In an interim statement, the London-based company, whose manufacturing arm is based in Holland, also said revenue from sales to Accoya customers (excluding sales to Medite for the manufacture of Tricoya modified wood panels) grew by 42% for the period.
“Continued increases in sales volume, together with the resulting improvement in profitability, are expected to enable the Arnhem manufacturing facility to achieve a positive earnings (before interest, tax, depreciation and amortisaton) level at only 50% of its current capacity; a level which also demonstrates the potential returns a prospective licensee may be able to generate,” Accsys said.
Accsys and Tricoya Technologies Ltd, the newly-formed joint venture with Ineos, have continued to develop new and existing potential Accoya and Tricoya licence opportunities with parties whose combined total wood product manufacturing or processing capacity is in excess of 10 million m3 per year.
Coillte Panel Products has continued to grow sales of Medite Tricoya Extreme Durable MDF since the product was launched at the end of 2011. Panels are now being sold in five European countries.
A Latin American licence option holder for Tricoya is undertaking market and product development work ahead of deciding whether to proceed with a licence.
Accsys CEO Paul Clegg said sales growth, further industry awards and new distributors, provided confidence about Accsys’s longer-term objective of achieving profitability and increasing revenues from licensing its technologies worldwide.
Accsys has made annual losses for the last three years; it recorded post-tax losses of €14.4m in the 12 months ended March 31, 2012.
