Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
That sums it up nicely Thordon! The revenue growth curve is 5 Years late. And in case anyone needs reminding, a lot of good info in this:
https://cdn.proactiveinvestors.com/upload/NetResearch/PdfFile/2019_04/Itaconix---Gaining-global-reach.pdf
Wishing us all a great update SI. Our patience deserves it and hoping ITX Mk 3 will really start to motor. It’s a $10M (profitable) revenue number und have my eye on for 2023. If that happens then the brakes are truly off and then we are looking at upsizing factory operations. That is an RNS I am really really looking forward to.
Nice work Thordon. And also great to see another 20 Tonnes of raw material landing at the factory from Qingdao a couple of weeks ago.
https://panjiva.com/Itaconix-Co-Ltd/30450487
Where will the market value be in 5 years AJP? We are still undervalued based on future potential for sure, but probably correct just now just looking at current size of business at this exact point in time. Our highs and lows of the past couple of years have reflected moves in hope/sentiment on actual delivery of breakeven I think combined with excitement over new business.
I’m still massively excited about Itaconix and just had a look at Itaconic Acid imports into USA: major shipments going into the USA (to many customers) and, as they say, a rising tide lifts all boats.
On 9th April last year there was an RNS with Share Award to JS and YD as part of their incentive programme. Looks like no award for FY 2021 (no revenue growth), but given the incentive share award scheme expires end of 2022, I’m sure they are working hard to have the FY2022 numbers as good as possible!
DFV, this is what I posted on 4th Feb 2021, which I think is still a fair shout:
* If we maintain current margins of 37% GM (CoGS/Sales), and assuming an annual $3M overhead base, then we need Annual Revenue of $8.1M for breakeven. We are on that part of the journey where I see it as no longer the case of if we will get there, but when. Perhaps a reason why the CEO wisely put a 5-10 year window on the $75M objective.*
The question is DFV, what is the breakeven point for the company. I remember running some numbers a while back, and BE revenue - based on stated GM from annual report (I recall at some 37%) - was quite a bit more than Finncap 2022 projected revenue target. But what do I know! Anyway, I’ve still got my crosshairs on 2023, but things of course could take off before then.
Current factory capacity can support a $15M business Amon. Plan for this year is $4.6M. 2023 might be double that (my guess). Building extra capacity depending on what they need to do is a 1-2 year affair - so they may well be on it now.
Thordon - if that is correct - and Finish is a Reckitt Benckiser product - that is a potential game changer because Reckitt Benckiser are right up there with Unilever, Henkel, et al
To quote John Shaw: “we are dealing with Science Fact, not science fiction.”
Total belief, as you say AJP. They clearly have a very tight relationship with IP Group and to me this looks like the delayed freight train containing the new business pipeline - seen by IP Group at the last 12p fund raise - is now approaching fast. Looks like additional investment, at this level, by this time next year might be worth more than their last.
Correctamundo mcm - wish it had been me lol. Based on my Ineos theory I bought another 105889 today. Might be wrong on that! But we are “dealing in science fact, not science fiction.” The CEO’s words from his last presentation.
I’d forgotten about that AJP - well reminded! There HAS to be something in this. So many boxes are being ticked here. I also remember John saying they would look to have, down the line, a European Manufacturing Plant...
Our share price is way down on historical highs, but it’s stuff like this - even if wrong! - which keeps the interest and optimism burning.