IT Tech Packaging, Inc.
Fourth Quarter & Fiscal Year 2024 Financial Results Presentation
KEY HIGHLIGHTS
Key Highlights for Q4 2024
Revenue decreased by 15.8% YoY to $17.6 million, primarily due to the decrease in sales quantity and ASPs of CMP, offset printing paper and tissue paper products.
Gross profit up 426.8% YoY to $1.1 million. Overall gross margin up 4.9 percentage points to 6.1%.
Operating loss was $3.8 million, compared to $3.8 million for the same period of last year.
Net loss was $4.0 million, or losses per share of $0.4, compared to $4.0 million, or losses per share of $4.0, for the same period of last year.
Earnings before interest, taxes, depreciation and amortization ("EBITDA") was $0.1 million, compared to EBITDA of $ nil million for the same period of last year.
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Key Highlights for FY 2024
Revenue decreased by 12.4% YoY to $75.8 million, primarily due to
the decrease in sales quantity of Corrugating Medium Paper ("CMP"), offset printing paper and tissue paper products and the decrease in Average Selling Price ("ASP") of CMP.
Gross profit up 566.4% YoY to $6.7 million, primarily due to the decrease in unit cost of materials of CMP, partially offset by the decrease in ASP of CMP. Gross margin up 7.6 percentage points to 8.8%.
Net loss was $9.8 million, or $1.0 per diluted share, compared to $9.9 million, or $1.0 per diluted share, for the same period of the prior year.
Earnings before interest, taxes, depreciation and amortization ("EBITDA") was $6.0 million, compared to EBITDA of $5.6 million for the same period of last year.
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FINANCIAL & BUSINESS REVIEW
Revenue
Millions
1.2% | 5.8% | 12.4% | 7.64% | 6.10% |
21.50% |
US$
-18.1%
2.1% -5.84%
-51.0%
21.0 | 26.2 | 25.1 | |||||||||||||||||||
17.6 | |||||||||||||||||||||
32.5 | |||||||||||||||||||||
Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |||||||||||||||||
Revenue | Gross Margin | Operating Margin | |||||||||||||||||||
Q4 2024
- Revenue decreased by 15.8% YoY to $17.6 million, primarily due to decrease in sales quantity and ASPs of CMP, offset printing paper and tissue paper products.
- Overall gross profit margin up 4.9 percentage points to 6.1%.
- Operating loss margin down by 3.4 percentage points YoY to 21.5%.
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Corrugating Medium Paper (CMP)
Millions | Revenue and Gross Margin | ||||||||||||||
26.2 | 25.0 | ||||||||||||||
5.40% | 6.00% | ||||||||||||||
12.3% | |||||||||||||||
US$ | 20.5 | 5.3% | 7.50% | ||||||||||||
17.6 | |||||||||||||||
Thousands Tonnes
362
350
Sales Volume and ASP
368
350
355
337
337
324
343
332
75.4
74.9
56.8
51.6
6.8 | ||||||||||||||
3.4 | 1.1 | 4.2 | 4.1 | 3.1 | ||||||||||
Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | ||||||||||
Revenue | LW CMP Rev | Gross Margin | 列1 | |||||||||||
9.8 | 18.7 | 12.6 | 12.8 | 9.2 | |||||||||
3.0 | |||||||||||||
Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |||||||||
Total CMP Sale volume | LW CMP volume | ||||||||||||
Reg CMP ASP | LW CMP ASP | ||||||||||||
Q4 2024 CMP (includes both Regular and Light-Weight CMP)
- Revenue: down 13.9% YoY to $17.6 million, accounted for 99.9% of total revenue.
- Sales volume: down 19.1% YoY to 51,633 tonnes.
- ASP: Regular CMP down 5.3% to $343/tonne.
- ASP: Light-Weight CMP down 5.1% to $332/tonne.
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Offset Printing Paper
Revenue and Gross Margin
0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||
Millions | 12.65% | ||||||||||||||
- | - | - | - | ||||||||||||
US$ | Q4 | 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |||||||||
0.0 | |||||||||||||||
Revenue | Gross Margin | |||
Sales Volume and ASP
Thousands Tonnes
0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |||||||||||||||
Sales Volume | ASP | ||||||||||||||||||
Q4 2024 Offset Printing Paper
- Revenue: was $ nil million.
- Sales Volum: was nil
- ASP: was nil
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Tissue Paper
US$ Millions
Revenue and0Gross Margin
0 | 0 | 0 | |||||
0.5
0.0 | 0.0 | 0.0 | 0.0 | |
Thousands Tonnes
Sales Volume and ASP
1,456
0 | 0 | 0 | 0 |
Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | ||||||||||||||||||
Revenue | Gross Margin | Sales Volume | ASP | ||||||||||||||||||||||||
Q4 2024 Tissue Paper
- Revenue: was $ nil million.
- Sales volume: was nil.
- ASP: was nil.
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