Accsys is the only stock that’s moving in the right direction today. I really like this company for their proces of making hardwood out of softwood. They are still in the startup fase and had some trouble with licensing the product in Asia but things are looking up now. They just started at the wrong time when the housingmarket collapsed but they have managed to stay floating. Although they had some rough years things are looking better now. They have boosted sales with 78% and their biggest production plant in Arnhem is finally making (Ebitda) profit. Now it is just a matter of time before the results will be written in black. It’s still a smallcap so with this potential I can easily see it being bought by one of the bigger guys. STRONG BUY!
ACCSYS TECHNOLOGIES PLC
Accsys, the environmental science and technology company whose primary focus is on the production and technology licensing of Accoya® wood and Tricoya® wood elements, today issues a trading update for the full financial year ended 31 March 2014 (based on unaudited figures).
Key highlights include:
* Strong performance with total revenue increasing by 78% to €33.5m (2013: 25% growth to €18.8m);
* Cash balance increased to €15.2m (December 2013 €14.4m) due to a combination of revenue Growth, licence income and improvements in working capital;
* Continuing growth in Accoya® wood revenue of 77% to €29.3m (2013: 22% growth to €16.6m). Excluding sales to Medite, Accoya® revenue increased by 61% to €26.4m (2013: 45% growth to €16.4m);
* Total Accoya® volume sold increased by 88% to 25,391m 3
(2013: 9% growth to 13,471m3);
* Arnhem plant profitability continues to improve, recording a positive EBITDA in the year;
* The decision concerning Solvay’s plant and its location is expected in the next few months;
* Total of 59 Accoya® distributor and agency agreements now in place, an increase from 42 in 2013 and 35 in 2012; and
* Tricoya Technologies Limited (‘TTL’), our JV with INEOS, continues to make progress:
o Significant work carried out in developing the Process Design Package for Medite;
o Strong increase in demand for Medite Tricoya;
o Medite Tricoya project has been awarded Life+ subsidy from the EC, worth up to €2.1m
You can read the full update here.
And now it is:[stock-tools symbol=”AXS.L” image_height=”100″ image_width=”150″]