Brief: Avantium FY EBITDA Loss Widens To 16.3 Million Euros

Avantium NV

25/03/2020 06:24

March 25 (Reuters) - AVANTIUM NV  AVTX.AS :
    * AVANTIUM ANNOUNCES 2019 RESULTS: ADVANCES ITS LEAD
TECHNOLOGIES
TOWARDS COMMERCIALISATION
    * TOTAL EBITDA DECREASED FROM €-9.5 MILLION IN 2018 TO
€-16.3
MILLION IN 2019
    * AVANTIUM RENEWABLE POLYMERS MADE GOOD PROGRESS WITH
IMPLEMENTATION OF ITS REVISED COMMERCIALISATION STRATEGY,
INCLUDING PREPARATIONS FOR PLANNED CONSTRUCTION OF A 5
KILOTONNES FDCA FLAGSHIP PLANT, CURRENTLY PLANNED TO START-UP IN
2023
    * CASH AT 31 DECEMBER 2019 WAS €45.4 MILLION (31 DECEMBER
2018:
€83.3 MILLION)
    * FY REPORTED NET LOSS FOR 2019 AMOUNTED TO €23.5 MILLION
(FY
2018: €68.4 MILLION)
    * FY CONSOLIDATED REVENUES FROM OPERATIONS INCREASED BY 22%
TO EUR
13.8 MILLION VERSUS EUR 11.3 MILLION YEAR AGO
    * ON CORONAVIRUS: WE HAVE NOT EXPERIENCED MATERIAL NEGATIVE
CHANGES TO OUR BUSINESS PROSPECTS BUT IT IS STILL TOO EARLY TO
PREDICT HOW THE NEXT WEEKS AND MONTHS WILL UNFOLD
    * 2020 OUTLOOK: IN AVANTIUM RENEWABLE POLYMERS, WE WILL
FOCUS ON
ATTRACTING THE FUNDING FOR THE FDCA FLAGSHIP PLANT, WHICH WE
WOULD LIKE TO HAVE IN PLACE BEFORE THE END OF 2020

Source text for Eikon:  ID:nNDL6SFHJq 
Further company coverage:  AVTX.AS 

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