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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.

Friday, October 18, 2019

Struktol's additives and technical solutions showcased on redesigned website - click to expand

CPI announces two distinguished leadership award winners - click to expand

Solvay’s Veradel PESU line in India comes on-stream - click to expand

Michigan Rubber Group announces November technical meeting - click to expand

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

CPI survey reveals strength of polyurethanes across U.S., Canada and Mexico - click to expand

Thursday, October 17, 2019

Center for the Polyurethanes Industry announces winner of the 2019 Polyurethane Award - click to expand

Lanxess introduces a vulcanization accelerator for all types of rubber - click to expand

ARPM unveils training module: Job Setup and Production Flow - click to expand

Dow expands Nordel EPDM portfolio - click to expand

Global agricultural tire market forecast at $7.5 billion by 2024 - click to expand

Wacker presents liquid and solid silicone rubber grades with enhanced product and processing properties - click to expand

Goodyear declares quarterly dividend - click to expand

Wednesday, October 16, 2019

Michelin introduces Endurance XT Silicone Beam wiper blade - click to expand

Adhesives and sealants market forecast to reach $73.8 billion by 2024 - click to expand

Huber Engineered Materials nearly completes Martinswerk expansion - click to expand

K Show 2019 opens today in Dusseldorf - click to expand

Gerlach opens office in Albuquerque, NM, to better serve North American market - click to expand

Arlanxeo illustrates the future of mobility solutions at K2019 - click to expand

Hexpol TPE launches circular TPEs at K2019 - click to expand

Tuesday, October 15, 2019

Michelin announces sport touring tire line-up for motorcycles and scooters - click to expand

Global automotive mold market expected to grow at a CAGR of over 7 percent through 2024 - click to expand

Orion Engineered Carbons appoints Lorin Crenshaw chief financial officer of the Orion group - click to expand

Collaboration brings new colors to Dow’s 3D-printable liquid silicone rubber - click to expand

Mid Atlantic Rubber and Plastics Group holds educational symposium in November - click to expand

Braskem's Delta PP plant remains on target for completion by first quarter of 2020 - click to expand

Monday, October 14, 2019

Toyo Tire U.S.A. Corp. to promote Michael Graber to VP of Sales - click to expand

The Philadelphia Eagles and Braskem announce results from 2018-2019 STEM Scholars Program - click to expand

Michelin recognized by EPA with 2019 SmartWay award - click to expand

Cabot Corporation receives fourth consecutive gold-level rating from EcoVadis - click to expand

Dunlop SP Sport Maxx run-flat tire chosen as factory standard for Lexus LS - click to expand

Yokohama Tire launches two new premium winter tires - click to expand

Market Reports

CPI survey reveals strength of polyurethanes across U.S., Canada and Mexico - click to expand

Global agricultural tire market forecast at $7.5 billion by 2024 - click to expand

Adhesives & sealants market forecast to reach $73.8 billion by 2024 - click to expand

Global automotive mold market is expected to grow at a CAGR of over 7% through 2024 - click to expand

Silicone surfactants market forecast to reach $2.5 billion by 2024 - click to expand

Global silicone elastomers market forecast with a CAGR of 6.2% through 2024 - click to expand

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