Let’s bump this old news, as the thread had fallen into oblivion. Q4 earnings report should also be out today.
I came across the company through Nordea, and I’ll add new news here regarding the company’s factory to be established in Sundsvall:
https://www.renewcell.com/en/eu-backs-renewcell-to-boost-circularity-in-the-fashion-industry/
The company’s website also has Q1 results, from which excerpts:
Net sales for the period amounted to SEK 601 thousand (24). • The loss after financial items amounted to SEK 19,250 thousand (-15,956).
Danish fashion house BESTSELLER launched its first garment made of Circulose® through the brands Vero Moda and Selected.
Orders and sales
Sales of Circulose® pulp amounted to 36 metric tons (22) during the period, for which some second grade material was also sold from the warehouse. Sales volumes were limited by the rate of production at the plant in Kristinehamn, where machine investments for optimized runnability and qualification of customer-adapted raw-material and product specifications were prioritized over volume production.
1 Like
MFN.se > Re:NewCell AB (publ) > Renewcell publishes its annual report for 2021 The annual report came out a few days ago.
1 Like
@Homeros liked a post, so let’s update some current announcements and Q3 here as well
Let’s also include this from the end of last year
1 Like
Nordea’s 11/2022 report has a Buy rating and a 250 SEK target.
It has rallied from 60 to 100 in six months.
I don’t have detailed info on the company, but the cash position is solid for a couple of years until the start of production.
I’m in this with a “support grand” mainly to cheer them on.
Q4 came out today
https://www.renewcell.com/en/wp-content/uploads/sites/2/2023/02/year-end-report-q4-22-230215.pdf
Webcast
2 Likes
Does anyone in the thread know how much production capacity they can fit into their current plant? I understand from the earnings materials that at least 120kt would fit, but what about after that? If no more can fit, I wonder if there are more of those abandoned pulp mills to be found?
Negative profit warning yesterday. -51% at the open today. Ramp up and so on.
2 Likes
Renewcell’s journey on the stock exchange has now lasted about three years. It’s been a wild ride with no shortage of drama. And the events of the last few weeks are in a league of their own: a profit warning, revenue recognized prematurely, the CEO getting the boot… The company’s future doesn’t look good. And this “great news” is likely not good for other textile industry innovators either, such as Infinited Fiber or Spinnova.
Article for subscribers.
9 Likes
Yesterday’s press release.
“Re:NewCell hereby announces that its Board of Directors has decided to immediately initiate a strategic review to explore and evaluate various funding alternatives. As part of this process, the Board of Directors will consider all potential alternatives to secure funding and optimise shareholder value. Such alternatives may include additional debt funding, equity injection through the form of a rights issue, equity injection through a directed issue targeted to a financial or strategic investor or other possible strategic transactions.”
https://www.renewcell.com/en/renewcell-initiates-a-strategic-review/
1 Like
Ecotextile Talks podcast episode 22.11.2023: Has Renewcell been let down by fashion brands
“Acting CEO of Renewcell Magnus Håkansson joins Ecotextile Talks to discuss the company’s current challenges in receiving a higher price for a product offering the circularity so often discussed at textile sustainability conferences.”
1 Like
This was starting to be the expected outcome, on to new disappointments!
4 Likes