Kodak Warning + Later Clarification

[BrianShaw]

Why would they still (agan?) release financial reports to public?

Last such report that they were required to publish was on fiscal year ending March 2023.

In all politeness and curiousity... why wouldn't they? Do you have information verifying that they are no longer intending to publish an Annual Report, whether "required" or not?

 

[koraks]

whether "required" or not?

Why would a business publish financial details if they're not required to? Doing so involves a lot of effort, it costs money, it provides information to competitors you'd prefer them not to have, etc. It's ultimately the same set of reasons why you don't annually report how much you've earned in the past year, how much you spent on gas, how your overall relationship with your spouse has been, etc. It's just none of anyone's beeswax, so you don't spill the beans.

 

[brbo]

Do you have information verifying that they are no longer intending to publish an Annual Report, whether "required" or not?

Other than the fact that they’ve decided NOT to publish them for the past two years? No.

 

[BrianShaw]

Why would a business publish financial details if they're not required to? Doing so involves a lot of effort, it costs money, it provides information to competitors you'd prefer them not to have, etc. It's ultimately the same set of reasons why you don't annually report how much you've earned in the past year, how much you spent on gas, how your overall relationship with your spouse has been, etc. It's just none of anyone's beeswax, so you don't spill the beans.

Well... they've published an Annual Report for 8 years. I guess to really know why or why not, you should ask them why they did in the past and if they intend to continue in the future. I wouldn't know that much about their inner workings.

 

[BrianShaw]

Other than the fact that they’ve decided NOT to publish them for the past two years? No.

I believe they still are a Private Limited Company in England and are required to submit an annual accounting (to the government, not necessarily the public).

Looking a this link, it appears that they submitted their annual account for 2024. As we both know, they have not released it on the company website. I guess we'll have to wait and see if they plan to continue releasing it.

KODAK ALARIS LIMITED overview - Find and update company information - GOV.UK

KODAK ALARIS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

 

[Alan Edward Klein]

I imagine they produce annual financial reports (certified) for banks if they're borrowing money for example. But those reports are kept confidential. No need for Annual Reports. Is there a requirement in England for public exposure?

 

[MattKing]

I imagine they produce annual financial reports (certified) for banks if they're borrowing money for example. But those reports are kept confidential. No need for Annual Reports. Is there a requirement in England for public exposure?

In the UK and in much of the rest of the common law world, the privilege of being able to set up a corporate entity, usually with limited liability, is accompanied by a corresponding legal obligation.
Corporate entities created under statutory provisions are required to keep financial records and publish publicly those records in a form required under those statutory provisions.
The major exceptions to that otherwise general rule are, AFAIK, the USA and Canada.
In the UK and other similar parts of the world, if you want to keep things private, you use a private business structure such as a sole proprietorship or a partnership between individuals.
In the UK and other similar parts of the world, if you want the benefits of the artificial construct that is an incorporated entity, you need to be willing to share more with the world.

 

[dcy]

Why would a business publish financial details if they're not required to? Doing so involves a lot of effort, it costs money, it provides information to competitors you'd prefer them not to have, etc.

Who exactly are the competitors of Kodak Alaris?

 

[BrianShaw]

Who exactly are the competitors of Kodak Alaris?

Probably many… in the non-film parts of their business.

 

[koraks]

Who exactly are the competitors of Kodak Alaris?

Plenty. Film is only a small part of what they do. I'd have to look it up, but I think photographic film was something like <20% of Alaris' revenue. For EK, stills photographic film is <10%.

 

[Agulliver]

As an example, in the UK the data for Kodak Alaris is available, along with data for all limited companies (including Harman, if you wish to look) at Companies House. Note there's Kodak Alaris Ltd and Kodak Alaris Holdings Ltd. If you really want, you can go down the rabbit hole of looking up all the directors and seeing which (if any) other companies they are directors of.

KODAK ALARIS LIMITED overview - Find and update company information - GOV.UK

KODAK ALARIS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

KODAK ALARIS HOLDINGS LIMITED overview - Find and update company information - GOV.UK

KODAK ALARIS HOLDINGS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

For instance, just a cursory look shows that Kodak Alaris Ltd had revenue of 164m euros in 2024, up 12% on 2023. Gross profit was 53.8m representing 33% of revenue, both up from 2023. Also "the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future." This is all normal for annual reporting in most of the developed world. It allows customers, suppliers and potential investors to see the basic health of the company.

Delve further and you discover more about their business divisions and what each does. Eg, "Alaris is a leading provider of information capture with a uniquely differentiated portfolio of scanning software, capture software and associated services". This division accounted for 46m euros of the total revenue for 2024. There's lots more info the further you delve. Nothing to suggest that Kodak Alaris is remotely in any danger. Though of course this doesn't directly refer to Eastman Kodak, it's an indicator of how one silly clickbait headline has so much more behind it.

 

[Alan Edward Klein]

In the UK and in much of the rest of the common law world, the privilege of being able to set up a corporate entity, usually with limited liability, is accompanied by a corresponding legal obligation.
Corporate entities created under statutory provisions are required to keep financial records and publish publicly those records in a form required under those statutory provisions.
The major exceptions to that otherwise general rule are, AFAIK, the USA and Canada.
In the UK and other similar parts of the world, if you want to keep things private, you use a private business structure such as a sole proprietorship or a partnership between individuals.
In the UK and other similar parts of the world, if you want the benefits of the artificial construct that is an incorporated entity, you need to be willing to share more with the world.

Just to clarify, US corporations that are publicly traded have public stock are therefore required to provide financial information regularly. However, private US corporations don;t have to provide public information. For example, I owned 100% of the stock in my corporation. I never created an annual report. I only created a financial statment when required by my bank to support my company's line of credit. But that was confidential and between me and my bank unless subpoenaed in a lawsuit during discovery. I also had my accountant provide profit and loss statements annually so I could see how the corporation was doing, but that too was private and confidential.

The question about current British Alaris is will the new American private equity firm who owns it change the company to a US corporation? Then they wouldn't have to publish anything about the company. They also would only have to deal with one government's rules.

 

[Alan Edward Klein]

Who exactly are the competitors of Kodak Alaris?

Probably many… in the non-film parts of their business.

Other film manufacturers are also competitors. Aftyer all, if you're Ilford, you;d like to know the markups, costs and proftis Alaris is making on each roll of film. That would help you set your prices for Ilford film to be more competitive and get more of the film market.