Pyrum Innovations AG Reports First Half of 2024 Financial Results

Pyrum Innovations AG has released its financial report for the first half of 2024. Sales reached EUR 708 thousand, up from EUR 501 thousand in H1 2023. The company faced a consolidated net loss of EUR -4,787 thousand, compared to EUR -4,408 thousand the previous year.

The firm saw significant investments at its Dillingen headquarters and in new site preparations at Perl-Besch. The rCB pellet plant's throughput remained below target, affecting overall performance. Despite these challenges, CEO Pascal Klein highlighted the successful start-up of new production lines TAD 2 and TAD 3.

The company benefited from investment grants and two additional BASF loan tranches. However, due to lower than expected throughput, annual sales projections have been adjusted to EUR 1.9-2.4 million, down from EUR 3.0-4.0 million.

Michael Kapf, a long-serving Executive Board member, will step down on 15 October 2024 for personal reasons but will stay with the company in an IT role. The Executive Board continues with Pascal Klein as CEO and Kai Winkelmann as CFO.