Cyclezyme (CYCLE) Q4 2024 earnings summary

Executive summary

• Focuses on enzymatic solutions for PET plastic recycling, aiming for a sustainable circular economy.

• Achieved breakthroughs in enzyme efficiency, patent progress, and strategic partnerships for industrial scaling.

• Positioned to benefit from new EU regulations mandating recycled PET content in bottles.

Financial highlights

• Net sales remained at 0 KSEK for both Q4 and full year 2024, unchanged year-over-year.

• Operating loss widened to -677 KSEK in Q4 (vs. -575 KSEK) and -2,141 KSEK for the year (vs. -1,513 KSEK).

• Net loss for 2024 was -2,132 KSEK, with EPS at -1.00 SEK (improved from -2.65 SEK in 2023).

• Cash flow for the year was -3,583 KSEK, with cash at year-end at 2,220 KSEK (down from 5,803 KSEK).

• Equity at year-end was 4,747 KSEK, with equity per share at 2.22 SEK and a solidity of 81.8%.

Outlook and guidance

• Expects increased demand due to EU rules requiring 25% recycled PET in bottles from 2025 and 30% by 2030.

• Strategic partnerships and pilot projects are expected to accelerate commercialization and market entry.

• No dividend proposed for 2024.