IT Tech Packaging : ITP 2Q2022 Earnings Results.pdf

IT Tech Packaging, Inc.

Second Quarter 2022 Financial Results Presentation

Safe Harbor Statement

This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, anticipated revenues from the digital photo paper business segment; the actions and initiatives of current and potential competitors; the Company's ability to introduce new products; the Company's ability to implement the planned capacity expansion of corrugate medium paper; market acceptance of new products; general economic and business conditions; the ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

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Agenda

• Key Highlights
• Financial & Business Review
• Operational & Business Updates

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KEY HIGHLIGHTS

Key Highlights for Q2 2022

Revenue decreased by 31.7% YoY to $31.8 million, primarily due to the decrease in sales volume of corrugating medium paper ("CMP"), offset Printing Paper and tissue paper products.

Gross profit down 79.1% YoY to $0.6 million, primarily due to the decrease in sales volume of CMP, offset printing paper and tissue paper products. Overall gross margin down 4.5 percentage points to 2.0%.

Loss from operations was $1.2 million, compared to loss from operations of $0.4 million for the same period of last year.

Net loss was $0.3 million, or loss per share of $0.003, compared to net loss of $0.5 million, or loss per share of $0.01, for the same period of last year.

Earnings before interest, taxes, depreciation and amortization ("EBITDA") was $3.6 million, compared to EBITDA of $9.0 million for the same period of last year.

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