S.P.I Landscape Design Co. Ltd.

AFYREN reported net income of €2.4 million for the first half of 2026, reversing a net loss of €6.9 million a year earlier, after completing the €11.3 million cash buyout of the 49% stake held by SPI in its AFYREN NEOXY plant. The acquisition, which took effect in the accounts from March 31, 2026, lifted tangible and intangible assets to €96.5 million and produced €15.8 million in non-recurring income from the revaluation of the previously held stake, while consolidated financial debt reached €40.9 million against equity of €71.8 million. First-half revenue came to €1.3 million, of which €585,000 was sales of acids and fertilizer, and the company said billings at the plant of roughly one million euros doubled the level recorded for all of 2025. AFYREN also secured a €12.5 million venture debt facility from BNP Paribas with a five-year maturity and a two-year repayment grace period, plus a €3 million grant from the European Just Transition Fund administered by the Grand Est region. The company said it targets doubling AFYREN NEOXY's revenue in the second half of 2026 versus the first half, and confirmed its objective of reaching the plant's break-even point and then the Group's break-even on completion of the 2026–2027 investment program, with a final decision on a second plant reasonably envisioned for 2028 and commissioning in 2030.