{"id":65937,"date":"2019-08-28T07:23:45","date_gmt":"2019-08-28T05:23:45","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=65937"},"modified":"2019-08-23T13:24:14","modified_gmt":"2019-08-23T11:24:14","slug":"avantium-first-half-2019-results","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/avantium-first-half-2019-results\/","title":{"rendered":"Avantium First Half 2019 Results"},"content":{"rendered":"<p><strong>Avantium N.V., a leading technology development company and forerunner in renewable chemistry, today reports its 2019 half year results.<\/strong><\/p>\n<h3>Key Business Developments in the First Half of 2019:<\/h3>\n<ul>\n<li>Avantium Renewable Polymers (formerly known as Synvina) was successfully integrated within Avantium, leading to a revised Scale-up and Market Launch Strategy:<\/li>\n<\/ul>\n<ul style=\"list-style-type: circle;\">\n<li>Intention to build a cash-flow positive flagship plant to start up in 2023 with a planned annual capacity of 5 kilotons of FDCA and PEF<\/li>\n<li>The design of a flagship plant has commenced with leading engineering services company Worley (formerly Jacobs Engineering) commissioned to execute the detailed pre-engineering studies<\/li>\n<li>Site selection in northwestern continental Europe is to be completed in the second half of 2019<\/li>\n<\/ul>\n<ul>\n<li>The most advanced technologies of Avantium Renewable Chemistries \u2013 Mekong and Dawn<sup>TM<\/sup> \u2013 are progressing towards commercialization:<\/li>\n<\/ul>\n<ul style=\"list-style-type: circle;\">\n<li>Avantium secured \u20ac3 million in European Union grants for its Mekong and Dawn<sup>TM<\/sup> Technologies<\/li>\n<li>The opening of the Mekong demonstration plant is scheduled for November 2019 in Delfzijl, the Netherlands<\/li>\n<\/ul>\n<h3>Key Financial Developments in the First Half of 2019:<\/h3>\n<ul>\n<li>The cash position was \u20ac53.1 million at 30 June 2019 (31 December 2018: \u20ac83.3 million). The cash outflow in the first half of 2019 is mainly attributable to regaining full ownership of Renewable Polymers (\u20ac 17.4 million) and investments in our Mekong demonstration plant (\u20ac3.1 million) in line with our strategic plan<\/li>\n<li>Total adjusted EBITDA decreased in line with plan to \u20ac -8.8 million in the first half of 2019 (\u20ac &#8211; 1.3 million in the corresponding period of 2018), mainly due to inclusion of Avantium Renewable Polymers as an Avantium business unit (\u20ac -4.3 million) and investments in building the Mekong demonstration plant (\u20ac -3.1 million)<\/li>\n<li>Consolidated first half 2019 revenues decreased by \u20ac1.2 million to \u20ac5.2 million (HY 2018: \u20ac6.4 million) mainly due to timing of Catalysis order intake \u2013 higher revenues in the first half of 2018 and new contracts negotiated towards the end of the first half of 2019 caused a shift in revenues, which was partly mitigated by Avantium Renewable Chemistries and Avantium Renewable Polymers revenue in HY 2019<\/li>\n<li>Operating expenses increased to \u20ac17.4 million (HY 2018: \u20ac9.9 million) due to the acquisition of 100% ownership of Synvina and its incorporation into Avantium\u2019s cost base as Avantium Renewable Polymers<\/li>\n<\/ul>\n<p>The complete press release you may <a href=\"https:\/\/www.avantium.com\/wp-content\/uploads\/2019\/08\/20190820-Press-Release-Avantium-publishes-first-half-year-results-2019-FINAL.pdf%20%20%20\" target=\"_blank\">download here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Avantium N.V., a leading technology development company and forerunner in renewable chemistry, today reports its 2019 half year results. Key Business Developments in the First Half of 2019: Avantium Renewable Polymers (formerly known as Synvina) was successfully integrated within Avantium, leading to a revised Scale-up and Market Launch Strategy: Intention to build a cash-flow positive [&#8230;]<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572],"tags":[5838,10408],"supplier":[742,13428],"class_list":["post-65937","post","type-post","status-publish","format-standard","hentry","category-bio-based","tag-bioeconomy","tag-greenchemistry","supplier-avantium-technologies-bv","supplier-synvina-c-v"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/65937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=65937"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/65937\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=65937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=65937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=65937"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=65937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}