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Company TIDM Headline Accsys Technologies PLC AXS Preliminary results for the year ended 31 March 2021 Released Number 22 June 2021 6233C 22 June 2021 A ACCSYS AIM : AXS Euronext Amsterdam : AXS Accsys Technologies PLC ( " Accsys " , the " Group " or the " Company " ) Preliminary results for the year ended 31 March 2021 Profitability progression and strategic progress Accsys , the fast - growing and eco - friendly company that combines chemistry and technology to create high performance , sustainable wood building products , announces its preliminary results for the year ended 31 March 2021 ( " FY 21 " ) . Year to 31 March 2021 Year to 31 March 2020 Underlying Statutory Underlying Statutory Total Group Revenue € 99.8m € 99.8m € 90.9m € 94.1m Gross profit € 33.1m € 33.1m € 27.5m € 30.7m EBITDA² € 10.1m € 10.4m € 7.0m € 10.0m EBIT3 € 4.4m € 4.6m € 1.4m € 4.4m Profit / ( loss ) before tax € 1.1m € 0.3m ( € 2.2m ) € 1.5m Period end net ( debt ) 4 ( € 12.2m ) ( € 25.2m ) 60,466m³ 57,842m³ Accoya® sales volume Key highlights : • Revenue up 10 % and sales volumes up 4.5 % with a rapid recovery after the initial impact of COVID - 19 in the first quarter . Strong profitability progression : Group underlying EBITDA2 up 44 % to € 10.1m and Accoya® Manufacturing margin¹ up 340bps to 33.4 % , driven by higher sales prices . Our second consecutive year of positive EBIT . • Accoya® performance drove a 61 % increase in Group Operating cashflow , with continuing significant market demand in excess of production capacity . • • Robust balance sheet with € 13.0m reduction in Group Net Debt4 with strong Accoya® cash generation . Strategic progress towards 2025 target of increasing production capacity five - fold6 : 。 World - first Tricoya® ( Hull ) plant construction in final stages of completion despite ongoing challenges . The Group is taking over the project and is evaluating the most effective way to complete the construction following termination of the EPC contract . 。 Accoya® Arnhem plant fourth reactor on track to be operational Q4 FY22 . 。 Accoya® USA JV on track for investment decision in summer 2021 following successful Accsys ' € 35m net capital raise in May 2021 to fund Accsys ' equity share of JV . 1