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Halcyon Agri reports positive second quarter results

  8/14/2019 - Singapore - Halcyon Agri Corporation Limited recorded positive market performance, reporting a revenue of $512.1 million, operating profit of $11.1 million and an EBITDA of $19.5 million for the second quarter ended June 30. By the first half of 2019 reporting standards, the loss incurred in the first quarter of 2019 has been reduced to $3.8 million. Net profit attributable to shareholders stands at $1.2 million for the quarter. The group recorded a 451.2 percent increase in operating profit from $2 million in the second quarter of 2018 to $11.1 million in the second quarter of 2019, as a result of the group’s increased focus on investments in operational technology, aimed at improving cost efficiency while providing additional benefits for consumers of natural rubber. This is beginning to bear fruit and had a positive impact, with the Group reporting a quarter-on-quarter EBITDA increase of 105.2 percent from $9.5 million to $19.5 million. Revenues contracted 10.8 percent to $512.1 million in line with a decrease in delivered volumes from 374,216 metric tons in the second quarter of 2018 to 334,136 metric tons in the second quarter of 2019. While the group maintains its focus on margin over volume, the outbreak of leaf blight (Fusicoccum) and white root (Rigidoporus Microporus) diseases in Indonesia and abnormal weather patterns in Thailand have led to further compression in gross profit. Notwithstanding the prevailing macro headwinds, the Group is starting to experience positive operational leverage in its Cameroon plantations as our focus on harvesting protocols, processing technology and accurate market positioning is starting to show positive results in our Cameroonian plantation operations. “Throughout 2019, we have been focused on developing our technology investment strategy, which will allow Halcyon to bridge the requirements of three key stakeholder groups: smallholders, NGOs and our customer base. By introducing a layer of digitization at the factory and procurement level, we can capture provenance and production data and provide this to the marketplace in the form of a digital signature. This is the first step to generating data revenue for the supply chain and a milestone in our quest to de-commoditize this industry,” said Robert Meyer, executive director and chief executive officer, Halcyon Agri. “One such key initiative is HeveaConnect, a digital marketplace to facilitate price discovery of responsibly produced tyre-grade rubber. Underlying our investment in technology is our deep understanding of the need for robust sustainability practices for the future of the industry. Not only do we want to stimulate rubber demand and stabilize supply chain returns for business growth, we also want to realize the promise of ‘Future Rubber’ and support the world’s growing mobility needs through a sustainable supply of natural rubber in the long run.” HeveaConnect enables accurate discovery of the value of natural rubber, and ensures that prices better reflect true levels of supply and demand, and that rubber producers are compensated fairly. This is part of Halcyon Agri’s efforts to reboot the price discovery process anchored in industrialization of natural rubber production standards.

Tuesday, July 7, 2020

Conductive Silicone Rubber Market is estimated to reach $8.68 Billion by 2026 - click to expand

Safic-Alcan opens South African subsidiary - click to expand

Halcyon Agri receives $25 million sustainability-linked loan from Deustsche Bank for rubber plantations - click to expand

Arlanxeo goes virtual for its first global Technical Marathon - click to expand

Lianda launches new website in preparation for 25th anniversary - click to expand

Bridgestone donates emergency response trailer to Wilson County, Tennessee - click to expand

Monday, July 6, 2020

Cabot Corporation publishes 2019 Sustainability Report - click to expand

Cooper Standard’s Fortrex technology enables PolyOne launch of next-generation elastomer - click to expand

Cooper Tire adds winter drive tire RM258 for regional haulers - click to expand

Pirelli introduces tire with temperature adapting compound - click to expand

Bridgestone wins trademark dispute against Brazilian retread company New Tyre - click to expand

Friday, July 3, 2020

Book of the Day - Resistance and Stability of Polymers - click to expand

Trinseo announces 2030 sustainability goals - click to expand

Michelin hires eight youth apprentices for full-time positions at Starr, SC, facility - click to expand

Lanxess to hold virtual annual stockholders' meeting August 27 - click to expand

Dow launches MobilityScience platform - click to expand

Thursday, July 2, 2020

Global silicone coating market forecast with a CAGR of 7 percent - click to expand

Siempelkamp announces departure of CEO Christoph Michel - click to expand

Repligen to acquire Engineered Molding Technology - click to expand

Bosch Rexroth hosts free virtual Explore the Factory of the Future event - click to expand

Royal DSM appoints Zhou Tao as DSM China president - click to expand

PolyOne launches OnColor WC Choice for wire and cable applications - click to expand

Trinseo strengthens CASE team with two new hires - click to expand

Wednesday, July 1, 2020

Global thermoplastic elastomer market forecast with a CAGR of 5.6 percent through 2025 - click to expand

Bridgestone teams with Microsoft on intelligent tire monitoring system - click to expand

Hankook Tire named GM Supplier of the Year by General Motors - click to expand

Nokian Tyres invites drivers to enter their favorite road trips - click to expand

Total Cray Valley introduces aliphatic resin - click to expand

Rubber Division and Endurica partner on rubber industry training opportunities - click to expand

Tuesday, June 30, 2020

Stahl partners with CHAMPION project to replace conventional polymers - click to expand

Safic-Alcan extends distribution partnership with Momentive Quartz Technologies - click to expand

Cabot completes placement of all major air emission control equipment at Louisiana site - click to expand

Global OTR tire market anticipated to reach $26.4 billion by 2027 - click to expand

Bridgestone announces voluntary salary reduction for Japan-based corporate officers - click to expand

Kuraray America, Inc. launches nonprofit corporation to support its communities - click to expand

Market Reports

Global fluoroelastomer market forecast at $1.8 billion by 2025 - click to expand

Global automotive flooring markets forecast at $1.32 billion by 2027 - click to expand

Global OTR tire market forecast to reach $8.14 billion by 2026 - click to expand

Conductive Silicone Rubber Market is estimated to reach $8.68 Billion by 2026 - click to expand

Global silicone coating market forecast with a CAGR new 7 percent - click to expand

Global thermoplastic elastomer market forecast with a CAGR of 5.6 percent through 2025 - click to expand

Global OTR tire market anticipated to reach $26.4 billion by 2027 - click to expand

Global pressure sensitive adhesives market forecast to reach $12.8 billion by 2025 - click to expand

Outlook for the rubber economy in the face of Covid-19 - click to expand

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