Itaconix logo
  • For Nature with Nature

    We create products that enable companies to stand out in the market. Explore our range of high-performance plant-based formulations, and discover solutions that meet your specific needs.

    View our Solutions

    Need Help?
    • Talk to Us
    • Resources
    • Applications
      • Cleaning
      • Hygiene
      • Beauty
      • Asterix® Building Blocks
    • Goals
      • Exceptional Performance
      • Cost-Efficiency
      • Safer Products
      • Sustainability
    Have questions about our solutions?

    Schedule a call with our team to discuss ingredient and formulation options for your products.

    Ask Itaconix
  • Performance Ingredients

    Itaconix produces key ingredients for new generations of safer consumer products with superior performance and sustainability.

    View all Products

    Need Help?
    • Talk to Us
    • Resources
    • Key Attributes
      • Scale Inhibition
      • Dispersion
      • Chelation
      • Odor Neutralization
      • Foam Enhancement
      • Film Former
    • Cleaning
      • Itaconix® DSP 2K®
      • Itaconix® TSI® 422
      • Itaconix® TSI® 322
      • Itaconix® ONZ™ 075
      • Itaconix® ONZ™ 100
      • Itaconix® ONZ™ 105
      • Itaconix® ONZ™ 400
      • Itaconix® ONZ™ 405
      • Itaconix® SF 505
    • Beauty
      • VELASOFT® NE 100
    • Hygiene
      • VELAFRESH® ZP20
      • VELAFRESH® ZP30
      • VELAFRESH® ZP75
      • VELAFRESH® ZP95
    • Resources
      • Technical Data Sheets
      • Safety Data Sheets
    Need specific technical information to formulate your product?
    Ask Itaconix
  • Plant-Based Innovation

    Using our proprietary plant-based technology, Itaconix develops uniquely functional ingredients that are safer for people and the planet.

    Learn more about us

    Need Help?
    • Talk to Us
    • Resources
    • About
      • At a Glance
      • For Nature with Nature
      • Our Technology Platform
      • Leadership
      • Careers
    Join our team

     

     

    Explore Careers
  • Enabling the Low Carbon Economy

    We are building a large, profitable specialty ingredient company with safer products for the low carbon economy. Our growth rate has just begun to tap the potential of the addressable market.

    Learn more

    Need Help?
    • Talk to Us
    • Resources
    • Investors
      • At a Glance
      • Share Information
      • Corporate Governance / AIM Rule 26
    Itaconix: Potential & Progress

    female scientist using a microscope

    Itaconix has entered a new era of development toward our long-term goal of becoming a large, highly profitable, capital-efficient specialty-ingredient company.

     

    Annual Report
  • Stay in the Know

    Discover latest Itaconix news and events.

    Need Help?
    • Talk to Us
    • Resources
    • News & Events
      • Insights and Articles
      • News
      • Events
    Insights

    Subscribe for updates and get insights sent directly to your inbox.

     

    Subscribe
  • 1.603.775.4400
  • Ask Itaconix

Find what you're looking for

  • Solutions
    • Applications
      • Cleaning
      • Hygiene
      • Beauty
      • Asterix® Building Blocks
    • Goals
      • Exceptional Performance
      • Cost-Efficiency
      • Safer Products
      • Sustainability
  • Products
    • Key Attributes
      • Scale Inhibition
      • Dispersion
      • Chelation
      • Odor Neutralization
      • Foam Enhancement
      • Film Former
    • Cleaning
      • Itaconix® DSP 2K®
      • Itaconix® TSI® 422
      • Itaconix® TSI® 322
      • Itaconix® ONZ™ 075
      • Itaconix® ONZ™ 100
      • Itaconix® ONZ™ 105
      • Itaconix® ONZ™ 400
      • Itaconix® ONZ™ 405
      • Itaconix® SF 505
    • Beauty
      • VELASOFT® NE 100
    • Hygiene
      • VELAFRESH® ZP20
      • VELAFRESH® ZP30
      • VELAFRESH® ZP75
      • VELAFRESH® ZP95
    • Resources
      • Technical Data Sheets
      • Safety Data Sheets
  • About
    • About
      • At a Glance
      • For Nature with Nature
      • Our Technology Platform
      • Leadership
      • Careers
  • Investors
    • Investors
      • At a Glance
      • Share Information
      • Corporate Governance / AIM Rule 26
  • News & Events
    • News & Events
      • Insights and Articles
      • News
      • Events
Need Help?
  • Talk to Us
  • Resources
  • Search
  • 1.603.775.4400
  • Ask Itaconix

Insights and Articles

    • Investor News
    • RNS
    • News
    • Cleaning
    • Formula
    • Beauty
    • Investor Video
    • Sustainability
    • Hygiene
    • Dishwash
    • Fabric
    • Hair
    • Trading Update
    • Financial Highlights
    • Pet
    • Deodorant
    • Performance
    • Skin
    • Annual Report
    • Cost-effectiveness
    • Events
    • Reports and Documents
    • Safety
    • Bathroom
    • Institutional Industrial
    • Solutions
    • Surfaces
    • Plant-Based
Subscribe
  • Investor News

2024 Annual General Meeting Statement and Trading Update

May 20, 2024 3 min read

Share this article

 

20 May 2024

Itaconix plc
(“Itaconix” or the “Company”)
Annual General Meeting Statement and Trading Update

Itaconix (AIM: ITX) (OTCQB: ITXXF), a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products, will today hold its Annual General Meeting (“AGM”) at 14.00 at Fieldfisher LLP, 9th Floor, Riverbank House, 2 Swan Lane, London EC4R 3TT, United Kingdom.

At the AGM, Dr. Peter Nieuwenhuizen, Non-Executive Chair, will make the following statement:

“After the decisions we made at the start of the year, I am pleased to report on year-to-date progress with new products launched, new accounts won, uses in new applications, higher gross profit margins, new studies on the biodegradability of our products, and an expanding global footprint of regulatory approvals for our products. Itaconix trading to date and the Board’s expectations for FY 2024 results remain in line with what we set out in our announcement of 2 April 2024.

“We announced two new products on 29 April 2024. Itaconix TSI 422 is an advanced version of our leading Itaconix TSI 322 that offers improved performance, lower overall formulation costs, and more compact formulations in cleaning applications. Itaconix ONZ 405 is a powder version of our current liquid odour neutraliser to meet customer needs in powder formulations, particularly in laundry and hygiene applications.

“We have received initial orders from important new accounts in Europe and North America, including a new dish detergent gel in Europe and expanded use in sustainable leather. We expect revenues from these new accounts and meaningful volume growth from two key existing accounts to predominantly fall in H2 2024 and beyond.

“As stated in our announcement of 2 April 2024, we are working to realise more value for the benefits that our ingredients deliver in consumer products. Importantly, our unaudited year-to-date total gross profit margin is greater than 35 per cent compared to 31 per cent for FY 2023.

“We have completed a series of studies to expand the data showing that our water-soluble polymers do not persist in the environment as customers and regulators increasingly focus on the safety of ingredients used in consumer products.

“We have advanced the global regulatory acceptance of our major products with new approvals in China, Australia, and New Zealand. These approvals are expected to generate new revenue opportunities for current European and North American accounts to sell their products into this region and for new prospective customers in these countries.

“As stated before, our strong balance sheet provides us with the resources to continue our commercial expansion and pursuit of new customer, application, and product opportunities for high-margin revenue growth. We remain optimistic about our goal to build a large, profitable company with recurring attractive-margin revenues from a large and broad base of customers that use Itaconix products as key enabling ingredients in new generations of consumer products.”

-Ends

Itaconix plc +1 603 775-4400
John R. Shaw / Laura Denner  
Belvedere Communications  +44 (0)20 7653 8702
John West / Llew Angus  
Canaccord Genuity – Nominated Adviser and Sole Broker +44 (0) 20 7523 8000
Adam James / Harry Pardoe

About Itaconix

Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products.  The Company’s current ingredients are enabling and leading new generations of products in cleaning, hygiene, and beauty.
www.itaconix.com

background image

Download this full RNS News Release

Download

Related Articles

Investor News ITACONIX PLC TRADING UPDATE, December 7, 2023
Dec 7, 2023 2 min read
Investor News Notice of General Meeting and Posting of Circular
Jun 26, 2020 2 min read
Investor News UNAUDITED INTERIM RESULTS FOR THE 6 MONTH PERIOD TO 30 JUNE 2022
Sep 14, 2022 5 min read

Subscribe via Email

Subscribe to our blog to get insights sent directly to your inbox.

Itaconix Logo

Get insights sent directly to your inbox.

Connect with us:

  • Linkedin
  • X
  • Instagram
  • Solutions
  • Products
  • About
  • Investors
  • News & Events
  • Contact
  • Privacy Policy
©2025 Itaconix. All rights reserved.