Intro:

Pyrum Innovations AG has released its mid-year results for 2025, reporting a 79% increase in revenue compared to the first half of 2024, along with significant progress on its expansion and commissioning projects. 

Financial Performance & Key Metrics

• Revenue for the first six months reached €1,267 thousand, up from €708 thousand in H1 2024. 
• Total output (including capitalized own work) rose by ~48% to €6,712 thousand (vs. €4,536 thousand). p
• EBITDA improved to –€2,358 thousand (from –€3,183 thousand), while EBIT registered –€3,942 thousand (improving from –€4,289 thousand). 
• Net result (loss) improved slightly to –€4,582 thousand (from –€4,787 thousand). 
• Liquidity (cash & equivalents) as of June 30, 2025, stood at €2,878 thousand (down from approximately €11,740 thousand at the end of 2024). 

The improved margins reflect a combination of higher revenue and increased subsidies & capitalizable work to support expansion.

Progress on Plant Projects & Operational Developments

Pyrum made significant strides in its expansion and commissioning plans during H1 2025:

• The commissioning of the grinding and pelletizing plant at the Dillingen site began in July, with short periods achieving a throughput of ~800 kg/h, meeting customer quality standards. 
• A key bottleneck remains in the pelletizing step, especially due to material transport between reactors and mills; the manufacturer is working on solutions. 
• Maintenance and process optimizations were completed for new reactors TAD 2 and 3 at the Dillingen site, and cleaning cycles were extended from 4 weeks to 8 weeks. 
• At the Perl-Besch site, preparatory works advanced: the site was connected to transport infrastructure, long-lead equipment ordered, architects engaged, and ground works initiated. A symbolic groundbreaking is planned by year-end. 
• Because of these ongoing adjustments, Pyrum expects to delay some investments originally scheduled for H2 2025 into early 2026. 

Pyrum leadership notes that while the full target throughput has not yet been achieved, interim steady production (600-800 kg/h over ~12-14 hours/day) is expected to significantly increase fourth-quarter sales.

Outlook & Forecast for Full Year 2025

• Pyrum reaffirmed its full-year revenue forecast of €4.5 to €6.0 million (from operations + consulting). 
• Total output is now expected in the range of €10 to €15 million, revised downward from earlier guidance of €20–25 million. 
• EBIT (loss) is forecasted in the band of –€8.5 to –€10.5 million. 
• A capital increase was closed in July 2025, raising €5.6 million in equity, to fund expansion and maintain liquidity. 
• Pyrum anticipates reaching full pelletizing throughput (~80% capacity) in early 2026, with complete scale expected by mid-2026. 

Management emphasizes that the focus for the remainder of 2025 is on commissioning, improving process stability, and securing customer and consulting contracts to complement production revenues.

Pyrum Innovations AG (Pyrum) published its consolidated financial results for the first half of 2025, reporting revenue of EUR 1.27 million, up 79% from the same period in 2024. Total output increased by 48% to EUR 6.71 million, driven by ongoing investments in the second Pyrum plant in Perl-Besch and commissioning work for new facilities in Dillingen. Capitalized own work reached EUR 5.21 million, compared to EUR 3.61 million a year earlier.

Other operating income nearly tripled to EUR 2.3 million, primarily due to subsidies for job creation associated with the expansion of the Dillingen plant. Operating expenses increased to EUR 2.18 million, reflecting the costs of operating the new production lines TAD 2 and TAD 3. EBITDA improved to EUR -2.36 million (H1 2024: EUR -3.18 million), while EBIT came in at EUR -3.94 million (H1 2024: EUR -4.29 million). The net result for the period was EUR -4.58 million. Liquidity stood at EUR 2.88 million as of 30 June 2025. In July, Pyrum raised an additional EUR 5.6 million in equity through a capital increase.

CEO Pascal Klein acknowledged challenges with the new grinding and pelletizing plant: “Unfortunately, we are not yet where we want to be in terms of the throughput… Ideally, the necessary adjustments should take place in December 2025, but no later than in the first quarter of 2026.” He added that a stable production of 600–800 kg/h should drive higher sales in the fourth quarter. At the same time, priorities for the remainder of 2025 include starting construction in Perl-Besch and completing the commissioning process.

At Dillingen, commissioning of new plants began in July, and a short-term throughput of 800 kg/h was achieved, meeting customer standards. Initial samples were delivered to tyre manufacturers, with Schwalbe purchasing its first quantities. However, bottlenecks remain in pelletization due to material transport issues. Maintenance of new production lines was completed, and cleaning cycles were extended from four to eight weeks.

According to Pyrum, Preparations for the Perl-Besch site are progressing, with transport network connections completed, long-lead components ordered, and architects commissioned. A groundbreaking ceremony is expected before year-end. The new plant is designed to expand production capacity significantly.

For the full year 2025, Pyrum confirmed its revenue forecast of EUR 4.5–6.0 million, with total output now expected at EUR 10–15 million, revised down from EUR 20–25 million. EBIT is forecast between EUR -8.5 million and EUR -10.5 million. Investments planned initially for the second half of 2025 will be postponed to the first half of 2026.

Learn more in the original article by Pyrum Innovations AG.

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