Business
Interim Results for period ending 30 September 17
Interim Results for period ending 30 September 17.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 1657X Accsys Technologies PLC 22 November 2017 \n\n \nAIM: AXS\nEuronext Amsterdam: AXS\n \n22 November 2017 \n \nACCSYS TECHNOLOGIES PLC (\"Accsys\" or \"the Company\")\n \nINTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2017\n \nAccsys, the chemical technology group, focused on the acetylation of wood, today announces interim results for the consolidated group for the six months ended 30 September 2017.\n \n \n\n\n\n\n \n\n\n6 months ended 30 Sept 2017\n\n\n6 months ended 30 Sept 2016\n\n\n\n\n \n\n\nUnderlying*\n\n\nStatutory\n\n\nUnderlying*\n\n\nStatutory\n\n\n\n\nTotal Revenue\n\n\n€28.3m\n\n\n€28.3m\n\n\n€25.1m\n\n\n€25.1m\n\n\n\n\nEBITDA\n\n\n€(2.8m)\n\n\n€(4.9m)\n\n\n€(1.6m)\n\n\n€(1.3m)\n\n\n\n\nLoss before taxation\n\n\n€(5.2m)\n\n\n€(6.8m)\n\n\n€(3.2m)\n\n\n€(2.9m)\n\n\n\n\nPeriod end cash balance\n\n\n \n\n\n€46.9m\n\n\n \n\n\n€7.9m\n\n\n\n\nNet Debt\n\n\n \n\n\n€23.1m\n\n\n \n\n\n€5.7m\n\n\n\n\n \n \n*Excludes exceptional costs and other adjustments. See note 4 for details and note 2 for reconciliation\n \nFinancial highlights\n· Accoya revenue growth of 16% reflects continued growth in demand worldwide;\n· Sales volumes up 13% with Accoya plant running at full capacity;\n· Lower underlying EBITDA reflects one-off matters, during significant expansion of manufacturing capacity;\n· Net cash balance of €23.1m at 30 September 2017 reflects funds raised from shareholders and industry partners to fund expansion of manufacturing of both Accoya and Tricoya.\nOperational highlights\n· Expansion of Arnhem Accoya plant progressing; 50% (20,000 cubic metres) of additional capacity operational from early in next financial year as expected;\n· With Arnhem plant currently operating at full capacity, we are working with customers to...