Record production levels of leading modified wood brand Accoya meant the Arnhem plant recorded earnings before interest, tax, depreciation and amortisation of €0.9m in the six months ended September 30, compared to a loss of €0.5m a year ago.
Accsys expressed confidence in the results, which also saw UK Accoya sales from existing distributors grow by 77%. However, Accsys still recorded an overall pre-tax loss of €3.8m for the period (2012: €-5.4m).
Total Accoya sales revenue grew 80% to €13.9m. The company expects to achieve overall profitability in the medum-term. Accsys chairman Gordon Campbell said economies of scale from higher production volumes and price increases helped boost business.
“I am able to look forward with confidence that we are now entering a new phase of consistent growth and progression,” he said.
Accsys and its joint venture Tricoya Technologies Ltd is developing new and existing potential Accoya and Tricoya (modified wood fibre for use in modified wood panels) licence opportunities with counterparts whose combined wood product manufacturing capacity is in excess of 10 million m3.
It is also developing a number of new species of wood to be acetylated, beyond radiata pine. European alder has already been successfully modified and commercial tests are being undertaken on other species at end user manufacturing facilities with positive results.
The different characteristics of alternative species, Accsys says, allows it to develop new product applications as well as a wider range of raw material sourcing options for Accsys and its licenses.