Pyrum Innovations (PYRUM) Q3 2024 earnings summary

Executive summary

• Revenue increased 29% year-over-year to €1.09 million for the first nine months of 2024, while total output declined 29% to €7.65 million due to lower own work capitalized as plant construction progressed.

• Net loss widened to €8.0 million from €6.9 million year-over-year, driven by higher personnel expenses, increased interest costs, and lower capitalized own work.

• Major plant expansion in Dillingen and new Perl-Besch site advanced, with successful full-load test at TAD 3 and Continental product approval for rCB.

• October 2024 capital increase raised €10 million, with Schwalbe Holding acquiring a 4% stake.

Financial highlights

• Revenue: €1.09 million (up 29% year-over-year); total output: €7.65 million (down 29%).

• EBITDA: -€5.45 million; EBIT: -€7.13 million; Net result: -€7.98 million (vs. -€6.85 million prior year).

• Personnel expenses rose 27% to €4.82 million; interest expenses increased to €0.86 million.

• Cash at hand and bank: €6.28 million (up from €4.48 million at year-end 2023).

• Equity ratio fell to 24.9% from 43.9% at year-end 2023.

Outlook and guidance

• 2024 EBIT expected between -€10.0 million and -€12.0 million; revenue from product sales forecast at €1.7–2.0 million.

• Total output for 2024 projected at around €10 million.

• Realization of consulting contract sales depends on Czech project approval.

• Storage bottlenecks for unmilled carbon black resolved; additional rCB production to start in 2025.