Business
Trading update
Trading update.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 8302D Accsys Technologies PLC 02 May 2013 \n \n\n \n \nAIM: AXS\nNYSE Euronext Amsterdam: AXS\n2 May 2013\n \nACCSYS TECHNOLOGIES PLC\n(\"Accsys\" or the \"Company\")\n \nTrading update \n \nAccsys today issues a trading update for the year to 31 March 2013 (based on unaudited figures). Key highlights include:\n \n· Total revenue increased by 25% to €18.8m for the year ended 31 March 2013 (2012: €15.0m);\n· Revenue from sales to Accoya® customers increased by 45% for the year ended 31 March 2013 to €16.4m (2012: €11.3m); \n· Positive gross margin achieved at the group level for the year ended 31 March 2013;\n· Continue to expect our Arnhem manufacturing plant to reach at least 50% capacity utilisation and hence be EBITDA positive in the current financial year;\n· Continuing progress with Solvay-Rhodia towards a fully effective licence agreement which we expect to become unconditional later in 2013;\n· New Accoya® decking product retail trial launched by Solvay-Rhodia in over 40 outlets in Europe;\n· Total of 42 Accoya® distributor and agency agreements now in place (an increase of three since February) covering most of Europe, Australia, Canada, Chile, China, India, Mexico, Morocco, New Zealand, parts of South-East Asia and the USA; \n· Tricoya Technologies Limited ('TTL'), the joint venture with Ineos, continues to make progress, developing both new and existing Tricoya® licence opportunities including the signing of a Heads of Terms in December 2012 for a conditional licence agreement with Medite;\n· Further industry recognition:\no Medite Tricoya® won Product of the Year at the Sustain Magazine Awards for Sustainability, Business and the Built Environment; and \no Accoya® window frames have been found to be carbon negative over their lifetime; and\n· Net cash balance of €20.5m at 31 March 2013 (December 2012: €21.2m).\nFinancial results (unaudited)\nTotal revenue for the year ended 31 March 2013 increased by 25% to €18.8m (2012: €15.0). In the same period, Accoya® revenue increased by 45%, excluding sales to Medite for the manufacture of Tricoya, to €16.4m (2012: €11.3m), noting a substant...