Reading the DMX comment from January 2021.
SES, the manufacturer of sustainable packaging materials, announced 2Q21 revenue of $7.9m, up 50% on 2Q20
(previous corresponding period (PCP)). While revenue increased strongly (up 34%) on 1Q21, importantly and
encouragingly, SES’s high margin Biopolymer sales were up 71%. These now represent over 73% of total group
sales with SES’s lower margin, traditional film product representing a diminishing proportion of sales. There
were several drivers of this strong sales growth, including SES’s Biopolymer resin sales to the Americas
recommencing, increased demand for compostable dog waste bags, strong Australian local council demand for
compostable food waste-kitchen caddy bags, as well as significant ongoing growth in compostable film orders
for hygiene applications.
Looking at FY21 BIO only account for 60% of Revenue...vs DMX's comment in Jan that it was 73%. I do however believe the trend is up for BIO. I might pick a small amount and do more work.
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