STRAX: INTERIM REPORT NO 1 FOR THE FINANCIAL YEAR 2018

STRAX, the mobile accessory specialist, delivered solid top-line growth and strong improvement in gross margin in Q1, where proprietary and licensed brands lead the way

  • The Group’s sales for the period January 1 – March 31, 2018, amounted to MEUR 22 (20), gross margin increased to 30.4 (27.0) percent.
  • The Group’s result for the period January 1 – March 31, 2018, amounted to MEUR 0 (0) corresponding to EUR 0.00 (0.00) per share. Equity as at March 31, 2018 amounted to MEUR 21.0 (18.2) corresponding to EUR 0.17 (0.15) per share.
  • EBITDA for the period January 1 – March 31, 2018, amounted to MEUR 1.0 (0.6) an increase of 67% to be compared with a sales growth of 9% for the same period. The scalable growth model shows greater increase in profitability in relation to growth of revenues.
  • STRAX was awarded accessory contract with Vodafone UK to become its sole provider of mobile accessories across all of its 450 retail stores, enterprise business units and online channels via a full category vendor managed availability solution.
  • STRAX implemented a supply chain financing solution from CrossFlow, a London-based fintech company, within its supplier base.

”The House of Brands positioning coupled with our distribution capabilities in Western Europe has proved very successful with our customers.”
                                                                                                                                                                Gudmundur Palmason, CEO

 

This information is information that Strax AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:55 CET on May 24, 2018.

For further information please contact Gudmundur Palmason, CEO, Strax AB, +46 8 545 01750

About STRAX
STRAX is a market-leading global company specializing in mobile accessories and connected devices. STRAX has built a House of Brands to complement its value-added customer-specific solutions and services. STRAX House of Brands includes proprietary brands: XQISIT, GEAR4, Urbanista, THOR, avo+, FLAVR, Eule and licensed brands: adidas and bugatti. In addition STRAX represents over 40 major mobile accessory brands. STRAX sells into all key channels ranging from telecom operators, mass merchants and consumer electronics to lifestyle retailers and direct to consumers online. STRAX was founded in Miami and Hong Kong in 1995 and has since grown across the world. Today, STRAX has over 200 employees across 13 countries with its operation HQ and logistics center based in Germany. STRAX is listed on the Nasdaq Stockholm stock exchange.

About Us

About STRAXSTRAX is a global company specializing in mobile accessories and connected devices. STRAX is listed on the Nasdaq Stockholm Stock Exchange. STRAX offers proprietary, licensed,partner branded accessories and connected devices. The proprietary brands include XQISIT, GEAR4, Urbanista, THOR, AVO+ and FLAVR. The company furthermore represents over 30 brands. The company sells to a wide channel landscape ranging from telecom operators, specialized mobile and consumer electronics retailers to online, lifestyle, convenience stores and supermarkets. STRAX was founded in Miami and Hong Kong in 1995 and has since grown significantly across the globe. STRAX has 200 employees in 12 countries and its operational HQ and logistics center is based in Germany.