March 25, 2020 / 6:25 AM / 15 days ago

BRIEF-Avantium FY EBITDA Loss Widens To 16.3 Million Euros

March 25 (Reuters) - AVANTIUM NV:

* AVANTIUM ANNOUNCES 2019 RESULTS: ADVANCES ITS LEAD TECHNOLOGIES TOWARDS COMMERCIALISATION

* TOTAL EBITDA DECREASED FROM €-9.5 MILLION IN 2018 TO €-16.3 MILLION IN 2019

* AVANTIUM RENEWABLE POLYMERS MADE GOOD PROGRESS WITH IMPLEMENTATION OF ITS REVISED COMMERCIALISATION STRATEGY, INCLUDING PREPARATIONS FOR PLANNED CONSTRUCTION OF A 5 KILOTONNES FDCA FLAGSHIP PLANT, CURRENTLY PLANNED TO START-UP IN 2023

* CASH AT 31 DECEMBER 2019 WAS €45.4 MILLION (31 DECEMBER 2018: €83.3 MILLION)

* FY REPORTED NET LOSS FOR 2019 AMOUNTED TO €23.5 MILLION (FY 2018: €68.4 MILLION)

* FY CONSOLIDATED REVENUES FROM OPERATIONS INCREASED BY 22% TO EUR 13.8 MILLION VERSUS EUR 11.3 MILLION YEAR AGO

* ON CORONAVIRUS: WE HAVE NOT EXPERIENCED MATERIAL NEGATIVE CHANGES TO OUR BUSINESS PROSPECTS BUT IT IS STILL TOO EARLY TO PREDICT HOW THE NEXT WEEKS AND MONTHS WILL UNFOLD

* 2020 OUTLOOK: IN AVANTIUM RENEWABLE POLYMERS, WE WILL FOCUS ON ATTRACTING THE FUNDING FOR THE FDCA FLAGSHIP PLANT, WHICH WE WOULD LIKE TO HAVE IN PLACE BEFORE THE END OF 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below