REG - Accsys Technologies - Trading Update

Accsys TechnologiesAnnouncement

04/09/2024 07:00

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RNS Number : 7921C  Accsys Technologies PLC  04 September 2024

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 (http://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
(http://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 (http://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.

 

 

 

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