- SGTM reports more than $9.2 million in revenue for Q1 2021 after recording $30.5 million in revenue for FY 2020
- Company anticipates continued strong financials as it starts to implement 2021 strategy
- SGTM focused on providing a sustainable, green solution for treatment and handling of tree debris that has been historically sent to local landfills and disposal sites
The Sustainable Green Team (OTC: SGTM), a leading provider of environmentally beneficial solutions for tree and storm waste disposal, has reported its financial numbers for the first quarter of 2021. The company noted that the quarter was a success, following a strong 2020 YE (https://ibn.fm/m6c6n). SGTM has six production facilities that contribute to its consistent success, including its new headquarters at the Mulch Manufacturing site in Florida (https://ibn.fm/uq9VL).
“Our continued successful recorded financials each quarter and year end is all thanks to our team,” said Sustainable Green Team CEO and director Tony Raynor. “I’m a firm believer that you are only as strong as your team, and our strong growing financials proves such. This year we are anticipating to continue recording strong financials as we start implementing our strategy for 2021 we plan to share soon as they progress.”
Highlights of the company’s Q1 2021 include $9,291,931 in revenue with $1,400,720 in gross profit and $41,477,914 in total assets for the three months ending April 3, 2021. In addition, the report noted that SGTM had recorded more than $30.5 million in revenue for FY 2020 and had entered 2021 with approximately a 16.7% increase in revenue, an 8.6% increase in gross profit, and a 1.4% increase in total assets compared to the three months ended March 31, 2020.
The company is committed to providing a sustainable, green solution for the treatment and handling of tree debris that has been historically sent to local landfills and disposal sites. The traditional method of dealing with tree debris has created “an environmental burden and pressure on disposal sites around the nation,” the company noted. Instead, SGTM is focused on converting the biomass into a marketable, beneficial-use product.
Six production facilities enable the company to carry out their mission. SGTM’s facility in Callahan, Florida, has 100 acres of storage and features six bagging lines that work with cypress, pine, Softscape, colored, and A-grade products. They have an additional facility in Homerville, Georgia, including a cypress sawmill, three bagging lines, and 40 acres of storage.
The company has two facilities in Jacksonville, Florida: its colorant plant produces mulch colorants and sells mulch-coloring machinery. This facility is also the site of the company’s R&D division while its production and bagging facility is ramping up to include retail sales and offer wood recycling services. The company has two additional sites in Florida — one in Apopka and one in Astatula — that already provide wood recycling services and retail sales of a full line of bagged and bulk mulch products.
Through its subsidiaries, The Sustainable Green Team provides tree services, debris hauling and removal, biomass recycling, mulch manufacturing, packaging, and sales. The company’s solutions are founded in sustainability and are based on vertically integrated operations. This process begins with collecting tree debris through its tree services division and collection sites. Then, through its processing division, that tree debris is recycled and used as a feedstock to be manufactured into various organic, attractive, next-generation mulch products. These products are then packaged and sold to landscapers, installers, and garden centers.
The company plans to expand its operations through a combination of organic growth and strategic acquisitions that are both accretive to earnings and positioned for rapid growth from the resulting synergistic opportunities identified. The company’s customers include governmental, residential, and commercial clients.
To learn more about Sustainable Green Team Ltd., view the investor presentation at https://ibn.fm/VgaD2
NOTE TO INVESTORS: The latest news and updates relating to SGTM are available in the company’s newsroom at http://ibn.fm/SGTM
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