Accsys, the fast-growing and eco-friendly company that combines chemistry and technology to create high performance, sustainable wood building products, announces its interim results for the six months ended 30 September 2022 (“H1 FY 23”).
- Good growth in Group revenue, up 5% to €58.9m driven by increased average sales prices and product mix, despite lower volumes.
- Customer demand for Accoya® remains strong and in excess of production capacity, with a strong customer order book over the next 3 months and beyond.
- Accoya® sales volumes limited by production capacity, down 19% to 23,957m3 due to the previously reported and now resolved shutdown at the Arnhem plant in April/May 2022 around the installation of the fourth reactor (R4).
- Robust Accoya® profit with gross profit per cubic metre of Accoya up 30% to €755/m3:
- Group Gross Profit, up 5% supported by Accoya® sales price increases offsetting higher raw material costs.
- Accoya® manufacturing margin of 30.8% remaining above target level of 30%.
- Underlying EBITDA flat year-on-year, with higher sales prices offsetting lower sales volumes and higher raw material costs.