{"id":74810,"date":"2024-06-26T10:51:03","date_gmt":"2024-06-26T10:51:03","guid":{"rendered":"https:\/\/staging.roofingtoday.co.uk\/accsys-results-report-drop-in-revenue\/"},"modified":"2025-11-25T10:18:04","modified_gmt":"2025-11-25T10:18:04","slug":"accsys-results-report-drop-in-revenue","status":"publish","type":"post","link":"https:\/\/roofingtoday.co.uk\/us\/accsys-results-report-drop-in-revenue\/","title":{"rendered":"Accsys Results Report Drop in Revenue"},"content":{"rendered":"\n\n\n
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Accsys Results Report Drop in Revenue<\/h1>\n
\n 26 June 2024<\/span>\n <\/div>\n \n <\/div>\n
\n

\"Accsys<\/p>\n

IN AN UPDATE<\/strong><\/span> on its financial year ending 31 March 2024, Accsys Technologies reported a 16% drop in revenue to \u20ac136.2m from \u20ac162.0m in 2023.<\/p>\n

The manufacturer of sustainable wood building products also saw a fall in its Accoya modified wood product sales of 11% on the year prior at 56,568m3<\/sup>.<\/p>\n

Hull Plant Progress<\/strong><\/h2>\n

Accsys<\/a> says this drop in revenue was partly impacted by a change in the accounting method for its Tricoya manufacturing plant in Hull, with ongoing running costs being treated as operating expenditure.<\/p>\n

In its previous update, Accsys announced it would review the \u201cviability, strategic interest and financial capabilities\u201d of its Hull plant early this year. The company has since engaged a financial advisor to assist it in seeking a financing partner to complete the Hull plant, and says it is on track to come to a resolution within H1 2025.<\/p>\n

United States Venture<\/strong><\/h2>\n

In the United States, Accsys reports commissioning is underway on its newly constructed plant in Kingsport, Tennessee. Its first batches are expected to be produced in the coming weeks, adding 43,000m\u00b3 of additional production capacity.<\/p>\n

Starting in Q2, North American sales will gradually transition from being supplied by Accsys\u2019 Arnhem plant in the Netherlands to its new Kingsport plant. The company has set a target to refill the lost capacity at Arnhem within 12 months of migrating to Kingsport on a run rate basis, which equates to double digit growth in underlying sales volume outside of North America during the period.<\/p>\n

In the coming year, Accsys says it expects to leverage the benefits from greater economies of scale associated with the ramp-up of Accoya USA in Kingsport. It aims to deliver approximately 100,000m\u00b3 of production volume across Arnhem and Kingsport by the end of 2027.<\/p>\n

Jelena Arsic van Os, Executive Chair of Accsys, <\/strong>commented: \u201cFY24 has been challenging with recessionary forces impacting demand in the construction and building materials market. We took decisive steps to counter these challenges and delivered a more resilient fourth quarter, with our full year results coming in ahead of updated market expectations.<\/p>\n

\u201cIn the coming year we expect to take advantage of having two Accoya production plants. With our increased production flexibility and capacity, we will continue to invest and professionalise our commercial activities, particularly in North America. As inflation steadies and the construction market recovers, we are in a strong position to capitalise on demand and drive growth.\u201d<\/p>\n

>> Read more about Accsys in the news<\/em><\/a><\/p>\n <\/div>\n \n

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