Regulatory Story
Go to market news section View chart   Print
Itaconix PLC   -  ITX   

Full Year Trading Update

Released 07:00 18-Feb-2019

RNS Number : 2816Q
Itaconix PLC
18 February 2019


18 February 2019                                                                                           

Itaconix plc ("Itaconix" or the "Company")

Full Year Trading Update

Itaconix (AIM: ITX), a leading innovator in sustainable specialty polymers, is pleased to announce the following trading update for the year to 31 December 2018.

Unaudited revenues for the year were £0.7 million, with unaudited EBITDA(1) in line with expectations. In addition, the Company successfully completed the previously announced restructuring of its UK operations, reducing its overall cost base for ongoing operations in the second half of 2018 to a rate of £2.1 million per annum.

Net cash balances as of 31 December 2018 were £2.1 million. The Company is also shortly expected to receive £0.3 million of cash from R&D tax credits related to expenditure in 2017.

Since the year end, the Company has announced a supply agreement with Nouryon for Itaconix polymers to be used in non-phosphate detergents. 

"We achieved major progress in the second half of 2018 and the start to 2019 with increased revenues, another collaboration with a worldwide leader, and a major reduction in our fixed costs," said John R. Shaw, CEO of Itaconix. "I believe we are well positioned for continued revenue growth in our core markets of non-phosphate detergents, odor control, and hair styling."  

1 Loss before interest, tax, depreciation and amortisation.



For further information please contact:


+1 (603) 775 4400           


John R. Shaw / Michael Norris

N+1 Singer

+44 (0) 207 496 3000

Richard Lindley / James Moat (Corporate Finance)

Mia Gardner (Corporate Broking)


About Itaconix

Itaconix develops and produces bio-based specialty polymers that improve the safety, performance and sustainability of consumer and industrial products, with technology and market leadership positions in non-phosphate detergents, odor control, and hair styling.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


Full Year Trading Update - RNS