Brief: Avantium H1 Revenue Rises To EUR 7.3 Mln

Avantium NV

16/08/2023 06:23

Aug 16 (Reuters) - Avantium NV  AVTX.AS :
    * H1 EBITDA LOSS EUR 12.2 MILLION VERSUS LOSS EUR 11.0
MILLION
YEAR AGO
    * H1 2023 REVENUES INCREASED TO €7.3 MILLION (HY 2022: €5.0
MILLION)
    * OUTLOOK: FOR AVANTIUM RENEWABLE POLYMERS, COMMISSIONING OF
THE
FDCA FLAGSHIP PLANT IS EXPECTED TO COMMENCE IN  THE FIRST
QUARTER OF 2024, AND PRODUCTION TO START IN THE SECOND HALF OF
2024
    * AVANTIUM’S NET LOSS FOR THE HALF YEAR OF 2023 INCREASED TO
€20.4
MILLION (HY 2022: €17.3 MILLION) DUE TO  HIGHER COSTS
    * CAPITAL EXPENDITURE INCREASED TO €47.7 MILLION (HY 2022:
€10.2
MILLION) AS A RESULT OF PLANNED INVESTMENTS IN  THE FDCA
FLAGSHIP PLANT
    * OUTLOOK:  EXPECT TO COMPLETE THE  DRAWDOWN OF THE FINAL
€15
MILLION FROM THE DEBT FACILITY AGREEMENT FOR THE FDCA FLAGSHIP
PLANT IN Q3 2023
    * CASH POSITION (INCLUDING RESTRICTED CASH) WAS €56.6
MILLION AS
AT 30 JUNE 2023 (31 DECEMBER 2022: €64.9 MILLION)
    * OUTLOOK: IN THE SECOND HALF OF 2023, AVANTIUM RESEARCH AND
DEVELOPMENT SOLUTIONS AIMS TO DELIVER SIGNIFICANT TOP-LINE
GROWTH COMPARED TO  THE FIRST HALF OF 2023, BASED ON A STRONG
ORDER BOOK AND PROJECT PIPELINE
    * OUTLOOK: FOR AVANTIUM RENEWABLE POLYMERS, COMMISSIONING OF
THE
FDCA FLAGSHIP PLANT IS EXPECTED TO COMMENCE IN  THE FIRST
QUARTER OF 2024
    * WE REMAIN ON TRACK TO START COMMISSIONING ACTIVITIES OF
OUR FDCA
FLAGSHIP PLANT IN THE FIRST QUARTER OF 2024 - CEO

Further company coverage:  AVTX.AS 

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