Trading Update

Accoya USA commercially operational and Q1 trading update shows ongoing momentum

Accsys, the world's leading supplier of premium, high performance and sustainable wood building materials, today provides the following update regarding recent trading and the status of its strategic growth project in the US.

Accoya USA commercially operational

As anticipated, Accoya USA has now commenced commercial operations. The newly constructed plant in Kingsport Tennessee is owned 60:40 by Accsys and Eastman Chemical Company in joint venture. This is a key step in the Group's goal of delivering volume of 100,000m³ within the next three years from its production facilities at Arnhem and Kingsport.

Q1 trading: continued momentum

Good demand and revenue growth for Accoya wood products in the first quarter of FY2025:

• Revenues at €35.9m, a 3% increase compared to the prior year, despite continued global market headwinds for the construction and building materials industry
• The North American market, the Group's largest growth area, is experiencing solid growth, reflecting increasing demand for Accoya products
• Good performance in the UK, France and Benelux markets
• Additional increased global demand for Accoya Color with double digit year on year growth
• Maintained pricing discipline and good cashflow performance throughout the period.
• The Company is realising the impact of the €3.0m annualised cost savings from the business transformation programme and embedded cost discipline
• A good start to Q2 and a healthy order book across the regions, providing confidence the Group is back on a growth trajectory
• Jelena Arsic van Os, CEO of Accsys Technologies PLC commented:

"I'm delighted that we are commercially operational at our Kingsport facility, fulfilling our earlier set goals. We have successfully established a local presence for our North American customers. This significant international expansion marks a major milestone for Accsys and Accoya USA. With this proximity, we can efficiently serve the largest and most attractive wood market in the world with Accoya, the most durable and stable wood in the marketplace. This achievement is a crucial step forward for our Company.

Furthermore, Q1 trading performance has been solid, continuing momentum from Q4 of our last financial year. This trend has continued into Q2 and our order book is healthy across our markets."

Visit www.accsysplc.com