Agilyx has published its full year report and accounts capping a transformative year with a new and better funded exposure to the Cyclyx JV and progressing its investment in the second Cyclyx Circularity Centre (CCC). It has also seen the start of operations at the Toyo Styrene facility in Japan. We have updated our forecasts to true up with the full year accounts. In particular we have adjusted for the timing of the US$67.5m investment in CCC2 with US$20m already advanced in Q4 2024, removing the need for any near term additional equity even in our high growth case. We are also now showing pre-commissioning costs as expensed. Our central case valuation is changed slightly at NOK 106.3 against NOK 107.9.
