Afyren: annual net loss in line with expectations – 03/22/2023 at 12:20 pm


(CercleFinance.com) – Afyren, a manufacturer of biobased products intended to replace petroleum-derived molecules, announced on Wednesday that it suffered a net loss last year in line with its expectations.

The ‘greentech’ indicates that it has suffered a net loss of 9.2 million euros in 2022, against -3.6 million euros, against the backdrop of the start-up of its first factory.

With the inauguration of the site, its current operating expenses rose to 8.8 million euros, against 5.2 million euros, mainly due to the increase in its personnel expenses.

Turnover – which comes mainly from patent licenses for the moment – increased by 14% to 3.5 million euros.

In its press release, Afyren indicates that it has succeeded in achieving the major milestones set out in the roadmap presented during its 2021 IPO, including the inauguration of its Afyren Neoxy plant.

For 2023, the company says it is aiming for the gradual launch of industrial production at the site during the year and anticipates three production plants by 2027.

This ramp-up should enable it to generate cumulative production revenue of more than €150 million for a current EBITDA margin of around 30%.

At this stage, its customers have confirmed commitments representing a cumulative turnover of more than 165 million euros.

Listed on the Paris Stock Exchange, the Afyren share changed little on Wednesday following this publication. Since its IPO in October 2001, the stock has lost 38% of its value.



Source link -86