Pyrum Innovations (PYRUM) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached €1.3 million, up 79% year-over-year, driven by higher output from new production lines, plant expansions, and increased oil and consulting sales.

• Total output rose 48% to €6.7 million, supported by capitalized own work and new plant activity.

• The company is scaling up operations, with two new reactors running stably and the world's largest mill and pelletizer now operational, though at 50% capacity due to a transport bottleneck.

• Strategic partnerships and offtake agreements with BASF, Continental, and Schwalbe are in place, with Schwalbe increasing its equity stake.

• A €5.6 million capital increase in July 2025 supports further expansion and project rollouts.

Financial highlights

• H1 2025 revenues: €1.3 million (+79% YoY); total output: €6.7 million (+48% YoY).

• EBITDA improved to -€2.3 million (from -€3.1 million YoY); EBIT at -€3.9 million (from -€4.2 million YoY).

• Net loss narrowed to €-4.58 million from €-4.79 million YoY.

• Personnel expenses rose 12% to €3.5 million; operating expenses increased to €2.2 million due to new plant operations.

• Cash at June 30: €2.8 million, with a subsequent €5.6 million capital increase, totaling over €8 million available.

Outlook and guidance

• 2025 revenue guidance maintained at €4.5–6 million, despite lower-than-expected RCB sales; consulting revenues expected to offset.

• Total output guidance reduced to €10–15 million (from €20–25 million) due to project delays, with no impact on EBIT.

• EBIT forecast for 2025 remains at -€8.5 to -€10.5 million.

• Full capacity for new mill and pelletizer expected in H1 2026 after resolving transport bottleneck.

• Further capital increases and financing are planned to support growth and cover negative cash flows.