Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
I share the frustration Smart, having been there all the way up to x5 from where we are now. The auditors can’t be far away from signing off 2023 books and end of February doesn’t cause me too much concern. Thanks just hope the momentum is continuing and if so, the share price will take care of itself. Raw materials, new staff hires etc. all point in that direction plus the 10M of investment by investors who I guess are more in the know than us. Wouldn’t it be great if with results we got news of GM improvement & Capex plans to fuel burgeoning growth.
If those numbers and assumptions are right AJP, last year was 35T per qtr average. 80T so far in 2024 and the qtr isn’t over yet.
I hope the growth is accelerating, it’s been a longer time (than expected) coming.It would be really great to pass breakeven with a bang this year. Come on team Itaconix!
Wish I’d been a Long Term Amazon shareholder back in The 2000‘s. I would have been asking the same questions as now. Fazit: I‘m in for the long haul and the revenue curve is going the right way.
Fair comment Thordon. I just checked Boots & a leading men‘s brand which they stock - Bulldog Skincare - contains Sodium Polyitaconate. Interestingly, Bulldog is owned by https://edgewell.com/ a leading and global US company which also had Wilkinson Sword, Carefree, Wet Ones, among others, in its brand portfolio. The affirmations of our ingredients continue to grow it would seem. Come on share price!
Thanks AJP also to you & yours. The current share price is a disappointment - so much for my previous matra by end of ‘23! Just shows, don’t pay any attention to my musings. So I’ll be sticking around a while yet! Today’s price is around 2.4p in old money - long way off from where I want us to be.
More grist to the mill and it will happen.
Hi Wacca they have communicated a lot of stuff, such as this:
https://itaconix.com/wp-content/uploads/22-02-09-First-Production-Trial-of-Plant-Based-SAP.pdf
Which is a good reminder for me why as a LTH I am here. In this chemicals business, dislocating established ingredients in formulas with ITX plant based polymers is a long selling cycle. But in the medium term, I’m expecting the trickle of revenue to turn to a flood.
A significant SAP announcement in early 2024 would be a good start.
Hi AJP, I doubt that very much. I’m not an accountant, but If they‘ve forecast and bought a year‘s with of raw material inventory (eg. 100T) the monthly accounted for value will/should be proportional to end product value sold for that month.
In other words there should be a pretty constant GM monthly. Hopefully with a long term upward trend.
Me too Smart. The funds they‘ve invested must have been on a true belief of things to come. Who knows, maybe they are on a 10 year timeline to get their money back tenfold. A nice big fat major announcement with a DuPont or 3M or of that ilk, at some point would help a lot.
It certainly isn’t a good look Surfie. I remember the heady days of 16p (in old money)…if the company maintains its (profitable) growth curve taking it past break even & well beyond, the share price will sort itself.
I won’t. If we continue to grow our revenues 30% annually at decent GM then ITACONIX is a $100M business in 10 years time. The current factory capacity can handle $15M and on a 30% growth trajectory we need twice that capacity by 2028. For me it’s steady as she goes (& grows), which I realise is a bit boring for some. Hype has burned me in the past and this share certainly doesn’t have that (good).
You are right there RV. The RNS uses the word “announces” which is a tad unusual in director speak but perhaps not misplaced, because, after watching & (still) holding ITX for a long time, I have often wondered how come Yvon Durant, the brains behind the technology, hasn’t bought more shares. Now he has - which for me is significant - so I might buy a few more too.
Hi JD the share incentive plan you mention has been discussed extensively on the chat a while back. It is now closed - and share awards were linked to revenue growth. I am unaware of any new share incentive plan. No doubt one will come - hopefully linked to serious company value/profit/margin growth.
Haha nice one CSB! Yep 20p by ‘23 was my mantra - a genuine belief! But if you think 2p by ‘23, you’d better sell quick - not much of ‘23 left!
If you look at the curve of the Amazon share price over the past 20 years (wish I’d bought then) - an industry dislocator - I’m ok with waiting a while yet!
I have AJP. Working hard - I’d hoped ITX would have meant a tad less of that, but still moving in the right direction. Keep an eye on those raw material shipments - another key metric.
Interestingly, there are other major agents/importers taking significant volume of Itaconic Acid, such as WAREHOUSE SOLUTIONS AND JPAC TRADING plus other names such as DOW CHEMICAL. A rising tide lifts all boats and we have a lot of IP in that rising tide.
Correct AJP a second shift (12 hours) 3-4 days will be a back shift - so the plant is running 24 hours, certainly on some weekdays - not sure if it’s 7 days a week though. Shifts maybe 06:00 to 18:00 & then 18:00 to 06:00.
Either way, these are really important facts in demonstrating continuity in growth & ramp up towards break even.