AIM: AXS
Euronext Amsterdam:
AXS
04 September
2024
Accsys Technologies
PLC
("Accsys", the
"Group" or the "Company")
Accoya USA commercially operational and
Q1 trading update shows ongoing momentum
Accsys, the world's leading supplier of premium,
high performance and sustainable wood building materials, today
provides the following update regarding recent trading and the
status of its strategic growth project in the US.
Accoya USA
commercially operational
As anticipated, Accoya USA has now commenced
commercial operations. The newly constructed plant in Kingsport
Tennessee is owned 60:40 by Accsys and Eastman Chemical Company in
joint venture. This is a key step in the Group's goal of delivering
volume of 100,000m³ within the next three years from its production
facilities at Arnhem and Kingsport.
Q1 trading:
continued momentum
Good demand and revenue growth for Accoya wood
products in the first quarter of FY2025:
·
Revenues at €35.9m, a 3% increase compared to the prior year,
despite continued global market headwinds for the construction and
building materials industry
·
The North American market, the Group's largest growth area,
is experiencing solid growth, reflecting increasing demand for
Accoya products
·
Good performance in the UK, France and Benelux
markets
·
Additional increased global demand for Accoya Color with
double digit year on year growth
·
Maintained pricing discipline and good cashflow performance
throughout the period.
·
The Company is realising the impact of the €3.0m annualised
cost savings from the business transformation programme and
embedded cost discipline
·
A good start to Q2 and a healthy order book across the
regions, providing confidence the Group is back on a growth
trajectory
Dr. Jelena Arsic van
Os, CEO of Accsys Technologies PLC commented:
"I'm delighted that we are commercially operational at
our Kingsport facility, fulfilling our earlier set goals. We have
successfully established a local presence for our North
American customers. This significant international
expansion marks a major milestone for
Accsys and Accoya USA. With this proximity, we can
efficiently serve the largest and most attractive wood market in
the world with Accoya, the most durable and stable wood in the
marketplace. This achievement is a crucial step forward for our
Company.
Furthermore, Q1 trading performance has been
solid, continuing momentum from Q4 of our last financial year. This
trend has continued into Q2 and our order book is healthy across
our markets."
Ends
Enquiries:
Investor
Relations / Analysts:
ir@accsysplc.com
Media: Clemens
Sassen, Tessa Nelissen, Huijskens Sassen Communications
(NL)
+31 (0) 20 68 55 955
Deutsche Numis
(London): Oliver Hardy (NOMAD), Ben
Stoop
+44
(0) 20 7260 1000
ABN Amro
(Amsterdam): Richard van Etten, Dennis
van Helmond
+31 20 344
2000
Notes to
editors:
Accsys (Accsys
Technologies PLC) is a fast-growing business with a purpose:
changing wood to change the world. The company combines chemistry,
technology and ingenuity to make Accoya® wood and
Tricoya® wood chips: high performance wood
products that are extremely durable and stable, opening new
opportunities for the built environment and giving the world a
choice to build sustainably. Accsys transforms fast-growing,
certified sustainable wood into building materials with an up to
50-year warranty, locking carbon stored in the wood into useful
products for decades, with performance characteristics that match
or better those of non-renewable, resource-depleting and polluting
alternatives. Accsys is listed on the London Stock Exchange
AIM market and on Euronext Amsterdam, under the symbols 'AXS'.
Accsys is a Participant of the United Nations Global
Compact and adheres to its principles-based approach to responsible
business.
Visit www.accsysplc.com
Accoya® solid wood is
sustainable, durable, and stable with exceptional performance,
finish and sustainability. Accsys' proprietary acetylation process
makes the wood more dimensionally stable and because it is no
longer easily digestible, extremely durable. It is one of very few
building materials to be Cradle to Cradle Certified™ at the Gold
level, with a Platinum rating for Material Health, confirming that
no harmful or toxic additives or chemicals are present to leach out
into the environment. Primary applications for Accoya®
wood include windows, doors, cladding and decking, where the
combination of performance and sustainability benefits compete
favorably against hardwoods, plastics, metals and concrete. Visit
www.accoya.com
Tricoya® acetylated wood
elements are produced for use in the fabrication of panel products
such as medium density fibreboard (MDF). Panel products made with
Tricoya® wood elements are truly durable and stable
enough for use outdoors and in wet environments, unlocking new
possibilities for design and construction. They have been lauded as
the first major innovation in the wood composites industry in more
than 30 years and bring the flexibility of traditional panel
products and sustainability benefits of wood to a whole new range
of applications. Visit www.tricoya.com
Any references in this announcement to agreements with
Accsys shall mean agreements with either Accsys or its subsidiary
entities unless otherwise specified. 'Accsys' and 'Accsys
Technologies' are trading names of Titan Wood Limited ("TWL"), a
wholly-owned subsidiary of Accsys Technologies PLC.
Accoya®, Tricoya® and the Trimarque Device
are registered trademarks owned by TWL, and may not be used or
reproduced without written permission from TWL, or in the case of
the Tricoya® registered brand trademark, from Tricoya
Technologies Limited, a subsidiary of TWL with exclusive rights to
exploit the Tricoya® brand.
