AFYREN announces its 2022 annual financial results

21 Mar, 202329 May, 2023

A successful 2022 in commercial, industrial, and extra-financial terms:
• Inauguration of the group’s first factory, AFYREN NEOXY
• Commercial success: 75% of annual acid volume and 100% of fertilizer already pre-sold
• Further improved extra-financial rating (78/100 vs. 66 published and 72 adjusted)

Teams fully mobilized at the start of 2023:
• Reliability testing and tuning is in progress at AFYREN NEOXY plant, and clients have confirmed commitments for orders totaling €165 million in revenue
• International expansion is confirmed, with the project for a second factory in Thailand

A solid financial situation at the end of 2022:
• Net loss in line with expectations: delivery and start-up of the AFYREN NEOXY plant, as well as development costs of next plants and innovation projects
• Limited cash consumption: €62.3 million of cash available as of December 31, 2022, to continue executing the medium-term strategy presented at the IPO

Clermont-Ferrand/Lyon, March 21, 2023, at 5:45 p.m. CET – AFYREN, a greentech company that provides manufacturers with low-carbon, bio-based products through its unique fermentation technology based on a completely circular model, today announced audited annual financial results for the year ended December 31, 2022, and approved by the Board of Directors on March 21, 2023.

Nicolas SORDET, CEO of AFYREN, commented: “In 2022, AFYREN achieved major milestones set out in the roadmap presented at the time of its 2021 IPO, with the inauguration of the AFYREN NEOXY plant, the structuring of its teams, the pursuit of an advanced CSR policy and the signing of new contracts. Let’s move on to 2023 and the new challenges we are tackling, in particular the gradual launch of industrial production at AFYREN NEOXY this year and the finalization of our joint venture project with a leader in the sugar industry for a plant in Thailand. Exchanges with customers and prospects indicate that as each day goes by, demand is broadening for our unique offerings, and our priority is to meet it as soon as possible.”

Full Press release:

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