Business
Interim Results for six months ending 30 Sept 2018
Interim Results for six months ending 30 Sept 2018.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 8329H Accsys Technologies PLC 20 November 2018 \n\n \nAIM: AXS\nEuronext Amsterdam: AXS\n20 November 2018 \n \nACCSYS TECHNOLOGIES PLC\n(\"Accsys\" or \"the Company\")\n \nINTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018\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 2018.\n \n \n\n\n\n\n \n\n\n6 months ended 30 Sept 2018\n\n\n6 months ended 30 Sept 2017\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€31.6m\n\n\n€31.6m\n\n\n€28.3m\n\n\n€28.3m\n\n\n\n\nAccoya® EBITDA\n\n\n€2.8m\n\n\n€2.8m\n\n\n€1.2m\n\n\n€0.9m\n\n\n\n\nEBITDA\n\n\n€(1.4m)\n\n\n€(1.4m)\n\n\n€(2.8m)\n\n\n€(4.9m)\n\n\n\n\nLoss before taxation\n\n\n€(4.5m)\n\n\n€(5.4m)\n\n\n€(5.2m)\n\n\n€(6.8m)\n\n\n\n\nPeriod end cash balance\n\n\n \n\n\n€22.0m\n\n\n \n\n\n€46.9m\n\n\n\n\nNet Debt\n\n\n \n\n\n€(34.2m)\n\n\n \n\n\n€23.1m\n\n\n\n\n \n \n*Excludes exceptional costs and other adjustments. See note 4 for details and note 2 for reconciliation of EBITDA and Accoya® EBITDA.\n \nFinancial highlights\n· Revenue increased by 12% driven by higher volumes, pricing and licence income;\n· 8% increase in Accoya® sales volume significantly restricted by continued capacity constraints - third Accoya® reactor now operational;\n· Underlying EBITDA progression reflects increase in sales and production volumes together with price increases; \n· Net debt of €34.2m at 30 September 2018 (31 March 2018: €3.8m) reflects significant investment in Tricoya® plant construction, completion of third Accoya® reactor and purchase of Arnhem land and buildings; and\n· Operating activities generated positive cash-flow during the period.\nOperational highlights\n· ...