR 20–25 million.

• EBIT for 2025 projected between EUR -8.5 million and EUR -10.5 million, reflecting high investment and workforce expansion.

• Further financing and capital increases planned to support growth and maintain balance sheet health.

• Focus remains on organic growth and joint ventures for plant construction and operation.