Kodak Sonora plate volumes up 84% in Q2

Kodak: focus on "growth engines" including Sonora
Kodak: focus on "growth engines" including Sonora

Kodak has reported “an improved performance in all businesses” in its Q2 results.

Sales were up by $78m (£56.3m) in the three months to 30 June, to $291m.

The prior year performance had been badly impacted as the Covid-19 pandemic took a grip on worldwide print markets.   

Traditional printing sales in Q2 2021 rose 42% to $169m with operational EBITDA of $6m compared to just $1m in 2020. Digital printing revenues were up 19% at $62m and the unit broke even compared with the prior year’s $3m loss. 

Advanced materials and chemicals sales were up $16m to $54m and the division was back in the black with $1m in operational EBITDA (2020 loss: $7m). 

Kodak executive chairman and chief executive Jim Continenza said the results reflected changes made at the business in the last two years, including concentrating on its core competencies, a “customer-first One Kodak model”, fixing the balance sheet and raising capital for future investment. 

“The result is improved performance in all our businesses and a solid foundation,” he stated. 

“Despite the challenges and uncertainties related to supply chain, commodities and labour costs created by the pandemic, we plan to continue to focus on our strengths as an industrial manufacturer.”

Volumes of Kodak Sonora process-free plates jumped by 84%, while annuities for Kodak Prosper inkjet systems rose by 50%. 

Kodak said it continued to invest in its Ultrastream next-generation inkjet technology, and in advanced materials. 

Separately, US print business Modern Litho has become the first user worldwide of Kodak's new Prinergy On Demand Business Solutions for automated processes using artificial intelligence. 

Implementation at the Missouri multi-site operation is underway, and slated to go fully live at all of its facilities in October.