TERRACYCLE REPORTS SECOND QUARTER 2019 RESULTS

Financials   TerraCycle US Inc., the U.S. subsidiary of international recycling leader TerraCycle, Inc., announced financial results for the second quarter ending June 30, 2019. Financial Highlights:   •Revenue rose to $11.2 million representing a 16 percent year-over-year growth over Q2 2018 revenues of $9.5 million. •Net income more than doubled to $1.8 million, marking a 67 percent year-over-year growth over Q2 2018 net income of $603,000. •TerraCycle’s Regulation A capital raise is approaching $10 million.   Second Quarter Operational Highlights:   •TerraCycle has attracted investment in its Regulation A offering from ITOCHU Corporation, a 100 year old, $50 billion revenue Japanese trading company. ITOCHU, one of the largest brokers of plastic worldwide, will work with TerraCycle to expand the market for post-consumer plastics, and in particular to develop and sell plastics that come from generally non-recycled waste streams. •TerraCycle issued the first annual cash dividend paid in the company’s history, totaling roughly $54,000 or $2.09 per share representing a yield of 2.09 percent, to shareholders that invested in the company’s successful Regulation A capital raise. •During the first two quarters of 2019, TerraCycle surpassed the prior year’s total number of new contracts and programs. •The company continues to invest in its work force, increasing its U.S. based staff by 10 percent over the prior year.   “Our mission at TerraCycle has always been to eliminate waste, recycle the unrecyclable and use our innovative business solutions to minimize human impact on the planet,” said TerraCycle chief executive officer Tom Szaky. “During the course of our 18 year history, we’ve successfully translated our passion for what we do into an established company built on a strong financial foundation with sustained earnings and growth.”   Using third party logistics and facilities, TerraCycle converts collected waste into raw materials that are sold to and used by manufacturers to create new products. Examples of waste streams collected and recycled by TerraCycle include chip bags, coffee capsules, cigarette butts, oral care, beauty care, writing utensils and over 100 other waste streams in the U.S.   Published in the November 2019 Edition