Avantium (AVTX) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 declined 30% year-over-year to €4.7 million, mainly due to lower R&D Solutions revenue.

• EBITDA was negative €18.8 million, reflecting continued investment in the FDCA Flagship Plant and operational ramp-up.

• Cash and cash equivalents were €23.9 million at June 30, 2026.

• The first commercial FDCA batch was produced at the Flagship Plant, with construction phase close-out completed with Worley.

• Strategic focus sharpened on commercialization, scale-up, and licensing of FDCA and PEF, with ongoing portfolio realignment and cost management.

Financial highlights

• Revenue: €4.7 million (H1 2025: €6.7 million), driven by a €2.2 million drop in R&D Solutions.

• EBITDA: negative €18.8 million (H1 2025: negative €18.5 million).

• Net loss: €22.1 million attributable to owners (H1 2025: €9.4 million).

• Cash and cash equivalents: €23.9 million at June 30, 2026 (Dec 31, 2025: €57.5 million).

• Total assets: €332.9 million; total equity: €129.3 million.

Outlook and guidance

• First commercial FDCA deliveries from the Flagship Plant expected by end of 2026, subject to successful qualification.

• Planned equity raise of at least €55 million and €20 million convertible loan facility to support operations and ramp-up.

• Ongoing focus on cost control, liquidity preservation, and strategic realignment toward core FDCA and PEF activities.

• Ongoing preparations for commercial deliveries under existing offtake agreements.