WPU - Waste Plastic Upcycling (WPU) Q3 2024 earnings summary

Executive summary

• Processed 636 tons of waste plastic into PtL feedstock in Q3, totaling 1,970 tons year-to-date.

• Focused on optimizing production and technology, leading to increased production in early Q4.

• Strengthened supplier relationships to secure high-quality feedstock.

Financial highlights

• Q3 operating revenue was 3.7 million DKK; revenue was 4.6 million DKK below budget due to poor feedstock quality.

• Q3 pre-tax loss improved to -12.4 million DKK from -14.6 million DKK in Q2; YTD pre-tax loss reached -40.8 million DKK.

• Costs remained aligned with budget.

• Net cash outflow from operations was -29.8 million DKK in Q3; net change in cash and cash equivalents was -12.3 million DKK.

Outlook and guidance

• October production roughly matched full Q2 output, indicating operational improvements.