Kodak is releasing the latest version of its Sonora processes printing plate. The Sonora Ultra offers a higher contrast image, able to be identified by tools such as Koenig & Bauer’s iDent technology, and a more resilient image with far greater latency. The image is now a high contrast green.
The plates are flowing from the Oestrode plant in Germany and are being introduced to European customers that have previously used the Ultra3 version of the plate.
Kodak’s strategy is to be able to produce the plates at each of its global facilities; in Japan and the US as well as Europe. The US plate business has come through the tariff wars of last year when Kodak fought for and won against subsidised plates from China and Japan. This, says executive chairman and CEO Jim Continenza, “levels the playing field” against rivals in the US.
This came before the tariffs imposed on aluminium and steel imports into the US by President Trump. As aluminium suitable for plate production comes from either Germany or the UK, where tariffs have been imposed, it is hard to see how the company can escape. However, as higher tariffs have been imposed on China, Kodak’s rivals may suffer more.
This comes on top of a decline in the print sector last year. Revenues dropped from $828 million to $737 million and Ebitda slipped from $20 million to an Ebitda loss of $8 million. Kodak does not provide a breakdown between plates, inkjet and software – the three key components of the print division.
In commenting on the release of the 2024 figures CFO Dave Bullwinkle identified lower volumes and higher aluminium costs for the change last year. Costs of certain litigation matters and participation in Drupa are also named as factors which adversely affected results for the business.
Inkjet revenues have been on hold while Kodak has been finalising both the Ultra 520 and Prosper 7000 Turbo. The latter was demonstrated at the recent Hunkeler Innovation Days to good effect according to Continenza. Both are now ready to move from the controlled introduction stage to a commercial release to various printers. This will inevitably boost ink revenues as both are highly productive machines.
Kodak has also announced that it will be possible for printers with a Prosper 6000 to upgrade to the Prosper 7000 specification with its maximum throughput of 410 m/minute.
In the same presentation, Continenza stressed that the “rate of decline is slowing” adding: “Print has continued to decline, but has been offset somewhat by the increase in revenues in Advanced Materials and Chemicals.”
This includes new applications for the core film coating technology, including ultra black coatings for textiles, large area sensors for autonomous vehicles and a clean lab to produce precursors for pharmaceuticals. This should come on stream later this year.
AMC remains smaller than print with revenues of £271 million for 2024 ($255 million) and an Ebitda of $17 million ($10 million). The group also receives revenue from lending its name to third parties and for its own merchandising activities. As as result revenues for 2024 came in at $1.043 billion ($1.117 million), a 7% decline with Ebitda at $26 million ($45 million), down 42%.
Quite separately, development of the offices at the former Kodak factory in Harrow into 223 co-living units has been given the go ahead by Harrow council.
