Pyrum Innovations AG Foresees Growth Post Expansion

Pyrum Innovations AG (DE:PYR) has released an update.

Pyrum Innovations AG reported a sales increase of 17% to EUR 1.1 million for the 2023 financial year, but total output decreased to EUR 12.9 million due to the ongoing expansion of its Dillingen plant. The company experienced a consolidated net loss of EUR -9.5 million, but anticipates sales growth with the commissioning of a new grinding and pelleting plant by the end of 2024. Highlights of the year include the start of deliveries to notable clients such as Continental and the approval as a supplier by Pirelli and Hankook.

For further insights into DE:PYR stock, check out TipRanks’ Stock Analysis page.