Kodak (KODK) Reports FY21 Revenue of $1.15 Billion, GAAP Net Income of $24 Million

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Credit:
Withaya Prasongsin

Eastman Kodak Company (NYSE: KODK) today disclosed full-year 2021 cash results, including combined revenues of $1.150 billion, and continued development in key item regions like plates without SONORA process and PROSPER annuities.

Merged revenues of $1.150 billion, in contrast and $1.029 billion for the full year 2020. Overall GAAP gain of $24 million, in contrast and a total deficit of $541 million for 2020 2020 Operating EBITDA of $11 million, contrasting and negative $1 million.

“Kodak continued to explore a strangely challenging business climate in 2021 and delivered unprecedented revenue growth across all of our portions for years,” said Jim Continenza, Executive Chairman and CEO of Kodak. “We have also seen an expansion of consumer loyalty and part of the wider industry in our key print business, achievements that reflect progress in our ongoing system: centering around our central organizations in the commercial printing and advancing materials and synthetics, putting resources into advancing article and placing our customers at the center of everything we do. »

For the full year ended December 31, 2021, revenue was $1.150 billion, an improvement of $121 million over a similar period in 2020. The GAAP net gain was $24 million for the year, compared to a total deficit of $541 million each 2020. The prior year included a charge of $416 million to reflect the increased value of the subordinated obligation installed in the convertible notes shortly before transformation and a $167 million cost related to the expansion of conceded load assessment awards for areas outside of U.S. functional EBITDA for the year ended December 31, 2021, was $11 million dollars, compared to negative $1 million in 2020. The increase was primarily the result of higher revenues and assembly costs resulting from volume expansion, in some is not offset by the continued expansion of global spending in 2021. current year operating EBITDA results did not benefit from $25 million in investment funds from a brief compensation cut ts and let that largely end in January 2021. Kodak ended the year with a total of $362 million, an increase of $166 million from December 31, 2020. The increase is primarily due to returns Net proceeds of $247 million from financing swaps closed in the first quarter of 2021.

“The company ended 2021 with $362 million in real money, an increase of $166 million from December 31, 2020,” said David Bullwinkle, Kodak’s chief financial officer. “The company’s asset report is the most grounded in years due to the execution of our technique. We continue to execute our arrangement by promoting the expansion of cost containment through computerization and the development and upgrading of interactions. »

Revenue and operating EBITDA by segment to be presented FY 2021 compared to FY 2020

($ million)
Actual figures for the 2021 financial year Traditional
Impression
Digital
Impression
Advanced
Materials &
Chemical products
Mark Total
Income

$

659

$

249

$

212

$

15

$

1,135

Operating EBITDA*

$

9

$

(5

)

$

(6

)

$

13

$

11

Actual figures for the 2020 financial year Traditional
Impression
Digital
Impression
Advanced
Materials &
Chemical products
Mark Total
Income

$

592

$

241

$

172

$

13

$

1,018

Operating EBITDA*

$

21

$

(ten

)

$

(23

)

$

11

$

(1

)

Fiscal 2021 vs. actual Fiscal 2020
N/(W)
Traditional
Impression
Digital
Impression
Advanced
Materials &
Chemical products
Mark Total
Income

$

67

$

8

$

40

$

2

$

117

Operating EBITDA*

$

(12

)

$

5

$

17

$

2

$

12

FY2021 actuals at constant exchange rates** vs. FY2020 actuals
N/(W)
Traditional
Impression
Digital
Impression
Advanced
Materials &
Chemical products
Mark Total
Income

$

56

$

4

$

39

$

2

$

101

Operating EBITDA*

$

(8

)

$

3

$

16

$

2

$

13

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