Q2 revenues rise on better sales of PHA materials / Supplier adds new biodegradable resins / 2023 loss could be at low end of forecast
US biodegradable polymers specialist Danimer Scientific (Bainbridge, Georgia; www.danimerscientific.com) said second-quarter revenues grew to USD 12.9 mn (EUR 11.7 mn) from USD 12.7 mn a year ago, thanks to a 10% rise in sales of PHA-based resins. 

The company also said it is unveiling biodegradable resins for protective films, shrink wrap, and produce bags. Furthermore, the supplier said it is working toward the rapid commercial launch of compostable coffee pods, which CEO Stephen Croskrey called a “very large category currently dependent on petroleum-based materials”, the fate of which depends on the passage of EU legislation.   

Earlier this year, the company announced the creation of such pods with TotalEnergies Corbion (Gorinchem, The Netherlands; www.totalenergies-corbion.com).

It noted that current development work focuses on end-use applications of straws and cutlery for quick-service restaurants, and aqueous and extruded coatings for paper cups and thermoformed cup lids.
Forward guidance still points to loss this year
For 2023, the company said it still expects an adjusted EBITDA loss of USD 23 mn-USD 31 mn compared with the loss of 45 mn in 2022. It updated guidance to note that a bias toward the low end of the range would be prudent due to a possible shift in the timing of certain significant new programme awards and associated first shipment delays.

The supplier said it managed to reduce its second-quarter adjusted EBITDA loss to USD 10.2 mn from a shortfall of USD 12.9 mn in the same quarter last year, an improvement it attributed to cost cuts.

The adjusted gross loss widened to USD 1.6 mn from a contraction of USD 0.5 mn due to increased fixed production costs, the company said.  The net loss grew to USD 39.2 mn from the USD 30.4 mn shortfall in the year-earlier period.  

16.08.2023 Plasteurope.com [253421-0]
Published on 16.08.2023
Danimer Scientific: PHA-Materialien für Schrumpffolien und KaffeekapselnGerman version of this article...

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