ORGANOCLICK PUBLISH ITS INTERIM REPORT FOR Q1 2019
"We have once again wind in our tail with a sales growth of 20 % during the quarter, totalling sales of SEK 22.1 (18.4) million. Our new customers are now generating sales for us but we have also grown with our existing customers. Both the business unit Green coatings & maintenance products as well as Functional wood have a strong growth, but our other product segments are beginning to start up. A changed product mix improves our gross margin (after variable costs) to 46 (44) %. The leverage in our business can now also be clearly seen as we have been able to reduce our operating cost with SEK 1.6 million during the quarter, yet increased our sales with 20 %. In overall, the improvements resulted in a positive EBITDA of SEK 0.8 (-3.0) million and EBIT improved with SEK 2.5 million to SEK -2.1 (-4.6) million."
Translation from CEO Mårten Hellbergs comments to the Interim Report.
Q1, 1 January – 31 March 2018
The Group compared with Q1 2017
» The net revenue amounted to SEK 22.15 (18.40) million
» EBITDA of SEK 0.80 (-2.96) million
» Cashflow from operations of SEK -1.72 (-13.47) million
» Result before tax of SEK -3.01 (-4.95) million
The complete version of the Interim Report (in Swedish) is attached in this press release and is available on the companys´ homepage. The informationen in this Interim Report is according to the rules of Nasdaq First North.
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For more information, please contact; Mårten Hellberg, CEO OrganoClick
Phone: +46 8 684 001 10
Email: marten.hellberg@organoclick.com
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About OrganoClick
OrganoClick AB (publ) is a public Swedish cleantech company listed on Nasdaq First North. The company develops, produces and markets functional materials based on environmentally friendly fiber chemistry. Examples of products that are marketed by OrganoClick are the durable water repellent technology for textiles OrganoTex®, the biocomposite material OrganoComp®, surface treatment and maintenance products for villa and property owners under the brand BIOkleen®, biobased binder under the trade name OC-BioBinder™ and the flame and rot-resistant timber OrganoWood® (through the joint-venture OrganoWood AB). OrganoClick was founded in 2006 as a commercial spin-off company based on research performed at Stockholm University and the Swedish University of Agricultural Sciences within environmentally friendly fiber chemistry. OrganoClick has won a number of prizes, such as "Sweden's Most Promising Start -up" and "Sweden's Best Environmental Innovation", and has also received a number of awards, such as the WWF "Climate Solver" award, listed as a SUSTAINIA100 company and has also appeared for two years on the Affärsvärldens and NyTekniks list of Sweden's top 33 hottest technology companies. OrganoClick has its head office, production and R&D located in Täby, north of Stockholm. OrganoClick's Certified Adviser on Nasdaq First North is Erik Penser Bank, phone: +46 (0)8 463 83 00, email: certifiedadviser@erikpenser.se.
The information in this press release contains information that OrganoClick AB (publ) is obliged to release according to the EU's market regulation law number 596/2014. The information was published, of the contact person above, 9 May 2019 at 8:30.
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