on AFYREN (EPA:ALAFY)
AFYREN publishes its 2024 half-year financial results
AFYREN has announced its financial results for the first half of 2024. The company recorded a stable net loss of €5.3 million, reflecting good control of operating expenses. Revenue decreased by 30% to €1.36 million, due to the reduction in services provided by its subsidiary AFYREN NEOXY.
AFYREN NEOXY has marketed the first tonnes of bio-sourced acids and fertilizers, but adjustments are necessary to achieve continuous production by the end of 2024. Available cash amounts to 43 million euros, with a consumption of 6 million euros including transitional support for production.
The company continues its strategic partnerships, notably with SUEZ on the recovery of biowaste and Mitr Phol in Thailand. A new contract was signed with an American company specializing in nutraceutical ingredients. AFYREN also continues to focus on its ESG initiatives, publishing its first sustainability report.
R. H.
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