Brief: Avantium H1 EBITDA Loss Widens To 11 Million Euros

Avantium NV

17/08/2022 06:06

Aug 17 (Reuters) - Avantium NV  AVTX.AS :
    * FIRST HALF 2022 RESULTS
    * TOTAL REVENUES INCREASED IN THE FIRST HALF OF 2022 BY 5%
TO €5.0
MILLION (HY 2021: €4.7 MILLION)
    * THE CASH POSITION WAS €72.1 MILLION ON 30 JUNE 2022 (31
DECEMBER
2021: €34.9 MILLION)
    * LOSS FOR THE FIRST HALF YEAR OF 2022 WAS €17.3 MILLION (HY
2021:
€10.9 MILLION)
    * H1 EBITDA LOSS EUR 11.0 MILLION VERSUS LOSS EUR 7.1
MILLION YEAR
AGO
    * THE EQUITY OFFERING IN APRIL 2022 HAS ALLOWED US TO INVEST
FURTHER IN DELIVERING RAPID PROGRESS ACROSS OUR BUSINESS
    * EXPECTS THAT CONSTRUCTION OF THE FLAGSHIP PLANT WILL BE
COMPLETED BY THE END OF 2023 AND THAT THE PLANT WILL BE FULLY
OPERATIONAL DURING 2024
    * ANTICIPATES THAT THE FLAGSHIP PLANT CAPEX WILL BE
MATERIALLY
HIGHER, DUE PREDOMINANTLY TO INFLATION AS WELL AS SCOPE CHANGES
    * AVANTIUM CATALYSIS WILL INCREASINGLY LOOK FOR
OPPORTUNITIES TO
GROW ITS BUSINESS IN THE FIELD OF RENEWABLE CHEMISTRIES
    * AS PART OF ITS COMMERCIALISATION STRATEGY, AVANTIUM IS
EXPLORING
LICENSING OPPORTUNITIES FOR THE FUTURE LARGE-SCALE PRODUCTION OF
FDCA AND PEF

Source text: https://bit.ly/3dFZjM0
Further company coverage:  AVTX.AS 

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